Wu Blockchain reports that, according to TokenUnlocks, there will be significant token unlockings in the coming week.
The process includes single large-amount unlockings (over $5 million) including tokens like SUI, IMX, ZETA, TAIKO, and DYDX.
There will also be linear large-amount unlockings (over $1 million) that will involve SOL, WLD, DOT, NEAR, and SEI.
Overall, the total value of these unlockings is projected to exceed $270 million.
According to TokenUnlocks, the single large-amount unlocking (more than $5m) in the next 7 days includes SUI IMX ZETA TAIKO DYDX MODE, etc., and the linear large-amount unlocking (more than $1m) in the next 7 days includes SOL WLD DOT NEAR SEI, etc. The total unlocking value… pic.twitter.com/06vcVN5obA
— Wu Blockchain (@WuBlockchain) August 31, 2024
Token unlocks can benefit a crypto ecosystem and also affect its overall performance. The process can inject liquidity into the market and serve as an incentive for early investors and contributors.
Successful unlocks could signify project maturity and stability, potentially attracting new investors. The released tokens can also help fund ongoing development activities, marketing, and partnerships.
However, this process also has some disadvantages. The influx of tokens can lead to price volatility; the price could drop sharply or increase very rapidly.
Read Also: Here Are Major Events in September That Might Affect Bitcoin and Crypto Prices
Next Meme Coin to Explode? Look No Further If You Are Looking for the Next PEPE or POPCAT
Meet PandaWorld, the new meme coin currently selling at discounted presale prices! The project was inspired by the adventures of six panda siblings, utilizing their unique abilities to bring together gaming, staking, and other features.
Show more +Show less –
Additionally, some large holders might dump their unlocked tokens, which could impact price action. Retail investors may also withdraw their funds, and when many people do this, it will affect the value of the token.
It is advised that those holding tokens involved in upcoming unlocks conduct research to understand the purpose of the unlocks and how they could affect the market conditions of the affected tokens. This could help them make informed decisions.
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.
We recommend eToro
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more Visit eToro Now Active user community and social features like news feeds, chats for specific coins available for trading. Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs. Copy trading: allows users to copy the trades of leading traders, for free. User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
The post Major Token Unlocks for Next Week Include SUI, IMX, DYDX, and These Top Altcoins appeared first on CaptainAltcoin.
