CELO has slipped 7.28% in the past 24 hours, now sitting at $0.3632. With more than 851.87K CELO tokens valued at about $307.43K
Celo (CELO) is set to face a big token unlock, and the market’s not exactly thrilled about it. Over the past 24 hours, CELO has slipped 7.28%, now sitting at $0.3632.
More than 851.87K CELO tokens, valued at about $307.43K (at press time), are set to be unlocked on March 30. The tokens to be unlocked are just 0.15% of the circulating supply.
The total locked tokens are 364.02 million, which is about 36.40%, the unlocked tokens are 562.53 million, which is 56.25%, and the tokens that remain untracked are 73.46 million, about 7.35%.
When tokens hit the market at once, prices tend to take a hit, and it looks like traders are already positioning themselves for what’s coming. CELO’s trading volume has dropped 4.91% to $14.53 million.
At the moment, 36.40% of CELO’s total supply remains locked, with 7.35% untracked. But the real question is—what will happen once those unlocked tokens hit the market? If a large chunk gets sold off, the price could take another hit.
With just over a day left until the unlock, all eyes are on CELO. Can the market absorb the extra supply, or is more downside on the way? The next 24 hours will tell.
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