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3 cryptocurrencies to watch this week

Token unlocking involves issuing cryptocurrencies that were previously locked under the terms of the fundraiser. Projects plan these releases carefully to avoid market pressure and prevent token price drops.

However, factors such as lack of liquidity or early profit taking by the investor can significantly affect the dynamics of the asset. Although next week lacks huge token openings, these three events are still worth watching.

Liquidity (LQTY)

  • Opening date: June 5

  • Number of tokens unlocked: 657,350 LQTY

  • Current supply in circulation: 96.08 million Qatari liras

Liquity is a decentralized borrowing protocol that allows users to take out loans against Ethereum at 0% interest. It operates through the stablecoin LUSD, which is pegged to the US dollar. The LQTY token is the native utility token of the Liquity platform. It is also used for governance and staking rewards.

The next LQTY token is expected to be unlocked on June 5. The release will include 657,350 tokens, reserved for the team and advisors.

Learn more: Cryptocurrency platforms in 2024: The 4 best platforms!

Open quantity
Open LQTY. Source: token.unlocks

Galxe (GAL)

  • Opening date: June 5

  • Number of tokens unlocked: 2.03 million GAL

  • Current supply in circulation: 115.5 million GAL

Galxe (formerly Project Galaxy) is a Web3 credentials network that allows developers to leverage digital credentials. It allows projects to reward and engage their users through various credential-based activities.

The GAL token is the native utility token of the Galxe platform and is used for governance, storage, and access to premium features.
On June 5, the project will unlock and distribute over 2 million GAL tokens between the Galxe Foundation, the team and the community.

Read more: What is the power of meme currencies in Web3 business marketing?

Open the global address list
Fatah is gone. Source: token.unlocks

Hash Flow (HFT)

  • Opening date: June 7

  • Number of tokens unlocked: 13.62 million HFT

  • Current supply in circulation: 406 million HFT

Hashflow is a decentralized exchange (DEX) designed to facilitate seamless cross-chain trading and zero-slippage asset swaps. It leverages advanced market-making techniques for efficient and accurate PR pricing. The HFT token is the native utility token of the Hashflow platform and is used for governance, storage, and user reward.

Also on June 7, the project will increase circulating supply by 13.62 million cubic feet. According to The token opensEarly investors and the core team will receive 7.63 million tokens. The remaining tokens will be used for community rewards and ecosystem development.

Open HFT
Open the HFT. Source: token.unlocks

Other openings next week also include Pendle (PENDLE), Euler (EUL), and 1INCH (1INCH), worth a total of over $12 million. Although many view the crypto opening as bearish. However, a well-planned schedule can improve the long-term viability of the project. In accordance with development milestones and progress, unlocks will motivate team members, improve community engagement, and promote ecosystem growth.

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