In a significant development for the XAI project, an address associated with the project’s owner (0xe4d…c6FeF) transferred 11.01 million XAI tokens to GSR Markets. These tokens, valued at $3.89 million, have now been deposited into Binance. This address had previously received 37.34 million tokens on January 8, 2024, prior to […]

XAI Project Sees Significant Token Movements Amid Unlock Announcement

In a significant development for the XAI project, an address associated with the projects owner (0xe4dc6FeF) transferred 11.01 million XAI tokens to GSR Markets.

These tokens, valued at $3.89 million, have now been deposited into Binance. This address had previously received 37.34 million tokens on January 8, 2024, prior to the tokens official launch. Just 25 hours ago, 14.21 million of these tokens were transferred to three different addresses or entrusted to GSR for sale.

In a recent announcement, XAI revealed that contributors have agreed to relock their July unlock tokens over a six-month period. This decision reduced the number of tokens unlocking in July from approximately 85 million to 17.7 million.

Complete Breakdown Of XAI July Token Unlock 

The breakdown of the July unlock includes:

Investors: ~72.3 million tokens
Team: ~17.7 million tokens
Advisors: ~4.2 million tokens
DAC: ~5.2 million tokens
Xai Foundation: ~8.5 million tokens

In total, approximately 107.9 million tokens are set to unlock in July. However, unlike typical token unlock schedules where large amounts are released at once, XAIs tokens are unlocked daily. This approach applies to all months, not just July, ensuring that there isnt a single day with a massive token release.

This staggered unlocking method is designed to mitigate market impact and promote stability. The recent token movements and the announcement of relocking tokens reflect XAIs strategic efforts to manage supply and maintain investor confidence. As XAI navigates these changes, stakeholders will be watching closely to see how these actions influence the tokens performance and the broader market dynamics.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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