- APT’s unlock might not affect the price, but a bearish move to $8.20 seemed likely.
- IMX dropped from the ascending channel, while SUI might give higher returns.
- SEI bulls have been quiet, and it was the same for ROSE.
According to Alex Wacy, a DeFi research specialist, many projects will undergo token unlocking this February. For the unaccustomed, token unlocks refer to the release of previously restricted tokens into circulation.
One of the reasons for the activity is to ensure that supply meets demand for a cryptocurrency. A look at the unlocks showed that about $1 billion worth of different tokens would be released into circulation.
Large token unlocks in February :• $DYDX – $91M February 1
• $SUI – $100M February 3
• $NYM – $14M February 3
• $GMT – $28M February 9
• $CGPT – $9M February 10
• $APT – $230M February 12
• $SEI – $85M February 15
• $MANTA – $51M February 18
• $ROSE – $19M February… pic.twitter.com/aK2dT2Phkk
— AlΞx Wacy (@wacy_time1) January 31, 2024
Furthermore, the post above showed that some top projects would also be involved. Some of the projects include Aptos (APT), Immutable (IMX), Sui (SUI), Sei Network (SEI), an…
The post Nearly $1B Worth of Tokens Set to Unlock in February: Key Dates and Projects appeared first on Coin Edition.