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COINTURK NEWS > Altcoin News > Token Unlocks Impact Cryptocurrency Prices Differently
Altcoin News

Token Unlocks Impact Cryptocurrency Prices Differently

In Brief

  • Token unlocks are major events in the cryptocurrency world.

  • SUI's price increased despite a significant token unlock.

  • DYDX and IO experienced different price impacts from their token unlocks.

COINTURK NEWS
COINTURK NEWS 1 year ago
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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.

Contents
SUI Token UnlockDYDX Unlocks $11.58 Million Worth of TokensIO Token Unlock at 4:00 PM

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.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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