The cryptocurrency universe prepares for another bearish market wave for certain altcoins, raising investor concerns globally. Recent data from the Token Unlocks app indicated that nearly $300M worth of tokens are set to be released into the market over the coming week. Investors remain apprehensive over 15 coins that are poised to face massive unlocks ahead, which in turn risks future prices. Here’s a brief report on the upcoming unlocks of 15 tokens and their price action today.
15 Altcoins To Face Token Unlock Ahead
According to the data by Token Unlocks, 15 altcoins that are to face a supply increase ahead are Aptos (APT), Arbitrum (ARB), EigenLayer (EIGEN), Axie Infinity (AXS), Starknet (STRK), Taiko (TAIKO), Cardano (ADA), ApeCoin (APE), Echelon Prime (PRIME), Render (RENDER), Ethena (ENA), CYBER, Astar (ASTR), Nym (NYM), and Forta (FORT).
Token unlocks refer to a phenomenon wherein previously locked tokens are periodically released into the market, impacting supply. This phenomenon raises investor concerns as prices take a hit, abiding by the law of supply and demand. Let’s delve deeper into the upcoming unlocks.
Aptos
Aptos is set to witness an unlock of 11.31 million APT, worth $93.65 million, on October 11. This unlock equals over 2% of the altcoin’s circulating supply. Meanwhile, APT price traded at $8.25, down nearly 0.5% over the past day. Its intraday low and high were $7.88 and $8.34, respectively.
Arbitrum
Arbitrum is poised to face an unlock of 96 million ARB, worth $51.06 million, as of October 16. The unlock totals 2.65% of the coin’s circulating supply. ARB price today traded at $0.5319, up nearly 1% in the past 24 hours. The coin’s intraday low and high were $0.507 and $0.5346, respectively.
EigenLayer
EigenLayer readies for an unlock of 11.22 million EIGEN, worth $42.07 million, on October 15. This unlock is equivalent to a whopping 6% of the crypto’s circulating supply. EIGEN price traded at $3.75 today, up nearly 0.5% in the past 24 hours. The coin’s intraday low and high were recorded as $3.58 and $3.90, respectively.
Axie Infinity
Axie Infinity prepares to face an unlock of 9.25 million AXS, worth $41.92 million, as of October 14. The unlock remarks to a whopping 6.08% of the altcoin’s circulating supply. AXS price soared nearly 1.5% in the past 24 hours and is currently trading at $4.54. The coin’s 24-hour low and peak were $4.33 and $4.53, respectively.
Starknet
Starnet stands primed to witness an unlock of 64 million STRK, worth $25.32 million, as of October 15. The unlock mirrors 3.30% of the coin’s total circulating supply. STRK price traded at $0.3967 today, noting gains worth roughly 5% in the past 24 hours. Its intraday low and high were $0.372 and $0.3971, respectively.
Taiko
Taiko readies for an unlock of 12 million TAIKO, worth $18.84 million, as of October 14. The unlock is equal to 16% of the coin’s circulating supply. Besides, TAIKO price traded at $1.56, noting a 0.4% decline in the past 24 hours. Its 24-hour low and high were recorded as $1.51 and $1.57, respectively.
Cardano
Cardano stands strong to face an unlock of 37.06 million ADA, worth $12.83 million, as of October 12. The unlock stands equal to 0.10% of the altcoin’s circulating supply. ADA price pumped nearly 3% in the past 24 hours and is now sitting at $0.3455. Its intraday low and high were $0.3321 and $0.347, respectively.
ApeCoin
ApeCoin is to face an unlock of 15.60 million APE, worth $11.02 million, as of October 17. The unlock weighs equivalent to 2.31% of the coin’s circulating supply. APE price jumped over 1% in the past 24 hours to reach $0.7069. The coin’s intraday low and high were $0.6746 and $0.7093, respectively.
Echelon Prime
Echelon Prime prepares for an unlock of 750K PRIME, worth $5.85 million, as of October 17. This unlock evaluates to 1.5% of the coin’s total circulating supply. PRIME price dropped nearly 2.5% over the past day to reach $7.81. The coin’s intraday low and high were $7.70 and $8.12, respectively.
Ethena
Ethena readies to face an unlock of 12.86 million ENA, worth $3.61 million, as of October 16. The unlock totals 0.47% of the altcoin’s circulating supply. ENA price pumped over 4% in the past 24 hours to $0.2809. Its intraday low and high were $0.2571 and $0.2836, respectively.
Render Network
Render stands primed to experience an unlock of 492.13K RENDER, worth $2.61 million, as of October 14. This unlock is equivalent to 0.13% of the coin’s circulating supply. RENDER price surged over 4% in the past 24 hours to $5.31. The coin’s 24-hour low and high were $4.91 and $5.33.
CYBER
CYBER is to witness an unlock of 886.12K coins, worth $2.57 million, as of October 14. The unlock stands equal to 3.81% of the altcoin’s circulating supply. CYBER price jumped nearly 2% in the past 24 hours to $2.90. The coin’s intraday low and high were $2.76 and $2.98, respectively.
Astar
The crypto Astar will witness an unlock of 9.72 million ASTR, worth $567K, as of October 17. The unlock totals 0.13% of the coin’s circulating supply. Further, ASTR price gained roughly 0.5% over the past day to reach $0.05834. Its intraday low and high were $0.05619 and $0.05862, respectively.
Nym
Nym is to face an unlock of 2.73 million coins, worth $200.76K, on October 15. This unlock is worth 0.34% of the coin’s circulating supply. NYM price today traded at $0.07356, down 3.5% in the past 24 hours. The coin’s intraday low and high were $0.07354 and $0.07635, respectively.
Forta
Lastly, Forta readies for an unlock of 2.66 million FORT, worth $296K, as of October 13. The unlock totals 0.56% of the coin’s circulating supply. FORT price dipped over 1% in the past 24 hours and is currently trading at $0.1113. Its 24-hour low and high were $0.1079 and $0.112, respectively.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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