Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

Nearly $450 million worth of tokens unlock to look forward to this weekend and into next week

Source Fxstreet

Yield Guild Games and SingularityNET have small volumes of cliff unlocks this weekend, setting the tone for next week.
MEME, DYDX, OP, PRIME, SUI, and ENA tokens worth millions are due for cliff unlocks next week.
Token holders should brace for volatility as unlocks are typical bearish catalysts.

Data according to TokenUnlocks app shows that several projects are lining up to increase their circulating supplies starting this weekend and into the coming week.

Crypto token unlocks are events that influence prices of cryptocurrencies. Typically an unlock increases the volume of assets in circulation, contributing to the selling pressure.

Also Read: Expect more from altcoins with BTC stuck in range trade

MEME, DYDX, OP: High value tokens unlocks to watch

Memecoin (MEME)

Over 5.31 billion MEME tokens worth $155.98 million to be unlocked on May 3, comprising 31.97% of the circulating supply, this will be cliff unlock event. The tokens will go towards a community airdrop, advisory, and to investors.

The network is also running a linear unlocks, with 49.47 million MEME tokens worth $1.45 million lined up for daily unlocking beginning May 3.

dYdX (DYDX)

The dYdX ecosystem also has an unlock event lined up for May 1, where 33.33 million DYDX tokens worth $73.33 million will be unlocked. Accounting for 10.72% of the circulating supply, these tokens will be issued to founders, employees, future employees, advisors, and consultants.

Optimism (OP)

Ethereum Layer-2 (L2) network Optimism is also on the line up with a $58.47 million worth unlock, where 24.16 million OP tokens will be issued to core contributors and investors on April 29.

Echelon Prime (PRIME)

On April 30, the Echelon Prime network will unlock 1.66 million PRIME tokens worth $30.03 million and comprising 4.43% of the circulating supply.

Sui (SUI)

On the same day, Sui ecosystem will be allocating 4 million SUI tokens worth $4.88 million as the Manta Network unleashes 1.87 MANTA tokens worth $3.40 million.

Next week token unlocks

Ethena (ENA)

The Sensational Ethena will also unlock 53.60 ENA tokens worth $46.71 million and making, composed of 3.76% of the tokens in circulation.

Ethena is a synthetic dollar protocol on Ethereum, leveraging delta-hedged Ethereum and Bitcoin collateral to offer a stable, crypto-native currency and yield-generating 'Internet Bond'.

TokenUnlocks is now tracking@ethena_labs

( $ENA )

Link : https://t.co/AoqWF0DR0f pic.twitter.com/bxzVlSnhzC
— Token Unlocks (@Token_Unlocks) April 26, 2024

Token unlocks this weekend

Yield Guild Games (YGG)

The Yield Guild Games ecosystem will unlock 16.69 million YGG tokens worth $15.12 million this Saturday, April 27, making up for 4.57% of the circulating supply. Recipients will be the community, investors, the treasury and founders.

SingularityNET (AGIX)

On Sunday, April 28, AI crypto ecosystem SingularityNET will see 8.84 million AGIX tokens unlocked. The tokens, worth $8.32 million, will comprise 0.69% of the tokens in circulation. The tokens will be issued toward the AGIX-ADA utility.

Bitcoin, altcoins, stablecoins FAQs

What is Bitcoin?

Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

What are altcoins?

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.

What are stablecoins?

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

What is Bitcoin Dominance?

Bitcoin dominance is the ratio of Bitcoin's market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500 A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

Author Suzie

Sep 14, Mon

A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

Sep 15, Tue

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Author Suzie

Yesterday 08: 40

Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

23 hours ago

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dow drops 631 points as the Fed hikes — but futures are rebounding: what's next for US stocks?The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Author Irene Q.

5 hours ago

The Dow fell 631 points and the S&P 500 closed below 7,600 after the Fed hiked rates for the first time since 2023, with the dot plot showing 16 of 18 officials expect more tightening. Asia-session futures are already recovering — here are the levels and analyst views that decide whether 7,500 holds.

Popular Symbols