The price of VELO has fallen by more than 13% over the past week, with traders concerned about potential further declines ahead of the upcoming token unlock.
Current VELO Price Analysis
As of the last check, VELO was priced at $0.013, indicating a 13.4% decrease from the previous week and standing 64% below its year-to-date high.
Token Unlock Details
Data shows that on September 20, 3 billion VELO tokens will be unlocked, accounting for about 17% of the circulating supply and approximately 12.5% of the total supply. Of this amount, 900 million tokens will be allocated to founders, while 2.1 billion will be added to Velo’s development reserve.
Outlook for VELO Post Event
If there isn't sufficient demand for tokens after the unlock, the price could face downward pressure. However, speculation of new developments such as the launch of stablecoins may generate interest and mitigate seller pressure.
In the coming days, market participants will closely monitor sales leading up to the VELO token unlock. If new projects are successfully implemented, they may foster a price recovery.
