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Find Out 3 Major Token Unlocks of Next Week
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. While next week lacks massive token unlocks, these three events are still worth keeping an eye on.
Liquity (LQTY)
- Unlock date: June 5
- Number of tokens unlocked: 657,350 LQTY
- Current circulating supply: 96,08 million LQTY
Liquity is a decentralized borrowing protocol that allows users to take out loans against Ethereum with 0% interest. It operates through a stablecoin, LUSD, which is pegged to the US dollar. The LQTY token is the native utility token of the Liquity platform, used for governance and staking rewards.
The next LQTY token unlock is scheduled for June 5. The release will include 657,350 tokens, reserved for team and advisors.
Read more: Top 6 DeFi Lending Platforms
Galxe (GAL)
- Unlock date: June 5
- Number of tokens unlocked: 2.03 million GAL
- Current circulating supply: 115.5 million GAL
Galxe (previously Project Galaxy) is a Web3 credential data network that empowers developers to leverage digital credentials. It enables projects to reward and engage their users through various credential-based activities.
The GAL token is the native utility token of the Galxe platform, used for governance, staking, and accessing premium features.
On June 5, the project will unlock and distribute over 2 million GAL tokens among the Galxe Foundation, team, and community.
Read more: Decentralized Identity and the Future of Web3: What To Know
Hashflow (HFT)
- Unlock date: June 7
- Number of tokens unlocked: 13.62 million HFT
- Current circulating supply: 406 million HFT
Hashflow is a decentralized exchange (DEX) designed to facilitate seamless cross-chain trading and asset swaps with zero slippage. It leverages advanced market-making techniques to pr efficient and accurate pricing. The HFT token is the native utility token of the Hashflow platform, used for governance, staking, and rewarding users.
On June 7, the project will increase the circulating supply by 13.62 million HFT. According to TokenUnlocks, early investors and the core team will receive 7.63 million tokens. The remaining tokens will be used for community rewards and ecosystem development.
Read more: 17 Best No KYC Crypto Exchanges: Top Choices in 2024
Other unlocks of the next week include Pendle (PENDLE), Euler (EUL), and 1inch (1INCH), with total value exceeding $12 million. Although many consider token unlocks bearish, a well-planned schedule can strengthen a project’s long-term viability. Aligned with milestones and development progress, unlocks will motivate team members, boost community engagement, and promote ecosystem growth.
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