Major Token Unlocks Planned for March

We are looking at substantial token unlocks planned for March through the releases of large tokens from Immutable (IMX), Optimism (OP), and Space ID (ID)

March will see the release of large tokens from Immutable (IMX), Optimism (OP), and Space ID (ID) among others.

The planned token unlocks are expected to add millions of tokens to the market.

Together these unlocks could pose a threat to market sentiment and upcoming price movements with the total value of the unlocks exceeding $100 million.Key Token Unlocks to Watch

On March 21 Immutable X (IMX) is expected to release 24.52 million IMX tokens, valued at $13.35 million, while Plume Network will unlock 108.34 million PLUME tokens for a total estimated value of $20.74 million. IMX is a Layer-2 scaling solution for Ethereum-based gaming while Plume Network is a decentralized data-sharing protocol that has seen growing adoption.

The Space ID (ID) platform will release 78.49 million tokens on March 22, with an estimated total value of $19.60 million, which amounts to 3.93% of its total supply. The platform stands out in the blockchain naming service industry for delivering decentralized identity services through its platform.

March 25 will see ALTLayer (ALT) release 240.80 million tokens, valued at $9 million, and later on March 27, Yield Guild Games (YGG) will distribute 11.49 million tokens for a total estimated value of $2.28 million.

The last wave of token unlocks will see three new projects release their assets on March 31.

Market Impact and Investor Sentiment

The large OP token release by Optimism on March 31, with an estimated value of $27.49 million, is noteworthy given that previous similar events led to volatility within the Layer-2 scaling solution. The impact on Space ID tokens will be evident with the March 22 supply unlock adding 3.93% to the circulating supply, which will directly affect the price stability of the Space ID tokens.

However, the minimal impact from supply curve effects is likely for SOSOVALUE (0.67%) and Grass (0.37%) as their small supply increase is deemed insignificant with less than 1% increases.

What’s Next?

The upcoming token unlocks will be closely monitored by investors who are keen to follow the market response. Traders will then take strategic positions by anticipating upcoming market drops and potential buying situations. Token values from projects that maintain utility and continue development usually get absorbed by market forces without causing any negative impact.