In the ever-evolving environment of the cryptocurrency market, this week marked a notable uptrend for the sector. Investors are optimistic about the potential for continued growth next week; however, attention is turning to certain cryptocurrencies that may face selling pressure due to major altcoin unlocks. Here are the details…
At the beginning of the week, many altcoins will be unlocked
Starting with Near (NEAR), the scheduled token unlock amount at 03:00 on December 4, 2023 is $15.60 million, accounting for 0.77% of the market cap, which is currently $2.03 billion. Mines of Dalarnia (DAR) follows at 09:00 on the same day with a token unlock amount of $1.19 million, representing 2.33% of the $50.83 million market cap. SEDA Protocol (FLX) will unlock $1.28 million worth of tokens at 03:00 on December 5, 2023, accounting for 6.09% of the $21.00 million market cap. Later in the day, at 08:00 EST, Galxe (GAL) will unlock $3.30 million worth of tokens, accounting for 2.23% of the $147.88 million market cap. Also on December 5, Liquity (LQTY) will unlock 675,000 coins
Myria (MYRIA) unlocks $7.52 million worth of tokens, representing 8.58% of the $88.49 million market cap at 03:00 UTC as we head towards December 7, 2023. The same day sees multiple token unlocks: WiFi Map (WIFI) at $1.79 million (35.47% of the $5.05 million market cap) at 03:00, Minima (MINIMA) at 03:00 at $4.43 million (market cap not available) and Hashflow (HFT) at $4.62 million (5.46% of $82.73 million market cap) at 1 p.m. Additionally, 129,000 Euler will enter the market on December 7. KAP Games (KAP) bursts onto the scene at 03:00 on December 8, 2023, unlocking a significant token worth $11.78 million, which is 97.09% of the market cap of $12.14 million. On the same day, 403 thousand GMX will also be unlocked
The middle of the week is also critical
The unlock trend continued at 07:00 STEPN (GMT) on December 9, 2023, unlocking $24.78 million (6.34% of the $391.60 million market cap). December 10, 2023 stands out as an important date when multiple tokens are unlocked. aelf (ELF) experienced a significant unlock of $169.41 million, accounting for 44.85% of its market cap of $365.79 million. Other notable unlocks include Sipher (SIPHER) at $3.67 million (17.03% of $21.50 million market cap) at 03:00, and $173.71 million (610) at 12:00 Cheelee (CHEEL) at $.53 million (28.45% of market cap) and ChainGPT (CGPT) at $6.55 million (15.17% of $43.12 million market cap) at 18:00 It is located.
Each of the unlocked altcoins brings its own unique dynamics to the market. As investors enter this period of intense activity, it is advisable to monitor these unlock events carefully as they have the potential to create significant volatility, influencing both short- and long-term market trends. As always, thorough research and risk management are crucial to navigating the unpredictable cryptocurrency landscape.
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