These cryptocurrencies could face selling pressure according to an analyst: STRK, ENA, OMNI, JUP, ONDO
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Add this to the scheduled unlocks from 2023 and prior, several cliffs are ending this year. Cliff unlocks refer to the release of tokens held in a locked state on a specific date. Several altcoins will see their cliffs ending in 2024, meaning a large supply of these tokens will enter circulation, in a market that is already flooded with consistent liquidity injections.
Prominent assets among the above are JUP, END, ONDO
and W, the top four cryptocurrencies with market value that exceeds $1 billion. Several other assets in the list are Binance Initial Exchange Offering (IEO) tokens.
Market participants need to take a note of these altcoins and watch for increase in circulating supply, rising selling pressure could push prices lower.
