- This week, hundreds of millions of dollars worth of altcoins will be unlocked, creating a significant shift in the crypto markets.
- According to TokenUnlocks data, the circulating supply of 13 altcoin projects will increase as scheduled this week.
- Notably, Aptos (APT) will lead with the largest token unlock, valued at $95.23 million, representing 2.58% of its total supply.
This article dives into the imminent token unlocks in the altcoin market, examining potential impacts and key details for investors.
Major Token Unlocks: Aptos, Arbitrum, and Starknet
Aptos (APT) will initiate the largest token release by unlocking tokens worth approximately $95.23 million. This represents 2.58% of its total supply, an action that might influence its market position. As reported by CoinGecko, APT began the week with a 2.6% rise.
Following Close Behind: Arbitrum and Starknet
Following Aptos, Arbitrum (ARB) and Starknet (STRK) will unlock $89 million and $72.9 million worth of tokens, respectively. This release translates to 4.92% of STRK’s total supply and 3.3% for ARB, potentially affecting their market dynamics.
Overall Market Impact: $343 Million in Token Unlocks
The cumulative value of the tokens set to be unlocked this week stands at an impressive $343 million. The earliest unlocks will come from Moonbeam (GLMR) and EIGEN projects. Additionally, dYdX (DYDX), Pendle (PENDLE), 1inch (1INCH), Immutable (IMX), CYBER, Render (RNDR), ApeCoin (APE), and Nym (NYM) are also on the schedule this week.
Significant Token Releases
Among these, Immutable (IMX) will see $50.8 million worth of tokens unlocked, while ApeCoin (APE) will release $17.6 million worth, and CYBER will unlock $7.1 million worth. Nym (NYM) will carry out the smallest unlock of the week, releasing tokens valued at $443,000 according to TokenUnlocks data.
Conclusion
This week’s scheduled token unlocks, which amount to $343 million, are set to notably increase the circulating supply of several major altcoins. Investors should monitor these changes closely, as the influx of newly available tokens could impact market prices and trading volumes. Staying informed about these developments is crucial for making strategic investment decisions in the evolving cryptocurrency landscape.
