Next week, the cryptocurrency market is poised for notable fluctuations as approximately $81 million worth of token unlocks are expected to take place, affecting 18 altcoins. According to data from Tokenomist.AI, the influx of 19 tokens may lead to significant supply increases and raises concerns about potential price instability among traders.
Which Tokens Are Involved?
The list of impacted altcoins includes Metars Genesis (MRS), Sodius AI Tech (AITECH), Space ID (ID), Tribal Token (TRIBL), Cardano (ADA), Karrat (KARRAT), Ethena (ENA), EigenLayer (EIGEN), Hatom (HTM), GT Protocol (GTAI), Coin98 (C98), Hooked Protocol (HOOKED), Venom (VENOM), GameSwift (GSWIFT), Vulcan Forged (PYR), Acala (ACA), Moca Coin (MOCA), and KonnektVPN (KPN). The increase in their supply could trigger heightened selling pressure, evidenced by recent price swings such as a 1% rise in Metars Genesis contrasted with a 5% drop in Tribal Token.
Will Supply Increase Meet Demand?
Traders are left wondering if the boost in supply will align with demand once the tokens are unlocked, a factor that could be pivotal in determining coin values. Increased volatility is anticipated, prompting traders to adopt risk management strategies through diversification of their holdings.
- Upcoming token unlocks total $81 million.
- Nineteen altcoins are set to experience significant supply increases.
- Price volatility is expected, causing traders to reassess their strategies.
The forthcoming token unlocks present a critical moment for the crypto market, spotlighting the importance of vigilance among traders as they navigate potential price shifts. Close monitoring of market reactions will be essential in this rapidly changing environment.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Source: https://en.bitcoinhaber.net/token-unlocks-impact-altcoin-market-prices