Wormhole to Unlock a Large Amount of Tokens in the Coming Days
In recent times, Wormhole (W) has experienced significant drops and is set to unlock a large amount of tokens in 4 days. Wormhole, one of the newest players in the crypto sector, has been struggling to gain momentum. The protocol, which allows users to transact across multiple blockchains, has been on a downward trend since its launch.
Mistakes in Wormhole’s airdrop program and the fact that altcoins have not yet entered a bull run have contributed to the price drops. W has seen a decrease of over 30% since July 1st, dropping from $0.3860 to $0.265.
In the coming days, W is expected to unlock a significant portion of its circulating supply, equivalent to 33.33% of the total supply. This unlocking is scheduled to take place on August 3rd, unlocking 600 million W tokens worth $170.70 million.
How Will the Wormhole (W) Unlock Affect the Market?
According to TokenUnlocks data, the unlocking of 600 million W tokens on August 3rd is expected to have an impact on the market. Traders and investors will be closely monitoring the effects of this unlocking on the price and trading volume of W in the coming days.
W Token Unlocking Schedule
With a total supply of 8 billion W tokens, 20% of the supply has been released into circulation so far.
Upcoming Token Unlock and Market Impact
It is expected that 600 million W tokens will be unlocked and distributed to the community and contributors during the upcoming unlocking event. There is speculation regarding whether the sale of these 170 million dollars worth of tokens will create selling pressure in the market.
Market Value Projection
Currently valued at 478,483 million dollars based on the existing supply, W’s market value is expected to increase to 650 million dollars after the unlocking event.
Future Unlocking Events
The next token unlocking event is scheduled for April 1, 2025. W will continue to unlock a small amount of tokens at regular intervals (inflation) until April 1, 2025.
After the unlocking event in 4 days, the circulating supply of W tokens will reach 2.4 billion. By April 1, 2025, the circulating supply is projected to be 3.027 billion.
