On March 19, Algorand will launch its second token unlock exercise.
Algorand, a Proof-of-Stake (PoS) blockchain that is third-generation, is preparing for its next token unlock exercise. According to the announcement on the Token Unlocks, the next token unlock for Algorand will begin on March 19, 2024, and last for a total of 31 days.
For the duration of the token unlock exercise, the project is releasing 2.29 million ALGO daily into the Algorand network, according to the released information. The daily unlocked volume would be almost $516,000 in fiat currency, according to ALGO’s worth as of the article.
According to the statistics provided by Token Unlock, a staggering 9.77 billion ALGO, which accounts for over 98% of the entire supply of the blockchain token, have been unlocked and are now in circulation. Consequently, the project is still holding onto 234.75 million ALGOs, which is around 2% of the overall supply.
After 31 days of unlocking 2.29 million tokens daily, a total of 70.99 million ALGOs will be available for the forthcoming exercise. After deducting that amount, there would be 163.76 million ALGOs available for future unlocks.
Tokenomics dictates how blockchain projects plan their token-unlocking initiatives in advance. Token economic dynamics and supply-and-demand balance are two things that most projects utilize it to study. The previous token unlock exercise for Algorand began on February 19 and ended 29 days later. The project completed the release of 2.48 million ALGOs, with a value of $486,990.
According to statistics from TradingView, Algorand has rallied 41% since the commencement of the latest token unlock exercise, trading for $0.269 at the time of writing. When thinking about the timing of ALGO in relation to the impending altseason and the emerging bull run, users eagerly anticipate how future unlocks will affect the price.
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