Brace yourselves, crypto investors! This week is set to witness the unlocking of altcoins with a total value of over $235 million. According to Token Unlocks data, it will witness the entry of Aptos (APT coin), Pendle (PENDLE), Hashflow (HTF), GMX (GMX) and Moonbeam (GLMR) – tokens into the market. This development will potentially affect their prices.
The biggest unlock will happen for APT coin
The most notable unlocking activity revolves around Aptos (APT). A staggering 24.84 million APT tokens, worth approximately $223 million, will enter the market on February 11. This represents a significant 7.34% of the current circulating supply. It also raises concerns about potential price declines due to increased selling pressure. While Aptos attracts attention, other unlocks also attract attention:
13.85 million tokens worth $4.25 million in Hashflow (HTF) will enter the market on February 7. This will represent 4.08% of the circulating supply. Next week, Pendle (PENDLE) will unlock 319,000 tokens worth $993,000, representing 0.33% of the circulating supply. GMX (GMX), on the other hand, will be available starting February 8, with 2,900 GMX tokens worth $123,000 hitting the market for one week. So this represents 0.03% of the circulating supply. Additionally, Moonbeam (GLMR) will unlock 3.04 million GLMR tokens worth $1 million on February 11, representing 0.37% of the circulating supply. Also today, 2.03 million Galxe (GAL) tokens will be unlocked and entered the market. This corresponds to approximately 3.83 million dollars.
What do lock openings mean?
Historically, releasing large amounts of tokens can negatively impact their prices due to increased selling pressure. Investors are often wary of early backers or team members disposing of their tokens. In other words, they are worried that it will cause an abundance of supply. However, the actual impact may vary depending on a variety of factors such as project fundamentals, community sentiment, and market conditions.
If you own any of these tokens, it is very important that you stay informed and do your own research. Consider the potential impact of unlocking on the price and adjust your trading strategy accordingly. Remember that the crypto market is inherently volatile and past performance is not indicative of future results. As a result, a major unlock event took place for several altcoins this week, potentially affecting their prices. While Aptos’ massive unlock raises concerns, other projects have notable releases as well. Investors must be informed, do their own research, and make informed decisions regarding their holdings.
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