Institutional-Grade Analysis, In-depth Insights, Animoca Brands Research

Animoca Brands Research

Institutional-Grade Analysis, In-depth Insights

Animoca Brands Corporation Ltd. is a Hong Kong-based game software company and venture capital company

Crypto

<ul><li>Large unlocks (over 1% of circulating supply) significantly impact prices, mainly concentrated in the week before and after the unlock. A 1% token unlock triggers, on average, a 0.3% price drop over the week preceding the unlock and another 0.3% drop over the week following the unlock.</li><li>The strongest price effects occur two days before the unlock and on the third and fourth days after the unlock. Interestingly, the actual unlock day and the day after show little price impact.</li><li>The similar magnitude of price drops before and after the unlock suggests that market anticipation is just as influential as the actual selling pressure.</li></ul>

Large unlocks (over 1% of circulating supply) significantly impact prices, mainly concentrated in the week before and after the unlock. A 1% token unlock triggers, on average, a 0.3% price drop over the week preceding the unlock and another 0.3% drop over the week following the unlock.The strongest price effects occur two days before the unlock and on the third and fourth days after the unlock. Interestingly, the actual unlock day and the day after show little price impact.The similar magnitude of price drops before and after the unlock suggests that market anticipation is just as influential as the actual selling pressure.

The Impact of Token Unlock Events on Cryptocurrency Prices: An Empirical Analysis

Crypto Research and Data, Delphi Digital

Delphi Digital

Crypto Research and Data

Institutional-Grade Crypto Research & Data

Delphi Digital seeks to produce unbiased, actionable content for our clients on critical themes affecting digital assets and distributed ledger technology. Our team is committed to providing investors and institutions with key insights through a diverse suite of products including individual project analysis, bespoke research, and tailored consulting services.

<ul>
<li>Traditional equities confer specific rights to their holders, such as voting power and dividends. Tokens offer distinct advantages, including implementation versatility, composability—especially within DeFi—and other functionalities unattainable with securities.</li>
<li>The innovative designs of tokens play a pivotal role; they not only channel value back to the token holders but also exert a direct impact on the token’s market value.</li>
<li>In this report, we explore four value accrual mechanisms implemented by tokens. These include: (i) Buyback and Burn; (ii) Real Yield; (iii) Tax-Tokens; and (iv) Book Value Tokens</li>
</ul>


Traditional equities confer specific rights to their holders, such as voting power and dividends. Tokens offer distinct advantages, including implementation versatility, composability—especially within DeFi—and other functionalities unattainable with securities.
The innovative designs of tokens play a pivotal role; they not only channel value back to the token holders but also exert a direct impact on the token’s market value.
In this report, we explore four value accrual mechanisms implemented by tokens. These include: (i) Buyback and Burn; (ii) Real Yield; (iii) Tax-Tokens; and (iv) Book Value Tokens


More Than Just Governance: Unpacking Value Accrual Mechanisms in Crypto

CEO, ByteTree Asset Management

ByteTree Asset Management

Specialising in Bitcoin, Gold and Digital Assets

Investment Manager specialising in bitcoin, gold and digital assets

Cross Asset Strategy

<ul><li>Injective is the first decentralised exchange-focused layer-1 blockchain platform.</li><li>Integrated with the Cosmos ecosystem, it was custom-built to host Decentralised Exchanges (DEXs) that aim to shape the future of crypto trading.</li><li>The platform offers developers a user-friendly environment equipped with plug-and-play financial infrastructure components, facilitating the seamless creation of highly efficient, fast, and cost-effective dApps.</li></ul>

Injective is the first decentralised exchange-focused layer-1 blockchain platform.Integrated with the Cosmos ecosystem, it was custom-built to host Decentralised Exchanges (DEXs) that aim to shape the future of crypto trading.The platform offers developers a user-friendly environment equipped with plug-and-play financial infrastructure components, facilitating the seamless creation of highly efficient, fast, and cost-effective dApps.

Injective Protocol: Unlocking the Potential of Decentralised Trading

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Injective Protocol (INJ CURNCY)

The Impact of Token Unlock Events on Cryptocurrency Prices: An Empirical Analysis

Large unlocks (over 1% of circulating supply) significantly impact prices, mainly concentrated in the week before and after the unlock. A 1% token...

Animoca Brands Research

More Than Just Governance: Unpacking Value Accrual Mechanisms in Crypto

Tokens offer distinct advantages over traditional equities, with versatile implementation and unique functionalities unattainable with securities....

Delphi Digital

Injective Protocol: Unlocking the Potential of Decentralised Trading

Injective is the first decentralised exchange-focused layer-1 blockchain platform. Integrated with the Cosmos ecosystem, it was custom-built to...

ByteTree Asset Management

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

The Impact of Token Unlock Events on Cryptocurrency Prices: An Empirical Analysis

Large unlocks (over 1% of circulating supply) significantly impact prices, mainly concentrated in the week before and after the unlock. A 1% token...

Animoca Brands Research

More Than Just Governance: Unpacking Value Accrual Mechanisms in Crypto

​Tokens offer distinct advantages over traditional equities, with versatile implementation and unique functionalities unattainable with securities....

Delphi Digital

Injective Protocol: Unlocking the Potential of Decentralised Trading

Injective is the first decentralised exchange-focused layer-1 blockchain platform. Integrated with the Cosmos ecosystem, it was custom-built to...

ByteTree Asset Management

Tokens offer distinct advantages over traditional equities, with versatile implementation and unique functionalities unattainable with securities....