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As the bull cycle in the crypto market gains momentum, the Acala network, designed for DeFi, is making a comeback. With initial funding from Ethereum, Compound, Bitcoin.org, and others, Acala is ready to skyrocket in the new crypto bull run.
Acala, a key player in the decentralized finance (DeFi) landscape within the Polkadot ecosystem, has announced a significant move as part of its Acala 2.0 initiative. The protocol is gearing up to burn a substantial number of its tokens, specifically 159,441 ACA tokens, on December 26th.
If you are an avid crypto investor, you will want to mark your calendar for this week. According to Token Unlocks, a slew of tokens, including AGIX, GAL, DYDX, OP, EUL, NYM, 1INCH, HBAR and ACA are set for a massive unlock.
The 1-inch exchange will be the first major protocol to release tokens this week on May 1. However, with only 21,429 tokens issued, there is unlikely to be a significant impact on token prices.
Over the past two years, the parabolic run of cryptocurrencies has resulted in significant awareness of the crypto-verse. Acala is one such cryptocurrency that has captured the attention of investors. It was launched in January of 2022 and is based on the Polkadot blockchain.
