Massive Unlocking of $235 Million Crypto Assets: Anticipating Market Repercussions
Got some hot crypto action coming up next week! A whopping $235 million worth of digital assets are set to be unleashed into the market between April 21st and 28th. Here's a lowdown on what to expect:
Our beloved crypto enthusiasts at Tokenomist have done their homework, and they're predicting a mix of "cliff" ( sudden) and "linear" ( gradual) unlocks. The big guns include VENOM, ALT, and Solana.
Cliff-Style Unlocks:
VENOM takes the crown with the most significant cliff unlock of the week, dumping around 59.26 million units and $8.25 million worth of VENOM tokens into the market. That's 2.86% of the project's total unlockable supply.
Also joining the cliff party is ALT with approximately 240.1 million units, valued at around $7.09 million. This unlock represents a higher percentage (7.92%) of ALT's unlockable supply compared to VENOM.
Linear Unlocks:
In the steadier, linear release category, Solana is leading the pack with weekly releases of 465,770 units of SOL tokens, equating to a cool $66.03 million. That's just 0.09% of Solana's circulating supply. Worldcoin (WLD) and TRUMP tokens follow closely.
Other tidbits to keep an eye on include TAO, DOGE, Avalanche (AVAX), SUI, Polkadot (DOT), IP, and JTO, although there's no definitive data on their unlocks during this period. However, Solana, VENOM, and ALT seem to be the heavy hitters by value and percentage impact.
Market Impact:
Cliff-style unlocks like those of VENOM and ALT may face immediate sell pressure due to their one-time releases. On the other hand, Solana's gradual unlock could help mitigate short-term volatility.
Fun fact: Despite the upcoming unlocks, ALT and XMW showed bullish momentum, while HOOK gained 7.59% daily! So, keep those coins tight and let's ride the crypto wave together!
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- The highly anticipated crypto action suggests significant releases of digital assets, with VENOM and ALT expected for cliff-style unlocks, while Solana will undergo a gradual linear unlock.
- VENOM tops the cliff unlocks with 59.26 million units and a value of $8.25 million, representing 2.86% of its total unlockable supply.
- ALT, meanwhile, stands out with an approximate 240.1 million unit unlock worth around $7.09 million, constituting a higher percentage (7.92%) of its unlockable supply compared to VENOM.
- Solana, with a weekly release of 465,770 units of SOL tokens valued at $66.03 million, could help mitigate short-term volatility due to its linear unlock.
