ID Coin and Those Cryptos Are Unlocked: What to Expect From the Market?

The cryptocurrency market is preparing for the launch of tokens, including ID coin, worth a total of $208.53 million in the coming week.

Major cryptocurrency holdings are set to be unlocked over the next seven days, with a total of $208.53 million in tokens slated to hit the market. This development is likely to trigger a selling wave in the crypto market.

According to Drops Tab data, 18 different tokens are scheduled to be unlocked in the next seven days. Among the most notable are:

1. ID coin ($144.23 million)

2. GMT ($29.88 million)

3. FIDA ($20.09 million)

Together, these three tokens account for over 90% of the total value of tokens to be unlocked. ID coin alone is set to see a massive batch of tokens hit the market.

This event is significant because it could lead to a selling wave in the cryptocurrency market. When tokens are unlocked, their holders are free to sell them on exchanges. This can increase the supply of a particular cryptocurrency in the market, which in turn can put downward pressure on its price.

In addition to these three tokens, SAFE, ALT, FP, ID, FIDA and 18 other tokens will be unlocked in the coming period. You can access the list of all token expansions covering the next 400 days via the Drops Tab and determine your investment strategies accordingly.

According to Drops Tab data, GMT, FIDA and ID coin will be unlocked in the next seven days. Here is a short summary of each token and its unlocking event:

GMT is a token used in the STEPN Web3 move-to-earn application. GMT tokens are used for governance, minting sneakers and leveling up in the STEPN application. A total of 600,000 GMT tokens will be unlocked on March 10.

STEPN is a Web3 move-to-earn application that allows users to earn crypto by walking, jogging or running outdoors. Users can purchase sneakers and mint new sneakers using GMT tokens. GMT tokens can also be staked to earn rewards and participate in STEPN governance.

FIDA is a token used in the Solana decentralized exchange Serum. FIDA tokens are used for paying trading fees on Serum, participating in governance and earning rewards by providing liquidity to the Serum order book. A total of 1,125,000 FIDA tokens will be unlocked on March 12.

Serum is a decentralized exchange that operates on the Solana blockchain. Serum was founded by FTX and Alameda Research and is known for its high throughput and low trading fees.

ID is a token used in the InsureDAO decentralized insurance protocol. ID tokens are used for paying insurance premiums, participating in governance and earning rewards by providing coverage to other users. A total of 1.2 billion ID tokens will be unlocked on March 13.

InsureDAO is a decentralized insurance protocol that allows users to purchase coverage for their crypto assets, provide coverage to other users and earn rewards. InsureDAO is known for its transparent and efficient insurance mechanisms.

These tokens are typically sold by their holders to realize their profits or to participate in other investment opportunities. As a result, the price of the unlocked tokens usually drops in the following days.

Investors that purchased these tokens during pre-sales or initial public offerings at a lower price tend to sell their holdings to book their profits. Some investors might also sell their tokens, even at a loss, to invest in newer and higher-potential projects.

However, it is important to note that not all cryptocurrencies have a staking feature. In such cases, investors might choose to sell their tokens to participate in other protocols or simply withdraw their funds from the虧損 crypto market.