Some observers have long argued that the impact of unlocks accentuate the prevailing market trend. “Large unlocks of tokens are a complex event that interface with market psychology. Simply put, large unlocks can be bullish catalysts in bulls, and bearish catalysts in bears. They unlock liquidity to continue the prevailing trend,” Chris Burniske, co-founder of New York-based crypto-focused venture firm Placeholder tweeted in April 2021, explaining the bullish reactions to token unlocks that took place in early 2021.
