During the past days, several tokens were unlocked in varying quantities as the market went through its ups and downs. However, the crests and troughs seen on the charts weren’t because of the unlocks, but it was a reaction to Fed Chairman Jerome Powell’s speech at Jackson Hole. During the speech, Powell hinted at an interest rate cut, and the market went berserk, and any token unlock big enough to dismantle its own market dynamics was swaddled by the speech and went unseen.
With just a few days left for August to be over, the total aggregation of token unlocks will hit $3 billion. When segregating the token unlocks by crypto projects for August, layer-1 projects–infrastructure network projects unlocked $1.5 billion worth of tokens, which is almost half of the allotted unlocks for August, while blockchain services unlocked 690 million. Thereafter, the rest of the allocation was shared by Defi, Cefi, Gamefi, and other projects.
Now will now consider some important token unlocks that will happen during the course of the week. We have Sign, Slash and Undeads Games as the most important projects awaiting their token unlocks for the rest of the week.
Sign (SIGN)
Sign is a global infrastructure platform designed for credential verification and token distribution, offering two flagship products.
- Sign Protocol – an omnichain attestation protocol that powers digital public infrastructure for governments and serves as a foundational layer for decentralized applications.
- TokenTable – a smart contract–based platform for seamless token distribution, including airdrops, vesting schedules, and unlocks.
On the 28th of August, SIGN will unlock 49.17 million SIGN (0.49% of total supply) which is worth about $3.46 million and it represents 3.64% of the market cap. With this unlock, the total tokens unlocked will hit 15%.
SIGN unlock may only delay the bullish breakout
SIGN is testing the upper trendline of the bull flag, as it tries to break from the pattern. There is a green candlestick that is emerging and looks promising to break out. The RSI line, which indicates the status of the market, is currently approaching the simple moving average. This shows the bulls are gearing up for a breakout. If by any chance, the 0.49% of token unlocks has a chance of impacting the rising prices, it would be in terms of time. In other words, the token unlock cannot dump the prices but may delay the breakout.
Slash Vision Labs (SVL)
Slash Vision Labs (SVL) is a crypto payments platform built to make everyday use of digital assets simple and intuitive. As the creator of Japan’s first compliant crypto-backed credit card, Slash is bridging traditional finance with the world of digital currencies. Its flagship Slash Card, powered by the SVL token, serves as an entry point for new users exploring crypto in Japan. By delivering secure, self-custodial payment solutions, Slash Vision Labs is streamlining the adoption of cryptocurrency in daily life.
In four rounds, the crypto payment platform will unlock SVL 930 million (9.30% of total supply), which is worth about $38.49 million (18.8% of market cap). Once the tokens are unlocked, the total percentage of tokens unlocked will reach 60%+.
9.30% SVL token unlock will make the prices sway horizontally
After rebounding off of the 50-day moving average, the SVL is on an uptrend. Based on the SVL’s price behavior, which has been flat or consolidating after a spike, there could be another period of consolidation coming. Especially with an excess of tokens being available in the market after the unlock scheduled for day after tomorrow.
Undead Games (UDS)
Undeads Games (UDS) plunges players into a post-apocalyptic metaverse where survival meets strategy. At the heart of this ecosystem is UDS, the native token that fuels gameplay and community participation. It serves as the official currency for purchases, staking, governance, and play-to-earn rewards across the survival MMORPG and its companion titles. From trading and crafting to unlocking advanced game features, UDS empowers players to shape their journey and thrive in the Undeads universe.
Undead Games will unlock 1.27% of UDS tokens in three rounds, which will send the total unlocked percentage to 46%. As such, 3.18 million UDS, which is 1.27% of the total supply amounting to $ 3.84 million (3.11% of the Market Cap), will be unlocked on August 30.
UDS will lose value not because of token unlock but bear pressure
UDS is trading at $1.20 after establishing higher lows during the past month. On the four hour chart, the token is trading inside an ascending triangle.
At the time of publication, the token is facing resistance at the upper trendline of the ascending triangle. The 1.27% token unlock, although insignificant, will add a negligible amount of pressure on the prices. Not with token unlock, but by bear pressure, the UDS will fall towards the lower trendline of the ascending triangle.
With August coming to a close, it will be interesting to see how September will play out with $2.5 billion tokens to be unlocked.
