An Overview of Token Unlock Data: Understanding AXS, IMX, and GAL Tokens

04/17/2023 03:39 • NFT Newsflash • 116 views

On April 17th, according to TokenUnlocks data, the following tokens were about to be unlocked this week (from April 17th to April 23rd). Among them, at 21:10:00 on April 17th, 3914250.02 AXS (approximately $35.77 million) were unlocked, accounting for 1.45% of the total supply; At 18:00:00 on April 22nd, 18075990.62 IMX (approximately $21.32 million) were unlocked, accounting for 0.904% of the total supply; At 20:10:00 on April 20th, 192307.69 GALs (approximately $400000) were unlocked, accounting for 0.096% of the total supply.

Data: Over 3.91 million AXS will be unlocked this week, valued at approximately $35.77 million

Introduction

Token unlock events are critical moments for the crypto sector, defining the supply of digital assets available for the markets. Recently, TokenUnlocks data revealed several token unlock events happening in April 2021. This article provides insight into three of these token unlocks: AXS, IMX, and GAL tokens.

AXS Token Unlock

On April 17th, TokenUnlocks data revealed the unlocking of 3914250.02 AXS tokens, valued at approximately $35.77 million. This amount corresponds to 1.45% of the total supply of AXS tokens. AXS tokens are a critical component of the Axie Infinity ecosystem, a blockchain-based game that allows players to breed, battle, and trade creatures called Axies. Those who hold AXS tokens have the power to participate in governance decisions and NFT sales on the Axie Infinity platform.

IMX Token Unlock

On April 22nd, 18075990.62 IMX tokens were unlocked, according to TokenUnlocks data. The total value of these tokens amounts to approximately $21.32 million, equal to 0.904% of the total supply. IMX tokens are used on the Immutable X layer-two scaling solution for Ethereum. The platform is known for its commitment to blockchain scalability and zero-gas fees on Ethereum. The IMX token is a critical component for governance decisions on the Immutable X platform.

GAL Token Unlock

On April 20th, TokenUnlocks data revealed the unlocking of 192307.69 GAL tokens, valued at approximately $400000. This amount accounts for 0.096% of the total supply of GAL tokens. GAL tokens are used on the Galatasaray fan token platform, a blockchain-based voting and rewards system for the Galatasaray football club. Fans who hold GAL tokens have the power to help steer the direction of the club and access exclusive fan experiences.

Conclusion

In conclusion, token unlocks have the potential to impact the crypto market in significant ways. The recent unlock events of AXS, IMX, and GAL tokens highlight the importance of understanding the unique properties and use cases of each token. As the crypto sector continues to evolve, it is essential to stay informed and aware of these events’ potential impact on the market.

FAQs

Q: What is TokenUnlocks data?
A: TokenUnlocks data is a specialized data service that provides information on token unlock events in the crypto market.
Q: How do token unlocks affect crypto markets?
A: Token unlocks can potentially impact the supply and demand of cryptocurrencies, altering their price trajectory.
Q: What are the uses of AXS, IMX, and GAL tokens?
A: AXS tokens are used for governance and NFT sales on the Axie Infinity platform, IMX tokens are used for governance decisions on the Immutable X platform, and GAL tokens are used for voting and rewards on the Galatasaray fan token platform.

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