5 popular altcoins that will be unlocked next week.
Cryptocurrency markets appear to be declining after the rise on the first day of the week, giving back half of their gains. While cryptocurrencies generally continue their downward trend on the last business day of the week, the reported lock openings have the potential to put additional pressure on the relevant altcoins. According to Token Unlocks' report, a total of $376.27 million worth of crypto assets are planned to be unlocked in the coming week.
Among the major altcoins whose supply will increase with the lock opening between May 27 and June 2, #Optimism (OP), Sui (SUI), #Ethena (ENA), #1inchCard (1INCH), dYdX (DYDX) are at the top. According to the report, OP tokens worth $82.12 million, representing 2.88% of the circulating supply on the Optimism network, will be released on May 31. It is expected that this activity may increase the volatility of the altcoin due to the high amount of OP to be unlocked.
On June 1, $70.35 million worth of #SUI will be released, accounting for 2.78% of the circulating supply. Additionally, 11.91% of DYDX's circulating supply and $47.97 million worth of ENA tokens will be unlocked on the same date. Effect of lock openings on altcoin prices While altcoin investors have been closely monitoring the tokens to be unlocked recently, the prevailing idea is that these activities, which will increase the supply of the relevant crypto asset, may put pressure on the price of the asset. Both the expectation of a sale and the situation of buyers selling these assets can sometimes negatively affect the price of the unlocked altcoin. $OP $1INCH $SUI
