- Token unlock events are creating significant buzz in the cryptocurrency market this week.
- Investors are on high alert as $177 million worth of tokens are set to be released.
- These unlocks could lead to increased volatility and potential downward pressure on prices.
Stay informed on looming token unlocks affecting major cryptocurrencies, potentially shaking up the market dynamics.
Upcoming Token Unlocks Pose Significant Market Risks
This week, the Token Unlocks App has highlighted substantial upcoming token releases that could stir considerable market turbulence. Specifically, $177 million worth of tokens from six different cryptocurrencies are set for release, potentially creating bearish conditions due to increased supply.
Aptos (APT) Faces Key Token Unlock
On July 12, Aptos (APT) is scheduled to release 11.31 million tokens, equating to 2.49% of its circulating supply, valued at approximately $63.33 million. The APT price currently stands at $5.59, reflecting a 4.02% increase over the past day. As the unlock date approaches, the market will closely watch Aptos for potential price fluctuations.
Xai (XAI) Prepares for Significant Unlock Event
Xai (XAI) will witness the release of 198.40 million tokens on July 9, representing 71.59% of its circulating supply and worth $56.55 million. Currently trading at $0.2835, down 0.83%, XAI’s pending token unlock is expected to significantly impact its market dynamics.
Immutable (IMX) to Release Tens of Millions of Tokens
Immutable (IMX) is set to unlock 32.47 million tokens on July 12, which constitutes 2.15% of its circulating supply and is valued at $40.59 million. IMX is trading at $1.26, marking a 4.33% increase. This upcoming unlock could lead to increased volatility for IMX in the near term.
io.net (IO) Scheduled Token Unlock
io.net (IO) will experience the release of 2.87 million tokens on July 11, equivalent to 3.02% of its circulating supply, worth $5.98 million. With its current trading price at $2.08, the market will closely monitor IO’s performance during this unlock period.
Hashflow (HFT) Anticipates Token Release
Hashflow (HFT) is preparing for a token unlock on July 7, releasing 13.85 million tokens, which accounts for 3.28% of its circulating supply, valued at $2.41 million. HFT is currently priced at $0.1742, reflecting an 11.38% increase. The market will watch Hashflow closely for potential price impacts.
Ethena (ENA) Token Unlock
On July 7, Ethena (ENA) will unlock 14.89 million tokens, representing 0.87% of its circulating supply. Although a smaller percentage, this unlock could still introduce slight price volatility for ENA.
Conclusion
As major token unlock events loom, investors should brace for increased market volatility. The influx of new tokens could lead to bearish conditions, compelling traders to stay vigilant and possibly reconsider trading these specific cryptocurrencies in the coming week.
