As the new week begins, the crypto market is buzzing with anticipation due to the upcoming token unlocks for 19 altcoins. These events have the potential to cause sudden price movements, so investors are advised to stay prepared. Historically, token unlocks often lead to increased volatility in the market, making this a critical period for market watchers.
Which Altcoins Are Unlocking Tokens?
The first significant altcoin unlocking tokens this week is Worldcoin (WLD). With a market cap of $1.54 billion, WLD will unlock tokens worth $716.23 million, which accounts for 0.74% of its total market cap. This event is set to take place on September 23, 2024. Additionally, FIDA (Solana Name Service) will also see an important unlock, releasing tokens worth $5.33 million, which makes up 13.16% of its $40.51 million market cap. FIDA’s unlock will also occur on September 23, 2024.
Warning for These Altcoins: Token Unlocks Approaching!
Other notable token unlocks this week include Moonwell (WELL), which holds a market cap of $82.09 million. On September 23, WELL will unlock tokens worth $1.13 million, accounting for 1.38% of its market value. Additionally, Gala (GALA) will unlock a significant amount of tokens on September 24, 2024. With a market cap of $1.16 billion, GALA will release tokens valued at $60 million, representing 5.17% of its market capitalization.
More Altcoins to Watch Closely
Another token unlock to monitor is from Acala (ACA), which has a market cap of $105.92 million. ACA will unlock tokens worth $4.52 million, representing 4.27% of its market value. Besides these, other altcoins set for major unlocks this week include Axie Infinity (AXS), dYdX (DYDX), Immutable (IMX), The Sandbox (SAND), Sweatcoin (SWEAT), Aptos (APT), Optimism (OP), Sui (SUI), LooksRare (LOOKS), BitDAO (BIT), Aave (AAVE), Injective (INJ), Celo (CELO), and Helium (HNT).
These token unlocks could lead to rapid price changes, making it crucial for investors to stay vigilant. As reported by The Bit Journal, token unlock events have historically caused significant price swings in the market. Investors should be prepared for potential volatility and make informed decisions by closely monitoring these developments.
