Over 1 Billion Hedera ( HBAR) Tokens Unlocking Soon: Potential HBAR Price Dip as Investors Turn Eyes to Sparklo (SPRK)
As Hedera ( HBAR) prepares for the unlocking of roughly $1.2 billion of Hedera ( HBAR) tokens, equivalent to $65 million, on June 1, speculations about the potential price impact abound. This substantial release follows the 95 million Hedera ( HBAR) unlocking on Saturday, raising the total number of released tokens to 62.68%. This unlocking event will account for 2.547% of Hedera ( HBAR) total supply, equating to precisely 1,273,353,491 HBARs, as stated by Token Unlock.
Historically, such token unlocks have been viewed as bearish signals in the cryptocurrency market, as they tend to inflate the total number of tokens in circulation. This increased supply can potentially trigger a temporary price dip due to supply-demand imbalances. However, the effect might not be as dire as expected, given Hedera ( HBAR) history of multiple token unlocks, which has helped manage selling pressure. Thus, despite the unlocking, Hedera ( HBAR) might be less prone to a severe price drop.