According to data from Token Unlock, Galxe is preparing to unlock 4.17 million $GAL tokens, valued at approximately $14.81 million, on August 2, 2024. This unlock represents 3.52% of the total supply. So far, Galxe has unlocked 60.77% of its tokens. Six hours ago, an address identified as 0x195…92A10 deposited […]

Galxe Set To Unlock 4.17M $GAL Tokens As Major Holder Deposits On Bybit

According to data from Token Unlock, Galxe is preparing to unlock 4.17 million $GAL tokens, valued at approximately $14.81 million, on August 2, 2024.

This unlock represents 3.52% of the total supply. So far, Galxe has unlocked 60.77% of its tokens.

Six hours ago, an address identified as 0x19592A10 deposited 1.27 million $GAL into Bybit. These tokens, valued at $3.85 million, were received from the multi-signature address of the Galxe project between May 2022 and August 2023.

Address Received Over 1.86 Million $GAL Token From Galxe Project In The Past 2 Years

Over the past two years, this address has received a total of 1.86 million $GAL tokens from the Galxe project, amounting to $8.46 million. Currently, almost all these tokens have been moved to the exchange.

This significant deposit comes at a time when Galxe is about to unlock a new tranche of tokens, which could impact the market dynamics of $GAL. The large influx of tokens to Bybit suggests potential trading activity that could influence $GALs price and liquidity.

As the unlock date approaches, the market will be closely watching how these newly unlocked tokens affect Galxes overall supply and demand. The substantial transfer by a major holder underscores the potential for increased volatility in the coming days.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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