- 1INCH and GAL token unlocks are scheduled for March 24 and 30 respectively.
- The two crypto tokens have yielded gains for holders over the past two weeks, token unlock could therefore be a sell-the-news event.
- 1INCH token unlock accounts for 0.004% of the total supply and GAL unlock will add 0.096% to circulation.
1inch (1INCH) and Galxe (GAL) have token unlocks scheduled for March 2023. Typically, token unlocks increase the circulating supply of an asset, negatively influencing the price. In the case of 1INCH and GAL, the two tokens have yielded gains for holders over the past week, making it likely that unlock turns into a “sell-the-news” event.
1INCH and GAL token unlock details
According to data from Token Unlocks, 1INCH unlock is scheduled for 24 March. A total of 53,572 1INCH tokens worth $27,440, nearly 0.004% of the supply.
1INCH token unlock
A week from the 1INCH token unlock, the GAL token unlock is scheduled to occur, where 192,307 tokens worth $346,154 will be unlocked. The GAL token unlock on March 30 will introduce 0.096% of the supply in circulation.
GAL token unlock
1INCH holders gained 8.2% over the past two weeks and GAL yielded 20.3% gains. Since the two altcoins have offered nearly double-digit gains since March 9, it is likely that the token unlock event turns out to be a “sell-the-news” for holders. 1INCH and GAL holders can expect a correction in their prices with the upcoming token unlock.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.