MELANIA Token Unlock Set for February 19-20 – Will Selling Pressure Increase?
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The team behind the MELANIA meme coin, which was recently launched by First Lady Melania Trump, will begin unlocking its allocated tokens on February 19 or 20.
According to the project’s unlocking schedule, 3% of the total supply – equivalent to 30 million tokens worth approximately $39 million – will be released.
MELANIA’s First Token Unlock
The MELANIA team’s tokens were initially locked for 30 days, with the first unlock set to occur after this period. Following this, an additional 2.25% (22.5 million tokens) will be unlocked every month over the next 12 months as per EmberCN’s latest update. In total, 30% of the token supply will be unlocked over a 13-month period.
Following the launch of President Donald Trump’s TRUMP meme coin in January, First Lady Melania Trump introduced her own cryptocurrency, MELANIA. Upon its debut, the token caused a sharp 50% drop in her husband’s coin. MELANIA experienced its peak on launch day as it touched $13.73.
However, like TRUMP, it soon suffered a significant decline and ended up plummeting over 90% and crashed to $1.3 in February. Due to subsequent market volatility, MELANIA saw further declines and is currently trading at $1.26. It was down by almost 4% over the past 24 hours.
$649M in Crypto Unlocks Incoming
When tokens are unlocked, the circulating supply grows. This could potentially drive up selling activity and lead to greater price volatility amidst existing bearish pressure.
Zooming out, there are more token unlocks that could put pressure on the market. In fact, data compiled by Tokenomist revealed that in the next seven days, token unlocks totaling over $5 million will take place. In addition to MELANIA, this would impact several other tokens such as MURA, FTN, QAI, MRS, IMX, APE, ID, and PIXEL.
At the same time, large-scale linear unlocks will involve tokens including SOL, WLD, DOGE, TIA, AVAX, TAO, SUI, DOT, NEAR, JTO, ENS, FIL, and OM. The total estimated value of all unlocks is expected to exceed $649 million.
The post MELANIA Token Unlock Set for February 19-20 – Will Selling Pressure Increase? appeared first on CryptoPotato.
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MELANIA Token Unlock Set for February 19-20 – Will Selling Pressure Increase?
Share:
The team behind the MELANIA meme coin, which was recently launched by First Lady Melania Trump, will begin unlocking its allocated tokens on February 19 or 20.
According to the project’s unlocking schedule, 3% of the total supply – equivalent to 30 million tokens worth approximately $39 million – will be released.
MELANIA’s First Token Unlock
The MELANIA team’s tokens were initially locked for 30 days, with the first unlock set to occur after this period. Following this, an additional 2.25% (22.5 million tokens) will be unlocked every month over the next 12 months as per EmberCN’s latest update. In total, 30% of the token supply will be unlocked over a 13-month period.
Following the launch of President Donald Trump’s TRUMP meme coin in January, First Lady Melania Trump introduced her own cryptocurrency, MELANIA. Upon its debut, the token caused a sharp 50% drop in her husband’s coin. MELANIA experienced its peak on launch day as it touched $13.73.
However, like TRUMP, it soon suffered a significant decline and ended up plummeting over 90% and crashed to $1.3 in February. Due to subsequent market volatility, MELANIA saw further declines and is currently trading at $1.26. It was down by almost 4% over the past 24 hours.
$649M in Crypto Unlocks Incoming
When tokens are unlocked, the circulating supply grows. This could potentially drive up selling activity and lead to greater price volatility amidst existing bearish pressure.
Zooming out, there are more token unlocks that could put pressure on the market. In fact, data compiled by Tokenomist revealed that in the next seven days, token unlocks totaling over $5 million will take place. In addition to MELANIA, this would impact several other tokens such as MURA, FTN, QAI, MRS, IMX, APE, ID, and PIXEL.
At the same time, large-scale linear unlocks will involve tokens including SOL, WLD, DOGE, TIA, AVAX, TAO, SUI, DOT, NEAR, JTO, ENS, FIL, and OM. The total estimated value of all unlocks is expected to exceed $649 million.
The post MELANIA Token Unlock Set for February 19-20 – Will Selling Pressure Increase? appeared first on CryptoPotato.
Read More
Bitcoin struggles at $100K after a turbulent week; STRK, AB and UNI lead weekly gains