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- The cryptocurrency market, after closing last week with losses, will see a significant number of altcoin tokens unlocking in the new week.
- Several altcoins, including Ethereum, Dogecoin, XRP, Solana, led by Bitcoin, have experienced declines in the past seven days.
- However, the new week will see a significant number of tokens unlocking in several altcoins.
Get a detailed overview of the upcoming token unlockings in the crypto market. Understand the potential impact on the market value of various altcoins.
Token Unlocking: What to Expect
Token unlocking refers to the process where tokens that were previously locked are released into the market. This usually happens according to a predetermined schedule set at the time of a project’s launch. The impact on the market value of the altcoin depends on the number of tokens being unlocked and the current market conditions. Here’s a look at some of the altcoins with significant token unlockings in the new week.
Games for a Living (GFAL)
With a market value of 47.10 million dollars, GFAL is set to unlock tokens worth 4.79 million dollars, representing 10.22% of its market value. The unlocking is scheduled for May 13, 2024, at 03:00.
DappRadar (RADAR)
RADAR, with a market value of 7.19 million dollars, will unlock tokens worth 1.49 million dollars, which is 20.73% of its market value. The unlocking is scheduled for May 13, 2024, at 08:00.
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AltLayer (ALT)
ALT, with a market value of 357.06 million dollars, will unlock tokens worth 1.12 million dollars, which is 0.31% of its market value. The unlocking is scheduled for May 13, 2024, at 09:00.
Conclusion
Token unlocking is a significant event for any cryptocurrency. It can lead to increased volatility in the price of the altcoin as more tokens become available in the market. Investors and traders should keep an eye on these events and plan their strategies accordingly.
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