2024-6-4 10:31 |
There are several crypto projects set to release millions of dollars worth of tokens into circulation. As per yesterday’s tweet by Coin Post, the top 10 upcoming token unlocks this month are expected to have a an impact on the market dynamics and price action of the respective cryptocurrencies.
Top 10 Token Unlocks in June Arbitrum (ARB) – $105.21M Aptos (APT) – $103.03M Uniswap (UNI) – $87.93M StarkNet (STRK) – $75.67M dYdX (DYDX) – $66.30M Sei Network (SEI) – $63.81M Space ID (ID) – $55.82M Immutable (IMX) – $54.96M Merlin (MERL) – $42.21M Ethereum Name Service (ENS) – $36.65MThe unlocks span a diverse range of projects, from Layer 2 scaling solutions like Arbitrum and StarkNet to exchanges such as Uniswap and dYdX. Other notable projects include Aptos, a scalable Layer 1 blockchain, and Immutable, a platform for creating and trading NFTs.
Token unlocks can have both positive and negative effects on the market. On one hand, the release of tokens can increase liquidity and trading volume, potentially leading to increased price volatility. This can be particularly true for projects with strong fundamentals and growing adoption, as the increased supply may be met with robust demand.
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Show more +Show less –On the other hand, token unlocks can also create selling pressure, as early investors and project team members may choose to liquidate their newly unlocked tokens. This increased supply can lead to a temporary price decrease, especially if the market sentiment is not strong enough to absorb the additional tokens.
Also read: Top 10 Low Cap Cryptocurrencies with 1000x Potential For 2024
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The post Arbitrum (ARB) And Aptos (APT) Spearhead Top 7 Crypto Token Unlocks In June appeared first on CaptainAltcoin.
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