Plasma (XPL) Price Crashes Due to Token Unlock Schedule

The Plasma (XPL) cryptocurrency has been experiencing a decline in price this week due to several factors, despite recent bullish news from the project. One major reason behind the crash is the token unlock schedule, which has increased the circulating supply of XPL. This has led to selling pressure from early investors who are cashing out their tokens.

According to Tokenomist data, another batch of vested tokens was unlocked recently, adding more liquidity to the market. However, this increase in supply may not be immediately absorbed by the market, leading to further price drops.

The Plasma project has a token release calendar, which shows that most of its new circulating supply will come from future unlocks. Traders are closely monitoring these events and trading patterns around unlock dates to determine if the selling pressure is subsiding.