Cryptocurrency holders beware! These Altcoins May Collapse - Altcoin Buzz
The first on today's list is #Sui , a Tier 1 #blockchain focused on scalability and developer-friendly applications Sui already unlocked on January 1. However, it's very large and could go down hard, which is what we'll talk about today: on January 1, $64.19 million Sui tokens were issued.
That's about 2.13% of the total volume in circulation, worth $267.05 million. The distribution is as follows: Initial investors: $1034MLN $SUI ($BTC Series B investors: $19.32 million ($80.38 million);
Series A investors: $19.84 million MLN; sui ($8.253 million);
Public Reserve: $12.63 #MLN USD.
Mysten Labs Treasury: $2.07 million SUI ($8.61 million).
SUI tokens worth $336M will be unlocked on January 1 at 12:00 GMT.
Impact: The unlocking will add approximately 2.81% to the market capitalization.
$SUI prices have fallen more than 8% in the last week, but have shown signs of recovery, rising 8% in the last 24 hours. SUI tokens have stabilized. The market is expected to remain stable, with more than 20% growth expected in the next few weeks. Moreover, the market continues to grow, easily absorbing the same number of monthly unlocks throughout 2024.
followed by Movement, a blockchain network based on Move that takes advantage of Move's advantages over other programming languages. On January 9, 2025, Movement will unlock $50 million worth of MOVE tokens, representing 2.22% of the total volume in circulation and yielding $45 million in value.
This week, $EIGEN, $ENA and several crypto projects including $MOVE, $OP, $APT, $IO and $AXS unlocked tokens.
All funds are dedicated to community and ecosystem development, demonstrating a focus on growth and collaboration. Over the past 30 days, $MOVE has risen 30% while it has fallen 15% in the past week.
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