While the cryptocurrency market is experiencing an extremely bearish scenario where the price of Bitcoin dropped below $60,000, a series of token unlocks is planned for this week.
These token unlocks could potentially affect the prices of the tokens associated with these projects. Analyst Coin Post has shared the list of top 7 token unlocks for this week.
Top 7 Token Unlocks to Watch
Investors should keep a close eye on the following token unlocks scheduled for this week:
- Optimism (OP): $54.85 million worth of tokens to be unlocked
- Altlayer (ALT): $17.35 million in tokens set for release
- GateToken (GT): $15.13 million worth of tokens scheduled for unlock
- Axelar (AXL): $14.19 million in tokens to enter circulation
- Port Finance (PORT): $13.75 million worth of tokens to be unlocked
- Worldcoin (WLD): $8.79 million in tokens set for release
- Fetch.ai (FET): $7.39 million worth of tokens scheduled for unlock
Milei Moneda is a new meme coin inspired by the political and economic views of Javier Milei, an Argentine president known for his libertarian and pro-Bitcoin stance. You have an opportunity with the ongoing low presale price to get in early!
Sponsored
Show more +These unlocks represent a combined total of over $131 million worth of tokens potentially entering the market, which could lead to increased selling pressure and price volatility for the affected cryptocurrencies.
Token unlocks are a critical aspect of cryptocurrency tokenomics, often implemented as part of a project’s vesting schedule to gradually release tokens to team members, investors, or for ecosystem development. While unlocks can sometimes lead to short-term price pressure, they are also seen as a natural part of a project’s maturation and can signify the progression of its roadmap.
Read more: PEPE Coin Shows Resilience Amid Bitcoin’s Downturn, Analysts Remain Bullish on the Meme Coin
Large unlocks, such as the $54.85 million worth of Optimism (OP) tokens, may have a more pronounced effect on market dynamics compared to smaller unlocks. However, the actual impact can vary depending on market conditions, project fundamentals, and overall investor sentiment at the time of the unlock.
Captain just hit his first 100x among a lot 2-5xs. Want to be a part of a profitable community?
Get all our future calls by joining our FREE Telegram group.
Check $RECQ Meme Coin
ICO stage, offering tokens at a discounted price
Facilitates a smooth and efficient economy within the arcade, supporting both arcade and in-game transactions.
Grants access to a diverse range of gaming experiences in the Rebel Satoshi Arcade,
Contributes to a decentralized, community-driven RebelSatoshi platform that integrates gaming with elements of revolution, freedom, and unity, appealing to users who value such principles.