The cryptocurrency market is facing a significant wave of key openings this week. Altcoins worth more than $300 million in total will be unlocked from approximately 30 different projects. This may cause fluctuations in the prices of some altcoins. In this news, we will examine the upcoming unlocks, how they may affect token prices, and what investors should pay attention to.
Those altcoin projects will be unlocked
The cryptocurrency market is facing a significant wave of key openings in the coming weeks. This may cause fluctuations in the prices of some altcoins. Because, as it is known, an increase in the price of tokens in circulation carries the risk of causing a decrease in the price of altcoins. This week’s key developments are as follows:
- March 25: NEAR, H2O Dao, Pintu Token, AltLayer
- March 26: GateToken
- March 27: Dogechain, Keep Network, Flow, Axelar, Yield Guild Games
- March 28: Fetch.ai, Chromia, Maverick Protocol, Radworks, Clearpool, Open Campus, ECOx, Friend3
- March 29: WOO Network, Atlas Navi
- March 30: Mina Protocol, Echelon Prime, Celo, Illuvium, API3, Gamium, Beta Finance
- March 31: Optimism, Vaiot, Step Finance, Nym
Important unlocks:
- March 31: $88.74 million worth of tokens will be unlocked in Optimism. This amounts to 2.40% of Optimism’s market cap.
- March 28: $2.88 million worth of tokens will be unlocked on Friend3. This amounts to 91.15% of Friend3’s market capitalization.
Important information about unlocking
cryptokoin.com As we reported, unlocking is the process of releasing tokens of a cryptocurrency project that are banned from circulation for a certain period of time. This process offers investors the opportunity to sell or stake their tokens. An unlock could result in a drop in token price as it could suddenly introduce a large influx of tokens into the market. In particular, if the amount of tokens unlocked accounts for a significant portion of the average daily volume, a larger impact on price is likely to be seen.
How much the unlock will affect the token price depends on the amount of unlocked tokens, the popularity of the project and market conditions. In some cases, the unlock may be met with investor interest and a price increase may occur. It is important for investors to carefully follow price movements before and after the lock opening and make risk analyzes accordingly. As a result, the cryptocurrency market has a very dynamic structure. Major events such as unlocks can cause market fluctuations. It is important for investors to be prepared for such fluctuations and make conscious investments.
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