Token

Immutable

Hashflow

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/investors-should-skip-these-cryptocurrencies" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Should Skip These Cryptocurrencies</a><br></p>
<p style="text-align: justify">The cryptocurrency market is currently in a sluggish phase, with most altcoins showing little to no movement. The market response to the July personal consumption expenditures (PCE) <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">data</a> was minimal, despite the inflation rate continuing to slow down as per the Federal Reserve’s 2% target. This scenario hints at potential <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">interest rate</a> cuts in September, but cryptocurrencies remain stagnant.</p>
<h2 id="cryptocurrencies-to-avoid">Cryptocurrencies to Avoid</h2>
<p style="text-align: justify">Despite the possibility of interest rate cuts, it’s crucial for investors to avoid certain cryptocurrencies due to potential volatility. <a href="https://en.bitcoinhaber.net/bitcoins-market-dynamics-analyzing-recent-price-fluctuations-and-address-consolidation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) is still consolidating below the $60,000 resistance level, and while this might seem like an investment opportunity, some cryptocurrencies should be approached with caution. One such example is Immutable (IMX).</p>
<p style="text-align: justify">Immutable (IMX) has shown some recent resilience, gaining about 8% over the past month despite market fluctuations. However, a token unlock scheduled for September 6, 2024, will introduce 32.47 million IMX into the market. This constitutes 2.06% of its market value, approximately $47.23 million. Although technical indicators suggest bullish signals for IMX, the sudden increase in supply might lead to volatility.</p>
<h2 id="what-about-hft-and-sui">What about HFT and SUI?</h2>
<p style="text-align: justify">Hashflow (HFT) is in a similar predicament with a token unlock set for September 7, 2024. This will release 15.83 million HFT tokens, amounting to 4.33% of the market value, worth around $2.27 million. Historically, significant token unlocks lead to increased selling pressure. At present, Hashflow trades at $0.14, having declined over 23% in the past month.</p>
<p style="text-align: justify">Sui (SUI) also faces a token unlock on September 3, 2024, which will release 83.88 million SUI into the market. This release represents 3.23% of its market value and is valued at approximately $67.97 million. Currently, SUI is trading at $0.81.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Investors should consider the following key points:</p>
<p style="text-align: justify">– **Immutable (IMX):** Token unlock on September 6, 2024, releasing 32.47 million IMX valued at $47.23 million.<br> – **Hashflow (HFT):** Token unlock on September 7, 2024, releasing 15.83 million HFT valued at $2.27 million.<br> – **Sui (SUI):** Token unlock on September 3, 2024, releasing 83.88 million SUI valued at $67.97 million.<br> – Historical trends show that significant token unlocks often lead to increased selling pressure and market volatility.</p>
<p style="text-align: justify">In conclusion, while the current market condition might suggest potential investment opportunities, investors should remain cautious regarding certain cryptocurrencies due to upcoming token unlocks and potential volatility.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/investors-should-skip-these-cryptocurrencies" data-wpel-link="internal" rel="noopener noreferrer nofollow">Investors Should Skip These Cryptocurrencies</a></h5>

Investors Should Skip These Cryptocurrencies

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