Crypto NewsAltcoinDevelopers Start Unlocking Locked Tokens in This Altcoin

Developers Start Unlocking Locked Tokens in This Altcoin

According to onchain data provided by Arkham, developers in this altcoin have started releasing locked tokens.

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Cryptocurrency analysis platform Arkham announced that Space ID, a provider of web3 domains and digital identities, has begun unlocking tokens for its Strategic Selling program.

The first unlock took place today at 05:13 UTC+3, and the multi-signature contract (0x54…497d) released 26.667 million ID tokens from the Space ID Strategic Sale Unvested contract. This release is estimated to be worth around $11.92 million.

This Strategic Sale round represents 8% of the total token supply of 160 million. The sale is structured with a 1-year gap followed by a quarterly release for the next 3 years.

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Space ID offers domain registrations, sales and management services for a variety of web3 top-level domains including .eth, .bnb and .arb.

In addition to domain services, Space ID also provides a web3 name SDK and API service that integrates multiple web3 name services.

At the time of writing this article, the ID token is trading at $0.4483 and it is observed that the unlocking process has not created much selling pressure so far.

*This is not investment advice.

Buradaki Yorumlardan Bildirim Al

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