In the ongoing challenging market conditions, the upcoming week is going to be super interesting as over $40.06 million worth of tokens are scheduled to be unlocked. Recently, a tokenomics dashboard platform made a post on X (previously Twitter) stating that nearly 6 crypto projects are going to unlock their tokens between April 22, 2024, and April 28, 2024.
Upcoming token unlock in April 2024
Following this massive token circulation, it is expected that prices may fall for these tokens as circulation increases. However, these crypto projects are Space ID, Yield Guild Games, SingularityNET, Cartesi, and others.
The first crypto project is Space ID, scheduled for April 22, 2024. During this token unlock, this project will unlock nearly 18.48 million ID tokens worth $13.58 million, which is equivalent to 4.29% of the circulating supply. Additionally, this project unlocked over 28% of its tokens.
The top crypto project is SingularityNET, scheduled for April 28, 2024. During this token unlock, this project will unlock nearly 8.70 million AGIX tokens worth $7.36 million, equivalent to 0.68% of the circulating supply. Additionally, this project unlocked over 70.54% of its tokens.
However, the Yield Guild Games crypto project is the highlight of this token unlock, scheduled for April 27, 2024. During this token unlock, this project will unlock nearly 16.69 million YGG tokens worth $14.01 million, which is equivalent to 5.33% of the circulating supply. Additionally, this project unlocked over 60% of its tokens.
Some other crypto projects like Cartesi, Akala, and Euler are also scheduled to unlock a massive $4.26 million CTSI token, $0.51 million ACA tokens, and $330K EUL tokens in the upcoming week. However, currently, all these tokens are experiencing massive upside momentum.
Overview of the crypto market
Despite these massive tokens unlock, currently overall cryptocurrency is experiencing a massive over 3.3% upside momentum, and investors as well as traders are also showing their strong interest in this market, as the 24-hour trading volume is increased by 5% according to CoinMarketCap data. Whereas, top cryptocurrencies like Bitcoin, Ethereum, Solana, and Binance Coin also experienced massive over 5%, 3.5%, 10%, and 3% of upside momentum.