Altcoin News: Here's a brief report on some altcoins that stand strong to witness massive token unlocks in the upcoming week, raising investor concerns.
Notably, $138.8 million worth of cliff unlocks are looming to hit certain altcoins in the coming days. These tokens include AltLayer (ALT), Sace ID (ID), Ethena (ENA), Galxe (GAL).
Here's a brief report on the token unlocks that may serve as important Altcoin news for crypto market participants.
AltLayer (ALT).
The AltLayer crypto is set to witness an unlock of a staggering 684.21 million ALT, worth $111.01 million, on July 25. This is equivalent to 42.08% of the circulating supply, raising severe investor concerns over future market implications.
ALT price traded at $0.1619 at press time, up 5.29% over the past day. Its 24- hour lows and tops are $0.1572 and $0.1729, respectively.
Space ID (ID)
The Space ID token will witness an unlock of 18.49 million ID, worth $9.01 million, on July 22. This equals 4.29% of the coin's circulating supply.
ID price traded at $0.4875, an increase of 5.70% from yesterday. The token's 24-hour lows and highs were $0.4607 and $0.5011, respectively.
Ethena (ENA)
Ethena prepares for an unlock of 14.89 million ENA, worth $7.32 million, on July 21. This totals 0.87% of the coin's circulating supply.
ENA price traded at $0.493 today, an upswing of 6.97% over the past day. Ethena's 24-hour slumps and peaks were recorded as $0.4699 and $0.5116, respectively.
Yield Guild Games (YGG).
The Yield Guild Games crypto will experience an unlock of 14.08 million YGG, worth $7.56 million, on July 27. This amounts to 3.74% of the coin's circulating supply.
YGG price traded at $0.5369, up 2.97% over the past day. The token's 24-hour bottoms and tops were $0.5183 and $0.555, respectively.