After a week in which Bitcoin approached its all-time high of $69,000, the cryptocurrency market is preparing for a massive token unlock for numerous altcoins next week. This creates excitement and curiosity among investors.
Which altcoin projects will be unlocked?
In the period from March 4 to March 10, Near, WazirX, Rally, AltLayer, Mines of Dalarnia, Sei, SEDA Protocol, Galxe, Work X, Talken, Myria, WiFi Map, Hashflow, KAP Games, GMT, Cetus Lock openings will take place in many altcoins such as Protocol, Cheelee and ChainGPT.
Unlocking means unlocking tokens that will enter circulation on a predetermined date. This could lead to an increase in the supply of tokens in circulation, putting downward pressure on the price. However, not every unlocking leads to a price drop. Factors such as the token’s usage situation, investor interest, and general market trends may also affect the price.
What should investors pay attention to?
It is important for investors who want to invest before the unlocking to pay attention to the following points:
- Use case and future potential of the token: It is important that the project behind the token is solid and that the token has a real use.
- The amount of tokens that will be in circulation after the unlock: How much of the total supply does this amount represent?
- General market trends: If the market is generally in an uptrend, the negative impact of the lock opening may be less.
most important
Lock openings are always a major event in the cryptocurrency market. Investors should conduct detailed research and make conscious investments before such events.
Some important unlocks are as follows:
- Cheelee (CHEEL): $421.86 million worth of tokens will be unlocked on March 10. This amounts to 43.53% of the circulating supply. This unlock is one of the unlocks that is expected to have the biggest impact on the market.
- GMT (GMT): $27.81 million worth of tokens will be unlocked on March 9. This amounts to 5.00% of the circulating supply. GMT is a metaverse project that has become very popular lately.
- Near (NEAR): $1.10 million worth of tokens will be unlocked on March 4. This amounts to 0.02% of the circulating supply. Near is a Layer 1 project that has attracted investor attention recently.
Investors should carefully follow the impact of these key expansions on the market and make their investment decisions accordingly.
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