GEL Token Price Expected To Plunge As $12.79M Tokens Unlocked Tomorrow

• Gelato’s GEL tokens are set to unlock 44,172,450 GEL worth around $12.79 million on February 28th, accounting for 1.05% of the total supply.
• Gelato Network is a decentralized infrastructure provider for Ethereum smart contracts.
• The upcoming unlock into circulation may impact the market, so investors should monitor developments closely and adjust their strategies accordingly.

Gelato’s GEL tokens are unlocking 44,172,450 GEL on Feb 28th, worth $12.79 Million and accounting for 1.05% of the total supply. GEL has various uses, including paying transaction fees, staking for governance, and accessing automated smart contract services.

According to Token Unlocks data, Gelato’s GEL tokens are set to unlock 44,172,450 GEL on February 28th. This will be worth approximately $12.79 million, accounting for 1.05% of the total supply of 420 million.

The upcoming unlock of GEL tokens into circulation will likely have an impact on the market. Investors may want to monitor these developments closely and adjust their investment strategies accordingly. It remains to be seen how this influx of tokens will affect the value of GEL.

Gelato Network is a decentralized infrastructure provider that allows developers to build and automate smart contracts on Ethereum. Gelato’s GEL is the native token of the Gelato Network and is used for various purposes within the Gelato ecosystem.

One of the primary use cases of the GEL is for paying transaction fees on the Gelato Network. By using GEL tokens to pay for transaction fees, users can save on gas costs and take advantage of discounted fees. Additionally, the GEL token can be staked to participate in network governance and earn rewards.

Another use case for the GEL token is for accessing Gelato’s automated smart contract services. Developers can use GEL tokens to pay for Gelato’s automated services, which can help simplify and automate complex smart contract functions, such as executing trades or transferring tokens.

At the time of writing, GEL is trading at $0.2992, up nearly 5% over the last 24 hours.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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