.AxieInfinity's AXS coin is tracking the broader crypto market lower ahead of an impending unlock of over 18 million tokens on Sunday. reports godbole17.
show on April 23, Axie will free up 18.89 million tokens, worth $155.27 million at the current rate, amounting to 7% of the cryptocurrency's total supply of 270 million.
Axie kicked off a staggered 65-month token unlock in 2020, and so far, 176.55 million tokens have been made available. The remaining 77.76 million will be unlocked by the end of 2025. Unlocks are widely considered bearish catalysts. That's because holders benefiting from the unlock have the new ability to sell their coins, potentially adding to the supply in the market. It's common for early stage projects to lock tokens to prevent big holders, typically early investors or project team members, from selling their coins all at once and causing a price slide.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Connecting DeFi: How multichain token systems can improve liquidityMultichain token systems have the potential to revolutionize the blockchain industry and make DeFi more fluid and connected.
Baca lebih lajut »
Pepe (PEPE) Token Shows Serious Red Flags: What's Wrong With It?Pepe could be hottest meme token on whole market right now, but investors should remain vigilant
Baca lebih lajut »
Ultimate Place to Follow Cryptocurrency Token Unlocks | HackerNoonAre you prepared to explore the fascinating realm of cryptocurrency token unlocks? - cryptocurrency crypto
Baca lebih lajut »
Optimism’s OP Token Jumps Ahead of a16z Project Announcement.optimismFND's $OP token rallied nearly 6% on Wednesday after a16z announced it would be building on the layer 2 blockchain. LizKNapolitano reports
Baca lebih lajut »
New Trump NFTs sell out on day oneA second NFT drop featuring former U.S. President Donald Trump sold out within 24 hours of launch, netting over $4.65M.
Baca lebih lajut »
PawSwap (PAW) Listed on Top New Exchange, Here's How Price ReactsPawSwap's $PAW scores a new listing on a large crypto exchange. Shibarium Puppynet Dezaxe
Baca lebih lajut »