Altcoins News: Over $138M Token Unlocks Risks Liquidation Next Week
Highlights
- Here's a collection of altcoins poised to witness massive token unlocks in the next week.
- 6 altcoins to mainly witness this event. These include ALT, ID, ENA, YGG, GAL, and ACA.
- Investor concerns rise considerably as supply to witness an increase ahead, risking negative market implications.
Altcoins News: The latest update from the Token Unlocks App reveals that six altcoins are readying to take the heat of increased market supply in the upcoming week. This is attributable to massive token unlocks, a phenomenon wherein previously locked tokens are released periodically into the market.
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), Yield Guild games (YGG) and Acala (ACA).
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.
Also Read: $149 Million of Altcoins Sold By WazirX Hacker to Buy 43,799 Ethereum
Galxe (GAL)
The altcoin Galxe readies for an unlock of 1 million GAL, worth $3.60 million, on July 24. This is equivalent to 0.85% of the circulating supply.
The GAL price rested at $3.58 today, a decline of 5.78% over the past day. Its 24-hour bottoms and highs were $3.54 and $3.92, respectively.
Acala (ACA)
Acala is set to face an unlock of 4.66 million ACA, worth $340.03k, on July 25. This totals 0.46% of the coin’s circulating supply.
ACA price stood at $0.07291, an upsurge of 2.53% from yesterday. The cryptocurrency’s 24-hour bottoms and peaks were $0.07132 and $0.0759, respectively.
Notably, the abovementioned token unlocks remain much eyed by market participants as investor concerns persist over this altcoin news, primarily due to supply increase.
Also Read: SHIB News: Massive 2.7 Tln Accumulation Fuels Hope For Shiba Inu To $0.0000386
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