- This week, significant token unlocks worth tens of millions of dollars will occur across nine altcoin projects.
- From September 16 to September 22, notable cryptocurrencies such as ApeCoin (APE), Worldcoin (WLD), and SuperRare (RARE) are set to release tokens into circulation.
- The unlocking of these tokens generally leads to a noticeable negative impact on the price due to an increase in circulating supply.
This article provides insights into the upcoming token unlocks for nine major altcoin projects, totaling over $285 million in value.
Key Token Unlocks to Watch This Week
During the week of September 16-22, several significant token unlocks are scheduled that could impact the market. Among them, the unlock events for Avalanche (AVAX), SpaceID (ID), Pixels (PIXEL), and The Graph (GRT) are particularly noteworthy due to the substantial amounts involved.
Avalanche (AVAX) and SpaceID (ID) Leading the Pack
Avalanche (AVAX) is set to release tokens valued at $227 million, equating to 9.5 million tokens. This represents 1.33% of its circulating supply. Similarly, SpaceID (ID) will see a $26 million token release, amounting to a 3.94% increase in supply. These figures are significant and could potentially influence the market prices of these assets.
Breakdown of Other Notable Unlocks
ApeCoin (APE) will release 15 million tokens worth approximately $11 million on September 16th at 05:00 UTC, contributing to a 1.9% increase in its circulating supply. On the same day, Worldcoin (WLD) will unlock 3 million tokens worth $4 million by 08:00 UTC, although this only represents a 0.04% increase in supply.
Other Altcoins to Monitor
VELO is planning a token unlock worth $2 million, which will see the release of 179 million tokens across the week starting September 16th at 12:00 UTC, adding 3.95% to its circulating supply. The Graph (GRT) will release 99 million tokens worth $12 million on September 16th at 15:00 UTC, which is 0.89% of its current supply. SuperRare (RARE) will unlock 13 million tokens (worth $2 million) on September 17th at 11:00 UTC, increasing its supply by 0.89% as well.
Conclusion
This week will be pivotal for various altcoin projects as they undergo significant token unlocks. Investors should closely monitor these events, particularly for AVAX and ID, due to their potentially considerable market impacts. Overall, understanding these token unlocks can offer strategic advantages for market participants looking to navigate the volatile crypto landscape.
