The post Crypto Bull Run : How This Week’s $750M Token Unlocks Affect Altcoin season appeared first on Coinpedia Fintech News
The altcoin industry has signaled a major bull rally in the near term after consolidating in the past eight months. The overall trading volume in the altcoin industry has significantly surged in the past few weeks, as whale investors turned their attention from Bitcoin (BTC) to large-cap altcoins led by Ripple Labs XRP, Solana (SOL), Cardano (ADA) and Dogecoin (DOGE), among others.
However, some crypto experts have cautioned traders to only trade altcoins with solid fundamentals in the upcoming altseason to avoid getting rugged or holding non-performing coins. Furthermore, the high existence of crypto projects has diluted the entire industry compared to the 2021 and 2017 bull market cycles.
Key Altcoin Unlocks to Consider this Week
According to market data from tokenomist, several altcoin projects will cliff-unlock a total of $750.63 million in the next seven days. In this category, Cheelee (CHEEL), a BNB Chain-based SocialFi that has a fully diluted valuation of about $9.5 billion, will cliff-unlock about 20.8 million tokens, worth over $234 million on December 13, 2024.
The other major cliff-unlock for this week is from the Aptos (APT) network involving 2.11 percent of the total supply, or about 11.3 million tokens worth around $158 million, on December 11. The Connex (CONX) project will also cliff-unlock 4.3 million tokens, worth about $141 million, which represents 376 percent of the circulating supply on December 15.
Other notable cliff-unlocks this week include Starknet (STRK) with $47 million, Cardano (ADA) with $43 million, Sei (SEI) with $36 million and Polyhedra network (ZKJ) with $30 million.
As for the total linear release today, Worldcoin (WLD) has the highest with $19.36 million per day, followed by Solana (SOL) with $17.39 million per day.
Market Impact
Crypto projects with the highest dilution in the next few days will likely face more bearish sentiments. Furthermore, the emergence of FOMO crypto traders is focused on performing altcoins with robust fundamentals including deflationary aspects.
Consequently, it is prudent for crypto traders to keep a watch on the top altcoins with the highest in clocks in the coming days.