- Major token unlocks add liquidity pressure but short-term momentum stays bullish
- Arbitrum, Aptos, and Sei sustain gains despite large insider token release events
- Smaller Starknet and io.net unlocks trigger sharp upward intraday price reactions
Over $120 million worth of new tokens from projects like Arbitrum, Aptos, and Sei are hitting the market this week. But in a surprising show of strength, the prices of the affected altcoins are mostly shrugging off the new supply and rallying higher.
Arbitrum (ARB): Shrugging Off a $38 Million Unlock
Arbitrum saw $38.63 million in tokens unlocked, representing 1.80% of its circulating supply. Despite the significant unlock, ARB’s price remained resilient, climbing to $0.4207, up 3.23% on the day.
The chart structure showed a bounce from a strong support near $0.4080, followed by higher highs. Current resistance is seen at $0.4300–$0.4320. A breakout above this level could fuel further gains, especially with volume up over 70%. However, a close below $0.4080 could signal a short-term trend shift.
Aptos (APT) and Sei (SEI) Also Show Strength
Aptos unlocked $30.31 million, just over 1% of its supply, yet surged nearly 6% to $4.59. After opening at $4.34, it spiked to $4.72, showing strong buyer interest.
Support is forming around $4.50, with the next key resistance at $4.74. Sustained momentum above this could trigger a further rally.
A recurring theme. Token unlocks are a constant factor in the market. Here’s our analysis of what happened during token unlocks a few weeks back.
Similarly, Sei, which released $17.07 million in tokens, remained stable around $0.3056, showing mild gains.
Price action has been range-bound but slightly tilted upward. A breakout above $0.315 may signal a continuation of the uptrend, while a fall below $0.300 could reverse the outlook.
Starknet (STRK) and io.net (IO) Follow the Trend
Starknet and io.net had smaller unlocks $16.05M and $6.08M respectively but both tokens reacted with strong upward price action.
STRK rose nearly 3% to $0.1266, reclaiming short-term support near $0.1255. If it breaks $0.1290, the price may aim for $0.132 and beyond.
Meanwhile, IO unlocked $6.08 million, and the token surged almost 4% to $0.6067, riding a strong intraday rally after bottoming at $0.572. A sustained move above $0.630 could trigger a push toward $0.65. Failure to hold $0.600 may lead to a pullback to earlier lows.
What else is moving? Arbitrum isn’t the only altcoin on the move. Here’s CoinEdition’s list of altcoins to watch as Ethereum price races to $4000.
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Source: https://coinedition.com/weekly-token-unlocks-altcoins-arb-apt-sei-prices-rally/