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

SUI, YGG and AGIX holders gear up for $11 million worth of token unlocks this weekend

Source Fxstreet

Sui, Yield Guild Games and SingularityNET token unlocks are lined up for this weekend.
A total of $10.91 million worth of assets are set to enter circulation following the unlock events.
SUI, YGG and AGIX holders can expect volatility in asset prices in the short term.

Cryptocurrency token unlocks are typically considered bearish events for asset prices. Unlocked tokens enter circulation, increasing selling pressure on the asset across cryptocurrency exchange platforms.

SUI (SUI), Yield Guild Games (YGG) token unlock events are scheduled for Saturday, and on Sunday another will come for SingularityNET (AGIX).

Also Read: Injective price braces for volatility ahead of nearly $150 million worth of INJ token unlocks

SUI worth $955K to flood markets in a linear unlock

On Saturday, up to 810,000 SUI tokens worth $955,800 will flood markets in a linear unlock. The tokens will be allocated to treasury, early contributors, stake subsidies and community reserve. The volume of tokens to be unlocked represents 0.07% of the token supply.

Notably, SUI is a decentralized Layer 1 (L1) blockchain that uses a delegated Proof-of-Stake (PoS) consensus mechanism.

SUI price is $1.4287 as of press time, up 19% on the day with trading volume rising almost 20%.

Also Read: Sui Price Prediction: SUI readies for a possible 45% breakout

YGG worth $16.69 million to enter circulation

The Yield Guild Games ecosystem will release up to 16.69 million YGG tokens worth $7.63 million to the market on Saturday, constituting 5.83% of the entire token supply.

A percentage of the unlocked tokens are likely to hit cryptocurrency exchanges, as token allocations go to the community, founders, investors, treasury and public sale. This could increase the selling pressure on the asset and drive Yield Guild Games price lower.

At the time of writing, YGG is trading for $0.4580, up 6% in the last 24 hours with trading volume rising 10% over the same time frame.

Also Read: YGG price remains stable despite $6.05 million worth of tokens entering the market

9.11 million AGIX tokens to flood markets in a cliff unlock

The SingularityNET ecosystem will offload up to 9.11 million AGIX tokens to the crypto market. The tokens, valued at $2.33 million, will be allocated to campaign supporters, the foundation, founders, the reward pool, a token sale and AGIX-ADA utility.

The last time the network held an unlock event was on December 28, where 9.25 million AGIX tokens worth $3.15 million hit the market.

At the time of writing, each AGIX token is selling for $0.2649, up 4% with a 24-hour trading volume surge of 2%.

Also Read: SingularityNET price trades within supply zone with 10% stakes on the table

For the layperson, there is a stark difference between linear and cliff unlocks. While the linear unlocks often unlock tokens daily, with equal amounts, the cliff unlocks often unlock a significant amount and specific number of tokens. The latter’s timelines can range from weeks to months or even years, depending on the project's direction for how many tokens are allocated and to whom, without rigid requirements.

SUI, YGG, AGIX token unlocks schedule

SUI/USDT 1-day chart, YGG/USDT 1-day chart, AGIX/USDT 1-day chart

Unlock events could offer sidelined investors an opportunity to enter positions in assets, taking advantage of the short-term volatility.

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

Recommended Articles

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Sep 20, Sun

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

WTI (USOIL) Is down 2.13% on Sep 22: What Is Driving the Move?WTI (USOIL) is down 2.13% at Sep 22 05:55(ET), now at $89.999, with a 7-day down of 12.84%.What is driving WTI (USOIL)’s stock price down today?The retreat in US crude oil benchmark prices was primari

Author TradingKey

Sep 22, Tue

WTI (USOIL) is down 2.13% at Sep 22 05:55(ET), now at $89.999, with a 7-day down of 12.84%.What is driving WTI (USOIL)’s stock price down today?The retreat in US crude oil benchmark prices was primari

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Yesterday 06: 22

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

Yesterday 06: 51

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Gold Price Forecast: XAU/USD drifts toward $4.300 with bears gaining traction Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Author FXStreet

23 hours ago

Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Popular Symbols