Echelon Prime (PRIME) up 78% since last token unlock: can it hit $34?

Echelon Prime (PRIME), the utility token powering Echelon’s gaming and artificial intelligence-focused ecosystem, has demonstrated remarkable resilience in the face of recent market turbulence.

Following its most recent token unlock on February 29, $PRIME has surged by an impressive 78%, sparking speculation among investors about its next potential milestone: reaching $34.

Echelon Prime shows strong momentum post-unlock

Since the token unlock event on February 29, where 1.66 million PRIME tokens were released into circulation, Echelon Prime’s impressive momentum caught investors by surprise since most anticipated potential sell-offs post-unlock.

Immediately after the last token unlock, PRIME found immediate support at $20.5, indicating strong investor confidence in the project’s long-term prospects.

The token’s ability to hold firm amidst market volatility has bolstered optimism among investors, fueling speculation about its future price trajectory.

Anticipation builds as next PRIME token unlock approaches

With the next token unlock scheduled for March 30 and March 31, where an additional 1.66 million PRIME tokens are set to enter circulation, anticipation is mounting within the crypto community.

Analysts predict that this upcoming unlock event could further propel PRIME’s price upwards, potentially setting the stage for a breakthrough past the $28 resistance level and towards the coveted $34 target.

Following the March 31 unlock, a series of subsequent unlock events are slated to occur monthly, with varying quantities of PRIME tokens being released each time.

These unlocks, spread across the months of March, April, May, June, July and beyond, contribute to the gradual distribution of PRIME tokens according to predetermined vesting schedules.

According to the scheduled PRIME token unlocks:

• 910,249 PRIME (0.82% of Total Supply) – approximately $23.60 million is scheduled for unlocking on March 30, 2024, and 751,904 PRIME (0.68% of Total Supply) – approximately $19.50 million will be unlocked on March 31, 2024.
• 1.66 million PRIME (1.50% of Total Supply) – approximately $43.10 million – will be unlocked on April 30, 2024.
• 910,249 PRIME (0.82% of Total Supply) – approximately $23.60 million – will be unlocked on May 30, 2024.
• 751,904 PRIME (0.68% of Total Supply) – approximately $19.50 million – will be unlocked on May 31, 2024.
• 1.66 million PRIME (1.50% of Total Supply) – approximately $43.10 million – will be unlocked on Jun 30, 2024.
• 910,249 PRIME (0.82% of Total Supply) – approximately $23.60 million – will be unlocked on Jul 30, 2024, and another 751,904 PRIME (0.68% of Total Supply) – approximately $19.50 million – will be unlocked on Jul 31, 2024.
• 910,249 PRIME (0.82% of Total Supply) – approximately $23.60 million – will be unlocked on Aug 30, 2024 and another 751,904 PRIME (0.68% of Total Supply) – approximately $19.50 million – shall be unlocked on Aug 31, 2024.

The consistent release of tokens through the vesting schedule is being closely monitored by investors, with each unlock event serving as a milestone for the project’s progress.

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