The post Crypto Token Unlocks This Week: What $489 Million Could Mean for Prices appeared first on Coinpedia Fintech News
This week, the crypto market will experience key token unlocks, which could have significant impacts on token prices due to changes in supply dynamics. Here’s a breakdown of what you need to know.
Tokens with Large Unlocks This Week
The following tokens are scheduled for major unlocks: MRS, ROSE, ADA, PIXEL, ID, ENA, and KARRAT. These single large-amount unlocks are expected to impact market prices, with increased supply possibly putting downward pressure on prices in the short term.
Recent Price Movements:
Metars Genesis: +12.3%
Oasis: +3.0%
Cardano (ADA): +29.1%
Karrat: +3.0%
Pixels: -0.2%
Space ID: -1.9%
Athena: -4.4%
Tokens in the Linear Unlock Category
Several prominent tokens are also in the linear unlock category, where tokens are gradually released over time. These include SOL, WLD, TIA, TAO, AVAX, DOGE, SEI, NEAR, DOT, FIL, and ARKM.
Recent Price Movements:
Solana (SOL): +15.8%
Worldcoin (WLD): +4.9%
Avalanche (AVAX): +13.1%
Dogecoin (DOGE): +29.4%
Sei (SEI): +8.8%
NEAR Protocol (NEAR): +13.3%
Polkadot (DOT): +14.2%
Filecoin (FIL): +7.8%
Arkham (ARKM): -11.5%
Celestia: -5.9%
Bittensor: -15.5%
Impact of $489 Million in Token Unlocks on the Market
The total value of token unlocks this week exceeds $489 million, with approximately $79.69 million in single cliff unlocks and $409.95 million in linear unlocks. This increase in supply could drive selling pressure, potentially affecting prices in the short term.
Key Tokens to Watch: Solana, Dogecoin, and Avalanche
Solana (SOL), Dogecoin (DOGE), and Avalanche (AVAX) are among the key tokens to monitor due to their significant upcoming unlocks. These events may cause noticeable price fluctuations, and both retail and institutional investors will likely track them for potential trading opportunities.
Solana (SOL):
Total Supply: 588,572,278
Circulating Supply: 474,594,467 (80.6%)
Non-Circulating Supply: 113,977,811 (19.4%)
Current Price: $245.78 (+3.1% in the last 24 hours)
Also Read : Top Altcoins to Watch: Which Coins Will Breakout This Month? ,
Conclusion: Prepare for Price Volatility
The unlock events worth $489 million could introduce price volatility to the crypto market. Investors should stay vigilant, especially with tokens like Solana, Dogecoin, and Avalanche, which are likely to experience significant price movements. Be prepared for potential market shifts as these unlock events unfold.