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Throughout the week, several altcoins with potential impact on the cryptocurrency market will have their token unlocks. Data from Token Unlocks raises alarm about the upcoming unlock of the service token LDO for the liquid staking platform Lido DAO. The data shows that 1.5 million LDO will be unlocked on September 13th.
Unlocking $2.22 Million Worth of LDO
According to Token Unlocks data, at 18:33 GMT on September 13th, 1.5 million LDO, which represents 0.17% of the circulating supply, will be unlocked. In other words, $2.22 million worth of LDO will be unlocked. The unlocked LDO will be distributed directly among investors. According to CoinMarketCap data, at the time of writing, LDO is trading at $1.50, recording a 3.11% increase in the last 24 hours.
Krypto unlocking in the crypto world refers to the release of previously locked or restricted tokens for sale or transfer. These restrictions are usually part of vesting agreements made during initial offerings to maintain token price stability and encourage long-term holding. Unlock events can directly impact the market dynamics of altcoins as they cause a sudden increase in circulating supply.
Other Altcoins with Upcoming Token Unlocks
Apart from LDO, there will be several altcoins with token unlocks throughout the week. One of these unlocks will occur in Euler (EUL). On September 14th at 02:17 GMT, 150,000 EUL will be unlocked and released into the market. This represents approximately $400,000 in value, accounting for 0.83% of the circulating supply.
Furthermore, on September 16th at 03:00 GMT, 7.29 million Flow (FLOW) will be unlocked. This unlock is worth approximately $3.01 million and represents 0.70% of the circulating supply.
Lastly, on September 17th at 03:00 GMT, $47.10 million worth of ApeCoin (APE) will be unlocked. The unlocked APE tokens account for 11.02% of the circulating supply.
