According to TokenUnlocks, a large number of tokens will be unlocked between February 27 and March 5. This means that previously untraceable tokens will become available for trading or investing, potentially unlocking millions of dollars in value.
source: GFI Blockchain Vietnam’s
Tokens that will be unlocked include Hedera (HBAR), Gelato (GEL), StepN (GMT), Yield Guild Game (YGG), EUL, Acala (ACA), Galxe (GAL) and NYM. These tokens represent many different projects and platforms in the crypto space, each with their own unique capabilities and growth potential.
Hedera (HBAR) is one of the most prominent unlocked tokens, accounting for 6.3% of the total supply and worth approximately $241.5 million. Hedera is a decentralized public network designed to provide fast, secure and fair transactions to users worldwide. Unique features of the platform include low transaction fees, high security levels, and the ability to support decentralized applications.
Gelato (GEL) is another noteworthy token, accounting for 10.5% of the total supply and worth around $12.4 million. Gelato is a protocol that allows developers to automate the execution of smart contracts on the Ethereum network. It aims to make it easier for developers to create and deploy smart contracts, increasing efficiency and reducing costs.
Token Unlock Frenzy: #ivy, #ice cream, #GMT, #YGG More content will be unlocked next week @azcoinnews https://t.co/qDCNcLbi7A
— Kyptos (@azcoinnews) February 26, 2023
StepN (GMT) is a relatively new project, but its tokens will be unlocked at a rate of $813,000 per day, totaling approximately $5.7 million. STEPN is a unique “Web3 Lifestyle App” that integrates GameFi functionality on the Solana blockchain. The app combines play-and-money games with fitness apps to create a new category called “Mobile Money.” Through STEPN, users can buy NFT sneakers and earn money in the game just by walking and jogging. The app aims to revolutionize the fitness app market by encouraging millions of users to adopt a healthier lifestyle through financial incentives. STEPN solves many challenges, including the “proof of exercise” dilemma, where users must prove they are actually exercising, and a reliable GPS system.
Yield Guild Game (YGG) is another project worth considering, unlocking 1.7% of the total supply, worth about $5.3 million. Yield Guild Game is a decentralized gaming guild that allows players to earn cryptocurrency by playing blockchain-based games. The platform has unique features such as playing games to earn rewards and participating in governance decisions.
EUL, Acala (ACA), Galxe (GAL) and NYM are also worth keeping an eye on as each represents a small percentage of the total supply but still has significant value. EUL is a platform that allows users to earn coins through surveys and polls. Acala is a decentralized financial platform that provides users with a wide range of financial services. Galxe is a decentralized identity verification platform, while NYM is a platform that provides blockchain-based application security solutions.
Overall, the unlocking of these tokens offers traders and investors a significant opportunity to profit from project and platform development. However, as with any investment, it’s important that you do your research and proceed with caution. You should consider the potential risks and rewards and consult a financial advisor before making any investment decisions.
This week will be an exciting one for the crypto markets as traders eagerly await the massive unlocking of tokens. It will be interesting to see how projects and platforms develop in the coming months and how they will affect the entire crypto space.
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Ming Ying
according to Kyptos
