• HBAR may fall below $0.55 as the AO indicated a bearish momentum for the token.
• OP had a bearish divergence, implying a downward momentum that could send it to $1.20.
• With a relatively fair RSI, DYDX has the tendency to consolidate around $2.15.

Hedera (HBAR), Optimism (OP), and dYdX (DYDX) are all gearing up for another round of token unlocks. According to on-chain tracking platform Token Unlocks data, $34.31 million worth of OP, representing 3.37% of its total supply would be released on August 30.

Also, 3.48% of HBAR’s total supply which amounts to $63.93 million would go into circulation on August 31. Lastly, DYDX would release 3.76% of its total supply this same week. Token unlocks refer to the release of previously restricted assets into circulation, so as to increase liquidity and potentially influence trading volumes.

As a recurring event in the cryptocurrency market, unlocks have often led to plunging prices for tokens affected, traders and investors may be watching for any potential effects on the token prices and the overall market sentiment as these projects prepare to release additiona…

The post HBAR, OP, DYDX Set for Another Round of Token Unlocks appeared first on Coin Edition.

• HBAR may fall below $0.55 as the AO indicated a bearish momentum for the token.
• OP had a bearish divergence, implying a downward momentum that could send it to $1.20.
• With a relatively fair RSI, DYDX has the tendency to consolidate around $2.15.

Hedera (HBAR), Optimism (OP), and dYdX (DYDX) are all gearing up for another round of token unlocks. According to on-chain tracking platform Token Unlocks data, $34.31 million worth of OP, representing 3.37% of its total supply would be released on August 30.

Also, 3.48% of HBAR’s total supply which amounts to $63.93 million would go into circulation on August 31. Lastly, DYDX would release 3.76% of its total supply this same week. Token unlocks refer to the release of previously restricted assets into circulation, so as to increase liquidity and potentially influence trading volumes.

As a recurring event in the cryptocurrency market, unlocks have often led to plunging prices for tokens affected, traders and investors may be watching for any potential effects on the token prices and the overall market sentiment as these projects prepare to release additiona…

The post HBAR, OP, DYDX Set for Another Round of Token Unlocks appeared first on Coin Edition.