Tokens Worth $1B Unlocking in February: Key Timelines

• Token unlocks worth $1 billion set for February across DeFi projects.
• Aptos (APT) token unlock scheduled for February 12, valued at $230 million.
• Immutable (IMX) to release $70 million in tokens on February 23.

Alex Wacy, a specialist in DeFi research, indicates that numerous projects are set to experience token unlocking events in February. Token unlocks are defined as the process by which previously restricted tokens are made available for circulation.

The activity aims to ensure that a cryptocurrency’s availability aligns with its market demand. Examination of the unlock events revealed that tokens valued at approximately $1 billion are set to enter circulation.

Additionally, the aforementioned post indicated the participation of several leading projects. These projects encompass Aptos (APT), Immutable (IMX), Sui (SUI), Sei Network (SEI), and Oasis Network (ROSE).

Aptos (APT)

The subsequent release of Aptos tokens is scheduled for February 12. The tokens will be unlocked and valued at $230 million at the reporting time. Past token releases have not significantly impacted the price of APT.

APT’s value stood at $8.77 at the time of this text. The APT/USD pair’s 4-hour chart indicates that the $8.75 support level enabled the cryptocurrency to bounce back after an initial decline.

However, strong opposition emerged at the $9.10 level, potentially stopping APT’s rise. Regarding the immediate future, the Aroon indicator suggested a downward trend.

At the time of this composition, the Aroon Up indicator, represented in orange, had decreased to 35.71%. Conversely, the Aroon Down indicator, shown in blue, had risen to 92.86%, indicating that the bearish market participants held greater control than their bullish counterparts.

The Relative Strength Index also indicated that the upward trend observed from January 23 to January 30 had diminished. Looking ahead, APT’s value can decrease to $8.20. Should an unlikely but strong bullish scenario occur, the token could rise to $9.50.

Immutable (IMX)

On February 23, Immutable intends to release tokens valued at $70 million. Over the past 24 hours, IMX’s price has decreased by 4.64% to $1.93. Like APT, the 4-hour chart for IMX indicates that the RSI metric rose when APT saw a price increase.

This upward trend contributed to the creation of a rising channel that pushed the price beyond $2. However, IMX subsequently reached a state of being overbought. As a result, the momentum had shifted to a bearish direction by the time of reporting.

The MACD corroborated this, as the indicator turned negative. If there is an absence of buying momentum, IMX could potentially fall to the subsequent support level at $1.80.

Sui (SUI)

The token release for SUI is set to be one of the earliest, and currently, the value of the tokens being unlocked is $100 million. Wacy has indicated that the price of SUI could yield significant profits, as this is the initial year of token unlocks for the currency, and traditionally, such events have led to this outcome.

On January 30, SUI achieved its highest-ever value of $1.65. However, subsequent selling for profits has caused its price to decline. Currently, as of the latest reports, the price of SUI stands at $1.46.

Regarding the trend, the positive Directional Indicator (green) indicated decreased buyer control. Conversely, the negative Directional Indicator (red) was on an upward trajectory, indicating increased seller activity in the market.

Should the negative directional indicator (-DI) persist in its upward trend while the average directional index (ADX), represented in yellow, stays over 25, the price of SUI could decline.

Additionally, signals from the Fibonacci retracement suggested that the token could potentially retract to the 0.5 or 0.618 levels. If this occurs, potential entry points for SUI could be approximately $1.25 and $1.32.

Sei (SEI)

Past instances of SEI token unlocks had little to no effect on its market price. On February 15, the initiative plans to distribute $85 million worth of tokens.

Over the majority of the recent days, the price of SEI has been on a downward trend. This decline is a departure from the token’s earlier performance, which significantly increased from $0.23 to $0.88. According to the Awesome Oscillator (AO), the momentum indicated that SEI was experiencing a period of low activity, which was to the detriment of bullish investors.

At the time of this report, the Arctic Oscillation (AO) index stood at -0.012, indicating a growing negative trend. The Chaikin Money Flow (CMF) indicator corroborated the AO’s downward movement. Analyzing from a technical perspective, it appears unlikely that SEI will experience a quick recovery. Furthermore, its price could fall to $0.55.

Oasis Network (ROSE)

The token unlocks for the Oasis Network appeared to be the smallest among the five. They had a value of $19 million and were scheduled to occur on February 18.

As of the time of reporting, ROSE was trading at $0.0999. However, the 4-hour chart indicated that its price had dropped beneath both the 9 and 20 Exponential Moving Averages (EMAs). The 9 EMA, represented in blue, stood at $0.102, while the 20 EMA, depicted in yellow, was at $0.104.

This stance suggests that the trend was downward. Therefore, the price of ROSE could persist in its fall.