Status of the Cryptocurrency Cardano: 18 Million ADA Unlocked!

Journalist

• More than 18 million ADA tokens are set to be unlocked this month.
• A similar unlock occurred in September, yet ADA still experienced positive price movement.

Cardano [ADA] is gearing up for a significant release of ADA tokens into circulation, coinciding with the seventh anniversary of the network’s consistent operation.

As the market reacts to this news, ADA has exhibited signs of potential recovery after concluding the last quarter with a notable decline.

Cardano unlocking over 18 million ADA tokens

According to Token Unlocks, Cardano is scheduled to unlock 18.53 million ADA tokens on October 2, equating to 0.5% of the total supply of ADA. The value associated with this unlock is anticipated to be approximately $7.37 million.

This milestone coincides with the Cardano network’s celebration of seven years without interruption and its approach towards reaching 100 million transactions.

Recently, Cardano executed a hard fork aimed at bolstering its expanding ecosystem and specifically facilitating Decentralized Autonomous Organizations (DAOs). p > The released tokens will be allocated for staking, treasury management and reserve funding purposes. This follows a precedent set by another unlock in September that released an additional 0.5% from the overall supply. span > p >

Recent market behavior of Cardano b > h2 > Following a downturn at quarter-end where AskFX reported a decline from $0.39 down to $0.37—approximately by 6%. Nevertheless , despite this decrease predominantly resulted in staying above its short-term moving average around $0 .35, tracing an upward trend across shorter timeframes. `”-‘
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