Altcoins News: Over $138M Token Unlocks Risks Liquidation Next Week

by

As a seasoned crypto investor with years of experience in the market, I’ve learned that token unlocks can significantly impact altcoin prices. These events, where previously locked tokens are released into the market, can lead to increased supply and potential volatility.

Six Altcoins Set for Market Debut as Token Unlocks App Reveals Massive Token Release: The latest information from the Token Unlocks App indicates that six altcoins are poised to enter the market fray in the upcoming week. This surge is a result of imminent token unlocks, an occurrence where previously restricted tokens are gradually made available for trading.

Significantly, approximately $138.8 million is set to be released from cliffs for the following altcoins: AltLayer (ALT), SafeID (ID), Ethana (ENA), Galxe (GAL), Yield Guild Games (YGG), and Acala (ACA).

In simple terms, this is a concise update on significant events regarding altcoin token releases. These developments could impact the crypto market community.

AltLayer (ALT)

On July 25, a massive release of 684.21 million ALT tokens from AltLayer crypto is scheduled, valued at approximately $111.01 million. This event represents around 42.08% of the current supply, causing significant apprehension among investors regarding potential market consequences.

At present, the value of ALT on the altar of exchanges hovered at $0.1619. This represents a daily surge of 5.29%. The cryptocurrency’s lowest and highest points within the last 24 hours were recorded as $0.1572 and $0.1729, respectively.

Space ID (ID)

On July 22, a total of 18.49 million ID tokens locked with the Space ID will be unlocked, carrying a value of approximately $9.01 million. This represents around 4.29% of the current circulating supply of the coin.

The ID token was traded at a price of $0.4875 today, marking a 5.70% rise from its previous day’s value. Its lowest point in the last 24 hours was $0.4607, while its highest point reached $0.5011.

Ethena (ENA)

On July 21, Ethena is set to release a total of 14.89 million ENA, valued at approximately $7.32 million. This represents around 0.87% of the current supply circulating in the market.

The price of ENA on the market was $0.493 today, marking a 6.97% increase from the previous day’s value. The lowest point in Ethana’s 24-hour range was $0.4699, while its highest point reached $0.5116.

Yield Guild Games (YGG)

On July 27, there will be a release of 14.08 million YGG tokens from The Yield Guild Games crypto, equivalent to $7.56 million. This represents approximately 3.74% of the current circulating supply.

The cost of a YGG token was recorded at $0.5369 today, marking a 2.97% increase compared to the previous day’s price. Over the last 24 hours, the token reached a low of $0.5183 and a high of $0.555.

Galxe (GAL)

On July 24, the altcoin GALX prepares to release a significant amount: one million GAL tokens, valued at approximately $3.6 million. This represents around 0.85% of the current total supply in circulation.

Today, the GAL price remained at $3.58, marking a 5.78% drop compared to the previous day. The price reached a low of $3.54 and a high of $3.92 during this period.

Acala (ACA)

On July 25, a release of approximately 4.66 million ACA tokens, valued at around $340,030, is scheduled for Acala. This represents about 0.46% of the current circulating supply of the coins.

The cost of ACA was $0.07291, marking a 2.53% increase compared to the previous day. Its lowest and highest points during the last 24 hours were $0.07132 and $0.0759, respectively.

As a researcher, I’ve noticed that the mentioned token unlocks have garnered significant attention among market participants. This heightened interest stems from investor apprehensions surrounding the altcoin market, which are largely fueled by concerns over potential supply increases.

Read More

2024-07-20 18:09