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Cryptocurrency enthusiasts often consider token unlocks as major events. Each token unlock means millions entering the market. While it doesn’t always lead to a sell-off, the crypto community closely monitors these events.
SUI Token Unlock
SUI had a significant event today. Approximately $53 million worth of SUI tokens were unlocked at 12:00 PM. Now, 64.19 million SUI tokens are circulating in the market.
Following this event, SUI’s price stands at $0.81. The price has increased by 2.74% in the last 24 hours. Thus, the token unlock did not negatively impact SUI’s price.
DYDX Unlocks $11.58 Million Worth of Tokens
Another token unlock event occurred with DYDX. At 12:00 PM, DYDX unlocked 8.33 million tokens. This unlock is valued at approximately $12 million.
Following the unlock, DYDX is trading at $1.36. The token has seen a daily decrease of 1.45%, indicating a partial impact from the unlock.
IO Token Unlock at 4:00 PM
Another significant event today involves the IO token. At 4:00 PM, IO will unlock tokens worth $22.55 million.
IO will unlock 59.63 million tokens. Before the unlock, IO’s price has dropped by 4% to $3.12. This indicates that the unlock has affected IO’s price. As seen, despite token unlocks in all three cryptocurrencies, prices have behaved differently. Therefore, it’s not always accurate to predict a price drop with token unlocks. It’s better to say that token unlocks may potentially lower prices.
