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Amid slow accumulation, Hedera gears up to unlock 1.5 billion tokens

Press Releases Crypto News AMB-Crypto Amid slow accumulation, Hedera gears up to unlock 1.5 billion tokens

Hedera will release 1.5 billion HBAR tokens on 1 September.
This would take place as HBAR accumulation stagnates among daily traders.

Decentralized public ledger Hedera [HBAR] will conduct its next token unlocking event on 1 September, according to information retrieved from Token Unlock.

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This event will see the unlocking of 1.5 billion HBAR tokens, which represent 3.48% of the token’s circulating supply. The tokens to be unlocked will be worth around $65 million.

According to Token Unlock, the unlock distribution will include the release of 332.24 million HBAR for network governance & related operations, 416.69 million HBAR for purchase agreements, and 403.53 million HBAR for ecosystem & open-source development.

HBAR has a total supply of 50 billion tokens, with 33.03 million currently circulating. This represents 66% of the token’s total supply. Only 130 million HBAR tokens will remain locked upon completion of the token unlock event.

Primus inter pares?

Despite recent market troubles, HBAR’s price has rallied by 10% in the last month, according to data from CoinMarketCap. At the time of writing, the 30th largest cryptocurrency by market capitalization exchanged hands at $0.05.

While sharing a statistically significant positive correlation with Bitcoin [BTC], whose affairs have been overrun by bears in the last month, HBAR’s Directional Movement Index (DMI) showed that buyers have controlled the market among daily traders since 21 June.

At press time, the positive directional index (green) at 27.51 rested a

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Author: Abiodun Oladokun

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