CELO is gearing up for a significant token unlock, and the market isn’t exactly thrilled. Over the past 24 hours, it has dropped 7.28%, now trading at $0.3632. With 851.87K CELO tokens worth about $307.43K set to be unlocked on March 30, investors are keeping a close watch.
The unlocked tokens make up just 0.15% of the circulating supply. So far:
- 364.02 million (36.40%) remains locked.
- 562.53 million (56.25%) is already unlocked.
- 73.46 million (7.35%) is untracked.
When tokens flood the market, prices often dip—and traders seem to be bracing for impact. CELO’s trading volume has fallen 4.91% to $14.53 million, suggesting that investors are hesitant ahead of the unlock.
Celo Price Chart
With 36.40% of its total supply still locked and 7.35% untracked, the real question is: What happens next? If a large portion of the unlocked tokens gets dumped, the token could face further downside.
With just over a day until the unlock, the next 24 hours will be crucial. Can the market handle the extra supply, or is a bigger drop coming? Stay tuned
Also Read: Trader Loses Nearly $1M Trying to Exploit Hyperliquid with JELLY Memecoin – Here’s What Happened
