Gelato’s Token Unlocks Data Reveals Unlocking of IMX Worth $12.79 Million

02/27/2023 03:33 • Digital Disruptors • 92 views

On February 27th, Token Unlocks data showed that Gelato’s GEL tokens would unlock 44172450 IMX at 00:00 Beijing time on February 28th, with a value of about 12.79 million US dollars, accounting for 10.5% of the total supply (420 million). Among them, the IMX unlocked this time is all unlocked by private investors.

Data: GEL tokens worth US $12.79 million will be unlocked in the morning tomorrow, accounting for 10.5% of the total supply

Analysis based on this information:

The Token Unlocks Data of Gelato’s GEL tokens have revealed that the company would unlock 44172450 IMX at 00:00 Beijing time on February 28th. The value of this IMX is estimated to be around $12.79 million, accounting for 10.5% of the total supply of 420 million. These tokens have been unlocked exclusively by private investors.

When a company launches an Initial Coin Offering (ICO), one of the main objectives is to raise funds by selling its tokens to private and public investors. However, the tokens that are not sold during the ICO are usually locked up in smart contracts for a certain period, known as token locking. The purpose of token locking is to ensure that the company’s team and investors cannot immediately sell their tokens, which could potentially flood the market and reduce token value.

Gelato’s GEL tokens were initially launched in 2018, and the company managed to raise around $14 million through the ICO. Since then, the company has been developing its platform and collaborating with other blockchain projects to establish itself in the growing DeFi ecosystem. It is worth noting that Gelato’s GEL tokens have a limited supply of 420 million, which may add to their value in the long run.

The Token Unlocks Data has revealed that the IMX unlocked by private investors accounts for 10.5% of the total GEL token supply. The significant release of these tokens has raised concerns among sellers, who suggest that the value of GEL tokens may decline due to market flooding. However, this data could also be perceived as positive news for buyers, who can purchase the unlocked tokens at a relatively low price, anticipating a surge in value in the near future.

In conclusion, Token Unlocks Data has shown that Gelato’s GEL tokens would unlock a significant amount of IMX of around $12.79 million at 00:00 Beijing time on February 28th. These tokens are unlocked by private investors, which account for 10.5% of the total supply. The unlocking of these tokens has become a topic of discussion in the cryptocurrency market, with sellers anticipating a drop in token value while buyers scrambling to purchase the unlocked tokens.

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