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Check out the top 3 token unlocks next week
Token unlocking involves the release of previously locked tokens under the terms of the fundraising. Projects carefully plan these releases to avoid market pressure and prevent a decline in token prices.
However, factors such as lack of liquidity or early profit-taking by investors can have a significant impact on the dynamics of an asset. Even though it won’t be possible to unlock large amounts of tokens next week, these three events are still worth keeping an eye on.
Liquidity (LQTY)
- Unlock date: June 5th
- Number of tokens unlocked: 657,350 LQTY
- Current circulating supply: 96.08 million LQTY
Liquity is a decentralized lending protocol that allows users to take out loans Ethereum with 0% interest. Operates through a stable currency, LUSD, which is pegged to the US dollar. The LQTY token is the native utility token of the Liquity platform, used for governance and staking rewards.
The next LQTY token unlock is scheduled for June 5. The release will include 657,350 tokens, reserved for teams and advisors.
To know more: Top 6 DeFi Lending Platforms
Galx (GAL)
- Unlock date: June 5th
- Number of tokens unlocked: 2.03 million GAL
- Current circulating supply: 115.5 million GAL
Galxe (formerly Project Galaxy) is a Web3 credential data network that allows developers to leverage digital credentials. It allows projects to reward and engage their users through various credential-based activities.
The GAL token is the native utility token of the Galxe platform, used for governance, episodeand access premium features.
On June 5, the project will unlock and distribute over 2 million GAL tokens between the Galxe Foundation, the team and the community.
To know more: Decentralized identity and the future of Web3: what to know
Hash stream (HFT)
- Unlock date: June 7th
- Number of tokens unlocked: 13.62 million HFT
- Current circulating supply: 406 million HFT
Hashflow is a decentralized exchange (DEX) designed to facilitate cross-chain trading and zero-value asset exchanges slip. Leverage advanced market-making techniques to achieve efficient and accurate pricing. The HFT token is the native utility token of the Hashflow platform, used for governance, staking and user reward.
On June 7, the project will increase the circulating supply by 13.62 million HFT. Second Unlocks via token, early investors and the core team will receive 7.63 million tokens. The remaining tokens will be used for community rewards and ecosystem development.
To know more: 17 Best Cryptocurrency Exchanges Without KYC: Top Picks in 2024
Other unlocks next week include Pendle (PENDLE), Euler (EUL) and 1 inch (1INCH), with a total value exceeding $12 million. While many view token unlocks as bearish, a well-planned program can strengthen a project’s long-term viability. In line with milestones and development progress, unlocks will motivate team members, increase community engagement, and promote ecosystem growth.
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