Data: IMX tokens worth nearly 19 million dollars will be unlocked on February 25
According to reports, Token Unlocks data shows that 18075990.62 IMX tokens of Immutable X will be unlocked at 18:00 Beijing time on February 25, with a value of about 18.78 million US dollars, accounting for 0.904% of the total supply (2 billion). Among them, 9615385 were unlocked for project development and 8460606 were unlocked for private sales.
Interpretation of this information:
The Token Unlocks data has revealed that Immutable X’s IMX tokens worth around 18.78 million dollars will be unlocked on February 25 at 18:00 Beijing time. The total number of unlocked tokens is 18075990.62, accounting for 0.904% of the overall supply, which is 2 billion. Out of the total number of unlocked tokens, 9615385 were allocated for project development purposes, while 8460606 were for private sales.
Immutable X is a platform for decentralized finance (DeFi) created by the Immutable company. Its IMX token is used to cover transaction costs on the network and as a governance token for community decision-making. The token unlocks associated with the company indicates the transfer of additional value to be distributed among early investors or partners of the project.
The unlocking of IMX tokens may have a significant impact on the prices of the token, and the market may respond with either positive or negative sentiment, depending on how the investors view the move. When new tokens are unlocked, it typically amplifies the supply immediately, thereby lowering the price. On the other hand, an unlocking event may enhance confidence and promote more significant investment in the company by potential investors.
It is common practice for many blockchain and crypto projects to utilize token unlocking as a way of incentivizing stakeholders, attracting new investors to the project, and providing liquidity for the token holders.
In general, it is essential to consider the unlocking of tokens since it can cause substantial volatility in token prices. The strategic planning of a token unlocking event may reduce the potential adverse effects and leverage the positive outcomes.
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