Altcoins To Avoid Trading As $270M Token Unlocks Loom
The post Altcoins To Avoid Trading As $270M Token Unlocks Loom appeared on BitcoinEthereumNews.com. In the coming week, the crypto market will witness a significant token unlock event, with Sui (SUI) being one of the major tokens affected. The next week will see token unlocks worth $270 million. Moreover, other altcoins like Solana (SOL), Worldcoin (WLD), and Zetachain (ZETA) will also be affected. Hence, traders could avoid trading these tokens in the upcoming week to avert some degree of risk. Overview of Upcoming Altcoin Token Unlocks On September 1, 64.19 million SUI tokens will be unlocked, amounting to $51.60 million in value. This release represents 2.47% of the token’s circulating supply. Given the substantial amount of tokens entering the market, SUI could face downward pressure as some investors may choose to sell their holdings. This could potentially lead to a decrease in its market price. On September 6, ImmutableX (IMX) is set to unlock 32.47 million tokens, valued at $47.41 million, according to TokenUnlock. This unlock accounts for 2.06% of IMX’s circulating supply. The influx of these tokens could create volatility in the altcoin market, as the increased supply may not be immediately met with demand. It could potentially cause a short-term price decline. ZETA will also experience a notable token unlock on September 1. The unlock will see 53.89 million tokens being released, worth $26.63 million. This represents a significant 15.71% of its circulating supply. The large proportion of tokens being unlocked could lead to substantial market movements, especially if a significant number of holders decide to liquidate their assets. Taiko (TAIKO) is scheduled to unlock 12 million tokens on September 5, valued at $20.04 million. This release constitutes 19.02% of its circulating supply, making it one of the more impactful token unlocks of the week. The significant increase in supply could potentially destabilize altcoin’s market value, especially if the market is unable…
The post Altcoins To Avoid Trading As $270M Token Unlocks Loom appeared on BitcoinEthereumNews.com.
In the coming week, the crypto market will witness a significant token unlock event, with Sui (SUI) being one of the major tokens affected. The next week will see token unlocks worth $270 million. Moreover, other altcoins like Solana (SOL), Worldcoin (WLD), and Zetachain (ZETA) will also be affected. Hence, traders could avoid trading these tokens in the upcoming week to avert some degree of risk. Overview of Upcoming Altcoin Token Unlocks On September 1, 64.19 million SUI tokens will be unlocked, amounting to $51.60 million in value. This release represents 2.47% of the token’s circulating supply. Given the substantial amount of tokens entering the market, SUI could face downward pressure as some investors may choose to sell their holdings. This could potentially lead to a decrease in its market price. On September 6, ImmutableX (IMX) is set to unlock 32.47 million tokens, valued at $47.41 million, according to TokenUnlock. This unlock accounts for 2.06% of IMX’s circulating supply. The influx of these tokens could create volatility in the altcoin market, as the increased supply may not be immediately met with demand. It could potentially cause a short-term price decline. ZETA will also experience a notable token unlock on September 1. The unlock will see 53.89 million tokens being released, worth $26.63 million. This represents a significant 15.71% of its circulating supply. The large proportion of tokens being unlocked could lead to substantial market movements, especially if a significant number of holders decide to liquidate their assets. Taiko (TAIKO) is scheduled to unlock 12 million tokens on September 5, valued at $20.04 million. This release constitutes 19.02% of its circulating supply, making it one of the more impactful token unlocks of the week. The significant increase in supply could potentially destabilize altcoin’s market value, especially if the market is unable…
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