As November draws to a close, the crypto market is abuzz with two significant token unlock events. Acala is set to release 4.66 million ACA tokens, while SUI unlocks 900k SUI tokens. Investors closely monitor these events for insights into the market dynamics. In this blog post, we will explore both token unlock events and provide an in-depth look into the statistical realms of these tokens.
Upcoming ACA Token Unlock Event
Acala is constructing the foundational liquidity layer for web3 finance, ensuring captivation and sustainability. Its mission is to establish robust infrastructures for Hybrid Finance (HyFi) by combining elements of both decentralized finance (DeFi) and centralized finance (CeFi) with the help of utilizing both crypto and real-world assets. Acala introduces a Universal Asset Hub that serves as the hosting platform for the multi-chain liquid staking token (LST) protocols, including liquid DOT (LDOT).
Additionally, it features a decentralized exchange using automated market maker (AMM) principles and an application platform that is both EVM-compatible and highly customizable, built on Substrate. Acala’s security is reinforced by its integration with Polkadot. This positions itself as the liquidity gateway for Polkadot parachains and L1/L2 blockchains.
Current Statistics
At the time of writing, ACA is priced at $0.06047. It has a market cap of $48,188,405 with a circulatory supply of 828,566,666 ACA, i.e., 51.79% of the total supply (1 Billion).
ACA Unlocks 4.66m Tokens
On November 25, 2023, ACA unlocked 4.66m ACA tokens into the crypto market. These tokens will be released for Crowdioan Participants. This token unlock event of 4.66m ACA tokens worth $2.86.52k will cover 0.58% of the circulatory supply.
ACA Previous Token Unlocking
Previously, ACA unlocked 27.43m ACA tokens worth $1.60m at the beginning of November. These tokens will be allocated to the following stakeholders.
- 11.25m ACA tokens were unlocked for the Acala Team worth $655.30k. It was 1.36% of the circulatory supply and market cap.
- 16.18m ACA tokens were released for the Strategic Partners worth $942.66k. It covered 1.95% of the circulatory supply and market cap.
It is significant to note that ACA was valued at $0.05598 on the previous launch event. However, as of now, it is priced at $0.06047. So, the percentage increase in the price of ACA from $0.05598 to $0.06047 is approximately 6.27%.
This leaves us with an interesting question about the future price of ACA tokens after this upcoming token unlock event.
Forthcoming SUI Token Unlock
Sui is a special kind of computer system that makes it easy and fast for people to own digital things like money or other assets. It’s like a super-efficient computer language called Move that helps it do things really quickly and securely. Sui can handle many tasks at the same time, making it fast and not too expensive
Sui’s design tackles common problems found in the first generation of blockchains by incorporating features like horizontal scaling, composability, sparse replay, and on-chain storage.
Current Statistics
At this point in time, the SUI token is priced at $0.5312. It has a market cap of $512,035,837 with a circulating supply of 965,577,711 SUI, i.e., 9.66% of the total supply (10,000,000,000 SUI).
SUI Unlocks 900k Tokens
On November 28, 2023, SUI is unlocking 900k SUI tokens worth $482.86k. These tokens will be unlocked as Stake Subsidies.
Previously, On 03 November 2023, SUI unlocked 34.62m tokens worth $18.35m. It was 3.58% of the circulatory supply. These tokens were allocated to the Community Access Program. It is important to note that SUI was priced at $0.4544 on the previous unlock event. Meanwhile, it is currently at $0.5304. So, the percentage increase in the price of SUI from $0.4544 to $0.5304 is approximately 16.71%.
Conclusion
As we wrap up our exploration of November’s ACA and SUI token unlock events, the gaze shifts toward what lies ahead for these dynamic cryptocurrencies.
Acala’s commitment to bridging decentralized and centralized finance cements its role in web3 finance. With the upcoming release of 4.66 million ACA tokens and a previous 6.27% price increase, ACA’s journey as a liquidity gateway and HyFi ecosystem participant sparks anticipation. SUI’s unique design and recent 16.71% price surge post-token unlock showcase its prowess in the digital asset realm. The release of 900,000 SUI tokens as Stake subsidiaries sets the stage for continued growth, with scalability and composability at the forefront.
In the dynamic cryptocurrency landscape, each unlock event unveils a chapter in a project’s evolution. Investors watch closely as ACA and SUI navigate the ever-shifting tides, providing insights into the unfolding narrative of decentralized finance and digital asset ownership. The canvas is open, and the market awaits the next strokes in these tokens’ journeys.
