Yield Guild Games (YGG) is in a persistent bearish trend, with its value decreasing across all time frames.

To date, YGG has lost another 7%. Data from CoinMarketCap shows a sharp decline of 23% in the last week, 47% in the last month, and a whopping 65% in the last 90 days.

Recent on-chain reports highlight significant token movements. A wallet with identification number 0x992, believed to belong to Arca, deposited 9.1 million YGG tokens worth approximately $4.28 million to Binance within the last 24 hours. This is particularly notable because this wallet accumulated these tokens three months ago for $9.7 million. If these tokens are sold at the current price, the loss would be approximately $5.4 million.

YGG token unlocks and price impact

Adding to the market pressure, YGG released $7.5 million worth of tokens on June 27. Another release is scheduled for July 27, which will see more locked tokens released into circulation. This upcoming supply increase could further impact the token's market dynamics.

YGG's total market cap is currently $165 million. The continuous decline and significant token movements indicate a difficult time for YGG, with significant implications for the market and investors.

Taken together, these factors suggest a cautious outlook for YGG in the near term, especially given the upcoming token release. Investors and stakeholders will be closely monitoring the situation to gauge potential market reactions and adjust their strategies accordingly.

Disclosure: This is not trading or investment advice. Always do your research before purchasing any cryptocurrency or investing in any service.

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