The MELANIA meme token is set for a significant unlock, with the release of coins valued at $39 million.
The MELANIA token, associated with First Lady Melania Trump, has recently drawn attention in the market. While the team behind the project insists it is not politically motivated, the upcoming token unlock has still captured the focus of market observers.
Melania Token Unlock Schedule
According to blockchain analysis firm EmberCN, MELANIA’s team tokens will begin unlocking between February 19 and 20. The first release consists of 3% of the total supply, equating to 30 million tokens valued at $39 million. The unlock schedule indicates a 30-day initial lock-up and gradual release.
After the first release, the project will unlock 2.25% of the total supply monthly over the next 12 months. This structure means that 30% of the total tokens will be unlocked within a 13-month period.
Market participants are closely monitoring how these scheduled unlocks might impact liquidity and trading activity.
Per EmberCN, the unlock date is February 19 when measured in 30-day intervals, but it falls on February 20 if considered a full month.
Libra’s Connection to MELANIA
Meanwhile, blockchain analysts have revealed connections between the controversial Libra token and several cryptocurrency projects, including MELANIA. These findings have prompted further scrutiny into the relationships between various entities involved in the ecosystem.
Julian Peh, CEO of Libra-linked KIP, addressed these concerns by clarifying that KIP did not play a deep role in the token’s launch. However, he acknowledged that Kelsier, identified as the market maker for MELANIA, was responsible for the project.
Notably, this scrutiny comes amid the LIBRA token’s pump-and-dump price action over the weekend following Argentina’s president’s initial endorsement, which he has backtracked.
As scrutiny intensified, KIP addressed the growing uncertainty surrounding the project. The company acknowledged the surge in fear, uncertainty, and doubt (FUD), including direct threats toward its staff. However, KIP reiterated that its involvement in LIBRA was limited to listing the token on its website and expressing confidence in the project’s potential.
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