Here is a brief report on some of the altcoins that are likely to see a major token unlock in the coming week, which is raising concerns among investors.
Notably, $138.8 million worth of cliff unlocks are set to hit certain altcoins in the coming days. These tokens include AltLayer (ALT), Sace ID (ID), Ethena (ENA), Galxe (GAL).
This is a brief report on token unlocking that could serve as important Altcoin news for crypto market participants.
AltLayer (ALT).$ALT
The AltLayer cryptocurrency is expected to see a staggering 684.21 million ALT unlocked, worth $111.01 million, on July 25. This equates to 42.08% of the circulating supply , raising serious concerns among investors about future market impacts.
ALT price was trading at $0.1619 at the time of writing, up 5.29% over the past day. Its 24-hour low and high were $0.1572 and $0.1729, respectively.
Spatial ID (ID)$ID
The Space ID token will see the unlocking of 18.49 million IDs, worth $9.01 million, on July 22. This represents 4.29% of the coin's circulating supply.
ID price was trading at 0.4875 USD, up 5.70% from yesterday. The token's 24-hour low and high are $0.4607 and $0.5011, respectively.
ETH (ENA)$ENA
Ethena is set to unlock 14.89 million ENA, worth $7.32 million, on July 21. This total represents 0.87% of the coin's circulating supply.
ENA price traded at $0.493 today, up 6.97% in the past day. ETH's 24-hour drop and high were recorded at $0.4699 and $0.5116, respectively.
Productive Guild Games (YGG).
Yield Guild Games' cryptocurrency will undergo a 14.08 million YGG unlock, worth $7.56 million, on July 27. This represents 3.74% of the coin's circulating supply.
YGG price traded at $0.5369, up 2.97% in the past day. The token's 24-hour low and high are $0.5183 and $0.555, respectively.
