$83m in Crypto Market Liquidity Unlock
• This week the crypto market saw an injection of liquidity of $83.38 million, divided among projects such as SUI, OP, YGG, AGIX, ACA, GAL and 1INCH.
• The largest portion of this liquidity was distributed to SUI with 11.6% ($44.4 million) followed by OP with 3.8% ($31.9 million).
• Other projects also received a smaller amount with YGG receiving 3.9% ($2.8 million), AGIX 0.8% ($2.4 million), ACA 4.3% ($1.2 million) and GAL 1.3% ($0.7 million).
Overview
This past week saw a substantial injection of over $83 million worth of liquidity into the cryptocurrency market from various projects such as SUI, OP, YGG, AGIX, ACA, GAL and 1INCH unlocking their respective tokens to contribute to the total supply of tokens in circulation within the market..
SUI
SUI is a layer 1 blockchain smart contract system that contributed the largest portion with 11.6%, equivalent to $44.4 million worth of tokens being unlocked this past week into the market supply of tokens available for purchase and trading on exchanges or other platforms that accept cryptocurrencies as payment or investments..
OP
OP is a layer 2 blockchain based on Ethereum and came in second after SUI having released 3.8%, equaling $31 .9million worth of tokens into circulation this past week for investors and traders alike..
YGG
YGG is a decentralized autonomous organization primarily focused on Metaverse NFTs which unlocked 3 .9 % or $ 2 . 8 m worth of its total supply during this same period..
ACA & GAL
ACA’s contribution was 4 .3 % making it equal to $1 . 2 m as it was released onto Polkadot as a DeFi network while GAL’s contribution was much lesser at 1 .3 % adding up to only $ 0 . 7 m for its data network powered by web 3 .. Lastly , the 1INCH Network donated 20 , 600 USDT which is roughly equivalent to 0 . 01 %of its circulating amount ..