Top Crypto Unlocks This Week: SPACE ID (ID) and Merlin Chain (MERL) Joins the Top 7

Crypto token unlocks remain a crucial event for investors to monitor. This week, seven notable tokens are set to undergo major unlocks, potentially impacting their price action and overall market sentiment.

Seven crypto tokens are set to undergo major unlocks this week, which could have a significant impact on their price action and the overall market sentiment.

According to Coin Post, here are the top token unlocks for this week.

* SPACE ID (ID)

* Merlin Chain (MERL)

* STEPN (GMT)

* MAGIC (MAGIC)

* GNY (GNY)

* PAID Network (PAID)

* Rally (RLY)

Token unlocks occur when a portion of tokens that were previously locked up for a certain period of time are released into the circulating supply. These tokens can be used by their holders to sell, trade, or participate in governance.

However, large token unlocks can also lead to increased selling pressure and volatility in the market, as investors might be eager to cash out their holdings. This can drive down the price of the token if the selling pressure outweighs the demand.

As a result, investors and traders are keeping a close eye on these seven tokens this week to assess how the unlocks might affect their price movements and the broader crypto market.