🚨3 cryptocurrencies to avoid amid $130 million in token unlocks 🚨
This week, three major cryptocurrencies are set to unlock over $130 million in tokens, potentially flooding the market and causing increased selling pressure and significant price fluctuations. Stay informed and manage your risk! 🛡️
🔓 **Optimism (OP)** will unlock $55.16 million worth of tokens on June 30, adding nearly 3% supply inflation. Core contributors and private investors are set to receive substantial amounts, likely leading to a sell-off. 📉
🔓 **Sui Network (SUI)** is unlocking $54.6 million worth of tokens on July 1, with private investors receiving over 60% of the total. This monthly supply inflation (2.7%) could result in further price drops. 📉
🔓 **io.net (IO)** will release $27.23 million in tokens with an 8% supply inflation. Increased supply may lead to heightened volatility and potential price declines. 📉
Additionally, Ripple will unlock 1 billion XRP worth $470 million on July 1, as it does monthly.
👉 **Key Takeaway**: Exercise caution and consider reducing exposure to these cryptocurrencies due to potential sell-offs and market volatility. Proper risk management is crucial in these uncertain times.
Remember, this isn't financial advice, just a heads-up to keep you informed! 📊💡