Hedera (HBAR) to Conduct Token Unlock Event on 1 September

One sentence summary – Hedera (HBAR) will unlock 1.5 billion tokens worth around $65 million, but recent trends indicate a decrease in accumulation and potential buyer exhaustion, suggesting a possible negative price correction for HBAR.

At a glance

  • Hedera (HBAR) will conduct its next token unlocking event on 1 September.
  • 1.5 billion HBAR tokens will be released during this event, representing approximately 3.48% of the token’s circulating supply.
  • The unlocked tokens will be used for network governance, purchase agreements, and ecosystem development.
  • After the event, only 130 million HBAR tokens will remain locked, with the unlocked tokens estimated to be worth around $65 million.
  • Recent trends indicate a decrease in HBAR accumulation and a potential negative price correction, as suggested by technical indicators such as RSI and MFI.

The details

Hedera (HBAR), a blockchain platform, is set to conduct its next token unlocking event on 1 September.

This event will see the release of 1.5 billion HBAR tokens.

This represents approximately 3.48% of the token’s circulating supply.

The distribution of these unlocked tokens will serve various purposes.

These include network governance, purchase agreements, and ecosystem development.

HBAR has a total supply of 50 billion tokens.

Currently, there are 33.03 million HBAR tokens in circulation.

After the token unlock event, only 130 million HBAR tokens will remain locked.

The unlocked tokens are estimated to be worth around $65 million.

This estimation is based on the current market value of HBAR.

Over the past month, HBAR’s price has seen a notable rally of 10%.

The token has also shown a positive correlation with Bitcoin.

This indicates a potential influence from the broader cryptocurrency market.

According to the Directional Movement Index (DMI), buyers have been in control of the HBAR market since 21 June.

This suggests a prevailing bullish sentiment.

The Awesome Oscillator also indicates ongoing bullish momentum.

This further supports the positive market sentiment.

However, recent data reveals a decline in HBAR accumulation over the past two weeks.

This could indicate a potential shift in market dynamics.

Both the Relative Strength Index (RSI) and Money Flow Index (MFI) have shown a descent since 15 August.

This decline suggests a possible exhaustion among buyers.

It also suggests the likelihood of a negative price correction for HBAR.

In summary, Hedera’s upcoming token unlock event will release 1.5 billion HBAR tokens.

These tokens are valued at approximately $65 million.

While HBAR has experienced a positive price rally and shown correlation with Bitcoin, recent trends indicate a decrease in accumulation.

There is also a potential for buyer exhaustion.

Technical indicators such as RSI and MFI suggest a possible negative price correction.

These factors should be considered by investors and market participants as they evaluate the future trajectory of HBAR.

The information provided is based on multiple sources.

It should be verified for accuracy before publication.

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ambcrypto.com
– Hedera (HBAR) will conduct its next token unlocking event on 1 September.
The event will unlock 1.5 billion HBAR tokens, representing 3.48% of the token’s circulating supply.
The unlocked tokens will be worth around $65 million.
The distribution of the unlocked tokens will include HBAR for network governance, purchase agreements, and ecosystem development.
– HBAR has a total supply of 50 billion tokens, with 33.03 million currently circulating.
– Only 130 million HBAR tokens will remain locked after the token unlock event.
– HBAR’s price has rallied by 10% in the last month.
– HBAR has shown a positive correlation with Bitcoin.
The Directional Movement Index (DMI) indicates that buyers have controlled the market since 21 June.
The Awesome Oscillator suggests ongoing bullish momentum.
– There has been a drop in HBAR accumulation in the past two weeks.
The Relative Strength Index (RSI) and Money Flow Index (MFI) have descended since 15 August.
The decline in these indicators hints at buyers’ exhaustion and a potential negative price correction for HBAR.

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