Space ID Unlocking $120 Million Tokens Sparks Sell-off Worries
Wednesday, 20 March 2024, 18:25
Space ID Token Unlock
Space ID is preparing to unlock 78.49 million tokens worth $123.22 million on March 22.
Market Data
The unlock is significant, amounting to 16% of the token's circulating supply and 17 times larger than its 30-day exchange volume.
Sell-off Distribution
Key entities like the team, Seed Sale, and Advisors plan to increase their stash, potentially leading to a sell-off of over $49.72 million.
Price Analysis
Trading at $1.58, Space ID's overbought status could trigger a correction down to $0.60, causing a 60% loss for investors.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.