Several significant token unlocks are scheduled for the upcoming week, impacting various cryptocurrencies including Venom (VENOM), Yield Guild Games (YGG), SingularityNET (AGIX), and Ethena (ENA). These unlocks are expected to influence the circulating supply and market value of the respective tokens. Venom (VENOM) will unlock approximately 235 million tokens on September 25 at 4 PM UTC+8.
This event represents 12.66% of its current circulating supply, with an estimated value of $26.1 million. This substantial injection of tokens into the market could potentially have a pronounced effect on demand and price, depending on market sentiment at the time. Yield Guild Games (YGG) is set to unlock around 14.08 million tokens on September 27 at 10 PM UTC+8, accounting for 3.65% of its circulating supply and valued at approximately $6.4 million.
The timing and market conditions surrounding this unlock may create opportunities for traders and investors who are monitoring the token's performance closely. SingularityNET (AGIX) will unlock about 8.19 million tokens on September 28 at 8 AM UTC+8, which is 1.63% of its circulating supply. This unlock is estimated to represent a value of $5.8 million, a crucial moment for holders who might be positioned to maximize returns or mitigate risks post-unlock. Ethena (ENA) will unlock around 8.19 million tokens on September 29 at 3 PM UTC+8, representing 0.78% of its circulating supply and valued at approximately $3.9 million.
Investors will want to track this closely to gauge its market impact. Additionally, Galxe (GAL) will unlock about 416,000 tokens on September 24 at 8 AM UTC+8, which equates to 0.33% of its circulating supply, valued at around $980,000. This small-scale unlock may be less impactful but still warrants attention from keen market observers. Acala (ACA) will unlock approximately 4.66 million tokens on September 25 at 8 AM UTC+8, representing 0.43% of its circulating supply and valued at about $300,000.
Understanding the implications of such releases can be vital for forecasting market movements in related altcoins. Tornado Cash (TORN) will unlock around 91,600 tokens on September 28 at 11:30 AM UTC+8, which is 2.41% of its circulating supply, valued at approximately $240,000. This unlock competes with other cryptos also scheduled to release tokens, which could create a ripple effect across the broader market. Lastly, Euler (EUL) will unlock about 42,000 tokens on September 27 at 8:47 AM UTC+8, representing 0.23% of its circulating supply and valued at around $190,000.
Such unlocks are pivotal for gauging investor sentiment and adjusting strategies accordingly..