The drop in the altcoin, which emerged as a launchpool project of Binance, the world’s largest cryptocurrency exchange, while the market is on the rise, has attracted attention.
According to the sharing made by On-chain analysis account Spot On Chain on March 21, the price of Space ID (ID) decreased by 27% in the 24 hours prior to the unlocking of $125 million.
According to Token Unlocks data, the circulation supply of Space ID, which corresponds to 18%, will be unlocked at $125 million, with 78.43 million tokens, around 05.00 AM GMT. The drop before this unlocking, which is a considerable amount of 20%, stands out.
While Bitcoin and cryptocurrencies have been experiencing an increase in the last 2 days, ID, which was at the level of $1.7, fell to $1.25 with a 27% decrease.
Last days, the wallet associated with the SpaceID team and the market maker Amber Group deposited a total of 18.3 million IDs worth $28.5 million to Binance. Spot on chain stated that this could be part of the unlocking process.
