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<img decoding="async" width="1200" height="900" src="https://coingape.com/wp-content/uploads/2023/11/cryptocurrency-exchange-based-in-Chicago-1-e1707222695214.jpg" class="attachment-full size-full wp-post-image" alt="8 Cryptocurrencies To Avoid Trading This Week As Token Unlocks Loom" style="float:right; margin:0 0 10px 10px;">
<p>The dynamic world of cryptocurrencies braces for yet another paradigm shift in prices of specific tokens as massive token unlocks loom over the horizon.</p>
<p>Token unlocks refers to a phenomenon that ensures the release of previously locked tokens into the market, ramping up the supply. This stages as a potentially bearish event, prompting traders to steer clear of trading certain <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptos</a>.</p>
<p>Over the next week, $182.20 million worth of tokens are set to be unlocked. Here’s a brief overview of eight <a rel="noopener noreferrer nofollow" href="https://token.unlocks.app/" target="_blank">cryptocurrencies</a> poised to take the heat of this event.</p>
<h2 id="arbitrum-arb">Arbitrum (ARB)</h2>
<p>Trading at $0.9227, down 2.99% over the past day, ARB remains at the top of the list, poised to witness token unlocks worth $86.23 million. Data from the Token Unlocks App shows that 96.13 million ARB, equivalent to 3.32% of the circulation supply, will be unlocked on June 16. This has caused speculations over a potential waning price trajectory for ARB ahead.</p>
<h2 id="space-id-id">Space ID (ID)</h2>
<p>Meanwhile, ID traded at $0.5654, down 4.15% over the past day. The crypto stands firm to experience a token unlock of 78.49 million ID, worth $44.37 million, equivalent to 18.23% of the circulating supply on June 22. This significant unlock could trigger a slumping price action for ID ahead.</p>
<h2 id="pixels-pixel">Pixels (PIXEL)</h2>
<p>The PIXEL crypto witnessed a 3.84% plunge to $0.3621 today, readying for a $19.65 million worth of token unlock. Notably, 54.38 million PIXEL, equal to 7.05% of the circulating supply, will be unlocked on June 19.</p>
<h2 id="apecoin-ape">ApeCoin (APE)</h2>
<p>APE traded at $1.05 today, down 2.78% from yesterday. The token prepares for an unlock of $16.35 million worth of coins, equivalent to 2.48% of the circulating supply. A total of 15.60 million APE will be unlocked on June 17, igniting investor concerns about the token’s future price movements.</p>
<h2 id="manta-network-manta">Manta Network (MANTA)</h2>
<p>MANTA traded at $1.27, correcting 8.49% over the past day. The token prepares for a $10.8 million worth of unlock on June 18. Data suggests that 7.87 million MANTA, worth 2.42% of the circulating supply, will be released in the market.</p>
<h2 id="render-rndr">Render (RNDR)</h2>
<p>RNDR experienced a 2.56% fall to $8.05 today. The token readies for a $6.12 million worth of unlock on June 16. 760.57K RNDR coins, equivalent to 0.20% of the circulating supply, will be unlocked on the abovementioned date.</p>
<p><strong>Also Read: <a href="https://coingape.com/news/stocks/bitcoin-price-struggles-at-66k-but-these-4-crypto-stocks-shine/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price Struggles At $66K But These 4 Crypto Stocks Shine</a></strong></p>
<h2 id="nym-coin">NYM Coin</h2>
<p>The NYM cryptocurrency declined 1.58% to trade at $0.1366 today. 2.96 million NYM, worth 0.37% of the circulation supply, will be unlocked on June 17.</p>
<h2 id="euler-eul">Euler (EUL)</h2>
<p>The EUL token prepares for an 88.98K coins unlock, worth $386.16K, on June 19. 0.48% of the circulating supply will be released into the market.</p>
<p>As seen previously, <a href="https://coingape.com/7-altcoins-to-dodge-next-week-trades/" target="_blank" rel="noopener noreferrer nofollow">token unlocks</a> totaling more than 1% of the circulating supply appear to have a significant impact on prices. Crypto market participants continue to eye these tokens for further price action shifts.</p>
<p><strong>Also Read: <a href="https://coingape.com/australia-spot-bitcoin-etf-to-start-trading-on-asx-stock-exchange/" target="_blank" rel="noopener noreferrer nofollow">Australia Spot Bitcoin ETF To Start Trading On ASX Stock Exchange</a></strong></p>
<p>The post <a href="https://coingape.com/8-cryptocurrencies-to-avoid-trading-this-week-as-token-unlocks-loom/" rel="noopener noreferrer nofollow">8 Cryptocurrencies To Avoid Trading This Week As Token Unlocks Loom</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.</p>

8 Cryptocurrencies To Avoid Trading This Week As Token Unlocks Loom

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