Top 7 Crypto Token Unlocks Expected to Happen in the Next 7 Days
- The top 7 biggest token unlock events for the next seven days would involve DYDX, IMX, OP, SUI, 1INCH, AXL, and HBAR.
- Crypto traders can make more cautious and better trading decisions by monitoring vested tokens and future unlock events.
- AXL lost 11% of its value after its token unlock event on November 27, 2023.
According to Top 7 ICO, a crypto analytics platform, some of the biggest crypto tokens unlock events expected to happen in the next seven days involve DYDX, IMX, OP, SUI, 1INCH, AXL, and HBAR. The analytics platform noted that cryptocurrency traders can “make more cautious and, in the end, better trading decisions” by monitoring vested tokens and future unlock events.
Here are the details of the token unlock schedules, as indicated by Top 7 ICO in a recent post.
dYdX (DYDX)
DYDX token is the L1 protocol token for the dYdX Chain. Its holders can use their tokens to run a Vvalidator or stake their tokens to a Validator to participate in securing and governing the dYdX Chain network. According to the post by Top 7 ICO, dYdX will unlock 15% of its total supply on December 1. The value of the tokens is estimated to be equivalent to $482.5 million.
Immutable (IMX)
Top 7 ICO showed that 1.87% of IMX’s total supply would be unlocked on December 1. The value of the tokens is estimated at $50.3 million. IMX is the native token for Immutable, the first L2 scaling solution for NFTs on Ethereum.
Optimism (OP)
Optimism’s next token unlock is scheduled for November 30, according to Top 7 ICO. It would inject 0.56% of OP’s total supply, equivalent to $41.5 million, into the crypto market. Optimism is an L2 blockchain on top of Ethereum that helps to scale the ecosystem by using Optimistic Rollups.
Sui (SUI)
Sui (SUI) was designed as a blockchain solution for making digital asset ownership fast, private, secure, and accessible to everyone. According to Top 7 ICO, 0.69% of SUI’s total supply, equivalent to $40.9 million, would be unlocked on December 3.
1inch Network (1INCH)
The 1inch Network will unlock 6.58% of its total token supply, equivalent to $33.7 million, on December 1, according to Top 7 ICO’s post. This would significantly increase the circulating supply of the native token of the blockchain designed for uniting decentralized protocols.
Axelar (AXL)
Axelar, the blockchain solution that claims to deliver secure cross-chain communication for Web3, implemented a token unlock yesterday, November 27. The project injected 2.31% of its total supply, equivalent to $18.7 million, into the crypto market. Following the token unlock, AXL lost 11% of its value, dropping the price from $0.7853 to $0.6861, according to data from TradingView.
Hedera (HBAR)
Hedera will release fresh HBAR tokens amounting to 0.36% of its total supply, equivalent to $11.1 million, in the crypto market on December 1, according to Top 7 ICO. The blockchain solution is recognized as the enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps).
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