The continuously developing world of cryptocurrency is preparing for another major change. A large-scale token unlock is imminent, which could impact market dynamics. This event involves previously locked tokens being released periodically into the market, typically causing price fluctuations. Over the next week, four cryptocurrencies will be ready to handle the potential impact of increased market supply.
Next week, these projects will unlock tokens worth over $420,000. Among the more well-known projects are AltLayer (ALT), Yield Guild Games (YGG), Ena (ENA), and SingularityNET (AGIX).
AltLayer (ALT)
On May 21st, AltLayer (ALT) will unlock 2.003 billion ALT tokens, worth $69,200. This unlock accounts for 1% of AltLayer’s total supply, indicating that the price may decrease due to the increased supply.
Price at the time of writing: $0.191
24-hour change: -3.97%
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Yield Guild Games (YGG)
On June 27th, YGG will unlock 106,700 tokens, worth $44,800. This unlock represents 1% of the circulating total supply, posing a risk to the price.
Price at the time of writing: $0.6511
24-hour change: -0.64%
Ena (ENA)
On June 23rd, Ena (ENA) will unlock 88,800 tokens, worth $8,700, accounting for 1% of the circulating supply.
Price at the time of writing: $0.6006
24-hour change: -2.10%
Read more:
Potential altcoin candidates for airdrops and Binance listings
SingularityNET (AGIX)
AGIX is set to merge with OCEAN and FET and will unlock 280,000 tokens worth $6,700 on August 5th. This quantity represents 1% of the circulating supply.
Price at the time of writing: $0.6343
24-hour change: -3.79%
The upcoming token unlocks are a critical period for the affected cryptocurrencies. While increased supply may lead to price decreases, the long-term impact will depend on market demand and overall sentiment.
