Developers Start Unlocking Locked Tokens in This Altcoin

Developers recently initiated the unlocking of locked tokens in an altcoin, according to Arkham, a cryptocurrency analysis platform. Space ID, a provider of web3 domains and digital identities, has started the process for its Strategic Selling program. The first unlock occurred today, releasing 26.667 million ID tokens from the Space ID Strategic Sale Unvested contract. This action is valued at approximately $11.92 million. The Strategic Sale round represents 8% of the altcoin’s total token supply, which amounts to 160 million tokens. The sale is structured with a one-year gap followed by a quarterly release over the next three years. Besides domain services, Space ID also offers a web3 name SDK and API service that integrates multiple web3 name services. The current trading price of the ID token is $0.4483, and the unlocking process has not yet resulted in significant selling pressure. Please note that this information is not investment advice.