These Are the 6 Altcoins to Unlock This Week! – Cryptokoin.com

This week, the unlock process will begin on many altcoin projects. Token unlocks are important events that have the power to influence the market. Most tokens are seeing buying pressure build up towards significant planned unlocks followed by a price correction. In most cases, this price correction is short-lived, sometimes turning into slow and steady growth for the token. Therefore, it is important when the tokens will be unlocked. In this article, we will share the unlock events that will take place this week. Here are the details…

Which altcoin projects are unlocking tokens this week?

According to Token Unlocks data, the following tokens will be unlocked this week (March 13 – March 19):

  • 14 March 2023, At 18:00 CEST 6,520,128 DYDX (approximately $14.34 million worth) will be unlocked. This amount accounts for 0.7 percent of the supply.
  • March 15, 2023, At 03:00 CET 187.5 million BIT (approximately $94.68 million) will be unlocked. This amount accounts for 1.9 percent of the total supply.
  • March 15, 2023, At 04:18 ET, 107,723 EUL (approximately $647,000) will be unlocked. This accounts for 0.396 percent of the total supply. It is worth noting that this coin faced a $190 million hack attack today.
  • 16 March 2023, 192,307 GAL (approximately $296,000) will be unlocked at 15:00 CET. This accounts for 0.096 percent of the total supply.
  • 17 March 2023, At 03:00 CEST, 40,601,326 APE (approximately $179 million) will be unlocked, accounting for 4.06 percent of the total supply.
  • Finally, again 17 March 2023, At 03:00 CEST, Stargate Finance (STG) will unlock $379,000 in STG.

Why are token unlocks important?

Projects that distribute a large portion of the tokens to private investors and internal teams are those that have seen their prices drop after major unlocks. Since most unlocks are transparent to the public, the market usually expects a large drop and tries to outdo the downward price action. Some locks also come at an unfortunate time for a token and its holders. For example, STEPN’s GMT reward distribution came after the protocol’s heyday and cryptocoin.com coincided with a wider drop caused by FTX, as we reported.

There’s also the timing factor. The earlier the unlocking occurs in a project’s life, the greater the impact on the token price. Large-volume, highly liquid projects like Polygon are generally unaffected by unlocks as their large networks quickly absorb any price fluctuations. For most tokens, unlocks provide more liquidity and create a more stable price environment. In the months following unlock, most tokens stabilize their price with substantial gains.

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