3 Cryptocurrencies To Avoid Trading This Week👇
🔺Avoid Trading dYdX (DYDX) Amid Massive Unlock
🔺Optimism (OP) Token Unlock
🔺Echelon Prime (PRIME)
1. Avoid Trading dYdX (DYDX) Amid Massive Unlock
First, dYdX (DYDX) amounts to nearly 45% of the total unlocked tokens next week, and speculators should avoid trading it.
The decentralized exchange protocol will release 33.34 million DYDX on February 29, worth $130 million by press time.
Private investors will receive the most of it, 18.49 million tokens worth $72.10 million, which suggests profit realization.
Further, the team will receive the remaining 14.85 million, which may also go through a sell-off.
2. Optimism (OP) Token Unlock
Second, crypto investors should avoid trading Optimism (OP) as next week’s second-largest unlock.
The layer-2 protocol for Ethereum (ETH) will release 24.16 million OP earlier on February 29, worth $86.73 million.
Interestingly, the distribution will be similar for the team (‘Core Contributors’) and private investors.
The former will receive 12.75 million OP, while the latter will receive 11.41 million tokens.
3. Echelon Prime (PRIME)
Finally, Echelon Prime (PRIME) will unlock $20.44 million worth of 1.66 million PRIME a day before the other two, on February 28.
912,040 PRIME will go to the Parallel Studios reserve and 750,000 to its private investors.
Thus, the Web3 gaming studio native token is another cryptocurrency to avoid trading next week for investment protection.
#Note - However, these cryptocurrencies can still perform well in the following days despite the expected sell-offs.
The cryptocurrency market is highly volatile and unpredictable, meaning everything can happen in the short term.
