The Sandbox

Immutable

Drops

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/altcoin-prices-face-potential-drops" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoin Prices Face Potential Drops</a><br></p>
<p style="text-align: justify">August marks a period of notable activity in the altcoin market, with various cryptocurrencies scheduled for significant <a href="https://en.bitcoinhaber.net/meme-coins-reach-peak-values-as-market-rallies" data-wpel-link="internal" rel="noopener noreferrer nofollow">token</a> unlocks totaling over $580 million. These substantial token unlocks often lead to an increase in supply, which can result in price declines. Investors should be aware of the major altcoins with planned token unlocks this month and their potential market impacts.</p>
<h2 id="how-will-immutable-imx-be-affected">How Will Immutable (IMX) Be Affected?</h2>
<p style="text-align: justify">Immutable (IMX) is set to unlock 32.47 million IMX tokens on August 9. This amount represents 2.11% of the current supply. IMX’s price has seen a 4.90% drop in the past 24 hours, currently standing at $1.36. The unlock could further influence its market value.</p>
<h2 id="what-is-the-impact-on-xai">What Is the Impact on XAI?</h2>
<p style="text-align: justify">On the same day, XAI will unlock 35.88 million tokens, accounting for 6.91% of its circulating supply. XAI’s price has dropped 3.15% in the last 24 hours to around $0.2938. Such an increase in supply may affect its price trajectory.</p>
<p style="text-align: justify">Aptos (APT) will unlock 11.31 million APT tokens on August 12, which is 2.41% of its circulating supply, valued at $75.21 million. The current price of APT is $6.35.</p>
<p style="text-align: justify">The Sandbox (SAND) is gearing up for a massive token release of 205.59 million SAND tokens on August 12. This represents 9% of its circulating supply and is valued at $66.95 million, with a current trading price of $0.3074.</p>
<h2 id="concrete-implications-for-investors">Concrete Implications for Investors</h2>
<p style="text-align: justify">Investors should consider the following points:</p>
<p>–</p>
<p style="text-align: justify">**Immediate Market Response**: Token unlocks generally increase supply, which can lead to sudden price drops.</p>
<p>–</p>
<p style="text-align: justify">**Long-term Effects**: While price might dip initially, the long-term impact depends on how the newly unlocked tokens are utilized.</p>
<p>–</p>
<p style="text-align: justify">**Investment Strategy**: Consider diversification or defensive positions to mitigate risks associated with these unlock events.</p>
<h2 id="result">Result</h2>
<p style="text-align: justify">The planned token unlocks in August could exert downward pressure on altcoin prices, and <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a> ought to approach these events with caution. Large increases in supply typically lead to price declines, making it essential for market participants to stay informed and strategize accordingly.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/altcoin-prices-face-potential-drops" data-wpel-link="internal" rel="noopener noreferrer nofollow">Altcoin Prices Face Potential Drops</a></h5>

Altcoin Prices Face Potential Drops

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