Could Sonic’s $74.59M token unlock lead to another 42% price dip?

• Tokens of $ 74.59 million unlocked, which increases the circulation offer by 7.39%.
• Market participants have already begun to sell asset and contributed to its performance pressure.

Main unlocking token for Sound [S] Operated on July 5 – included tokens worth $ 74.59 million into circulation.

According to DefillThis represented 5.17% of the total offer and 7.39% of the circulating delivery.

The sudden float increase has raised concerns about potential supply. If the imbalance, if the proportional demand is not compared, it could cause another disadvantage across the markets with places and derivatives.

This float increase suggests that if the supply outweighs the demand, this could lead to market selection. Ambrpto analysis found that the probability of the same increase in demand remains slim.

Investors defi took the first step

At the time of writing, the selection was already taking place. In particular, investors of decentralized finances (defi) reduced their exposure to the tokens S.

Between the 3rd and 5th July, the Wallets Holders unloaded the tokens with $ 37.9 million. Their cumulative shares fell from $ 836.44 million to $ 798.49 million.

This outflow suggests that investors will unlock with multiple platforms and download their assets, which means the transition from long -term hold to bear, oriented sentiment to sale.

Dominance of dealers are spreading on markets

The metrics on the chain showed that the trend was not isolated. Followed by retail investors.

According to Coinglass“Replace the Netflow data, there has been a significant outflow of assets in the last week, a total of $ 427,000 has moved from private wallets to stock exchanges.

The most important selection occurred in the last 24 hours, during which the spot investors sold a crypto worth approximately $ 110,000, which represents more than 25% of the total outflow of the week.

Liquidation data from Coinelysis He also confirmed the bear sentiment in the markets.

On the market of Perpepetuals, long traders recorded liquidation of 182,800 USD, while shorts lost only $ 8.4.

With you? For every $ 1 shaken from Bearish Traders, Longs Bulls were hit for more than $ 21,000. Such a rush ratio meant that the market was strongly leaning in favor of sellers.

January unlocking the left scar – Will July do the same?

Ambrpto analyzed performance with during its last unlocking of the main token to determine whether a similar formula may occur.

During the unlocking of the event 4th January – when $ 998.72 million entered into circulation – the token experienced a remarkable decline.

From the local maximum 4th January token with the 7th place fell by 13.5%. Until January 20, a cumulative decline recorded 42.75% after the location of the local minimum.

At the time of the press, she created a local maximum with June 25. Although this does not confirm the threatening price drop, break below the support level of $ 0.3022 could signal the formation of a local lower minimum.

Due to the prevailing bear trend and other pressure, which is expected to unlock the token, it is likely to disintegrate and create new low low levels.