Data: GEL tokens worth US $12.79 million will be unlocked in the morning tomorrow, accounting for 10.5% of the total supply

On February 27th, Token Unlocks data showed that Gelato’s GEL tokens would unlock 44172450 IMX at 00:00 Beijing time on February 28th, with a value of about 12.79 million US dollars, accounting for 10.5% of the total supply (420 million). Among them, the IMX unlocked this time is all unlocked by private investors.

Interpretation of this information:

Gelato is a blockchain-based platform that provides decentralized infrastructure to developers for building dApps (decentralized applications). The Gelato Network aims to make dApp development simpler and more accessible, with a focus on user experience. The platform uses GEL tokens as the primary currency for transactions.

Token Unlocks data showed that a significant amount of IMX (a cryptocurrency) would be unlocked by private investors at a particular time. The unlocked IMX on February 28th was worth approximately 12.79 million US dollars, accounting for 10.5% of the total supply of Gelato’s GEL tokens, which is equal to 420 million.

The unlocking of IMX is a significant event for Gelato’s GEL token as it is likely to have a significant impact on its market value. Many investors keep an eye on token unlocking events as they have the potential to cause the token’s price to fluctuate significantly.

However, it is unclear what the private investors did with the unlocked IMX after they received it. They could have sold it on the market, held onto it as an investment or used it to make transactions on dApps built on the Gelato Network.

In summary, the unlocking of IMX by private investors is likely to have a significant impact on Gelato’s GEL token’s market value. It remains to be seen what the private investors did with the unlocked IMX.