The cryptocurrency market is preparing for another dynamic shift in the prices of certain altcoins with massive token expansions on the horizon. Token expansions mean the release of previously locked tokens. This situation disrupts the supply-demand balance, potentially causing a decline for altcoins. As supply increases in the market, large expansions may become a bear market harbinger for some altcoins. Here is a quick look at some cryptocurrencies such as APT coin, which are expected to be under the influence of these expansions next week…
The new week is critical for APT coin and other cryptos
According to data obtained from the Token Unlocks application, seven “top openings” will occur in the next seven days and will supply a total of $ 237.46 million worth of cryptocurrencies to the market. The altcoins that will be most affected by these expansions are as follows:
- Aptos (APT): Aptos (APT) will launch on June 12 with 11.31 million APT tokens valued at $96.36 million. This amount corresponds to 2.58% of the APT supply in circulation. APT price is currently down 8% from the previous day to $8.39. As supply increases with these expansions, the APT price may see a further decline.
- Starknet (STRK): Starknet (STRK) is facing the launch of 64 million STRK tokens on June 15, worth $76.16 million. This amount corresponds to 4.92% of the total circulating supply. Meanwhile, STRK price is down 11.21% today to $1.17, making it less than attractive to trade this week.
- Immutable (IMX): Immutable (IMX) will experience a token expansion on June 14, with 25.53 million units worth 53.36 million dollars. This amount corresponds to 1.72% of IMX’s circulating supply. IMX price decreased by 7.83% compared to the previous day, falling to $2.05. An increase in supply could push the price down even further.
- CYBER: CYBER will launch 886.12 thousand tokens, worth $7.47 million, on June 14. This amount is equal to 3.96% of the cryptocurrency’s circulating supply. CYBER price also decreased by 7.04% in the last 24 hours to $ 8.45.
Although not like those on the other list, dYdX (DYDX), Moonbeam (GLMR) and 1inch (1INCH) will also experience expansions next week. Although the impact of these expansions is relatively less, the prices of all altcoins have experienced a decline in recent days, reflecting the general cryptocurrency market movements.
What to do?
Experts recommend that investors be cautious and follow market movements closely in this uncertain period. Staying away from altcoins that will be directly affected by token expansions may be a safer choice for this week.
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