Token

io.net

Hashflow

Immutable

<p>The latest update from the Token Unlocks App has sent shockwaves across the dynamic world of <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener">crypto</a>. Notably, the prices of 6 altcoins brace for a substantial turbulent movement ahead. This is primarily attributable to $177 million worth of looming token releases, staging as a bearish market factor.</p> 
<p>Here’s an in-depth report on these upcoming token unlocks and why their future implications remain negative.</p> 
<h2 id="177m-worth-crypto-unlocks-ignite-investor-concerns">$177M Worth Crypto Unlocks Ignite Investor Concerns</h2> 
<p>Notably, the $177 million worth of unlocks encompasses crypto such as Aptos (APT), Xai (XAI), Immutable (IMX), Ethena (ENA), io.net (IO), and Hashflow (HFT). These token unlocks mainly stage as a bearish factor, as previously locked tokens are released into the market, thereby increasing the supply.</p> 
<p>Reportedly, unlocking more or equivalent to 1% of the circulation supply significantly impacts a crypto’s price action. Let’s delve deeper.</p> 
<h3 id="aptos-apt">Aptos (APT)</h3> 
<p>As per data from the <a rel="nofollow" href="https://token.unlocks.app/ethena" target="_blank">Token Unlocks</a> app, Aptos is to witness a cliff unlock of 11.31 million APT on July 12. This equals 2.49% of the circulating supply, worth $63.33 million.</p> 
<p>APT price rested at $5.59 today, up 4.02% over the past day. Its 24-hour bottoms and tops were $5.39 and $5.74, respectively.</p> 
<h3 id="xai-xai">Xai (XAI)</h3> 
<p>Xai token prepares to face an unlock of a whopping 198.40 million XAI on July 9. This is equivalent to 71.59% of the total circulating supply, worth $56.55 million.</p> 
<p>XAI price traded at $0.2835, down 0.83% despite the broader uptrend. Its 24-hour lows and tops were $0.2738 and $0.2986, respectively.</p> 
<p>It’s worth noting that XAI’s token unlock process is currently at 12%, hinting future turbulency might be possible.</p> 
<h3 id="immutable-imx">Immutable (IMX)</h3> 
<p>Simultaneously, the <a href="https://coingape.com/blog/top-5-gaming-cryptos-spike-up-this-week/" target="_blank" rel="noopener">Immutable crypto</a> will witness an unlock of 32.47 million IMX on July 12. This totals 2.15% of the token’s circulating supply, worth $40.59 million, posing a threat to the price.</p> 
<p>IMX’s price stood at $1.26 today, an upswing of 4.33%. The coin’s daily bottoms and peaks were $1.20 and $1.32, respectively.</p> 
<p>Also, data indicated that 76% of the unlock process had been completed for the crypto.</p> 
<h3 id="io-net-io">io.net (IO)</h3> 
<p>Similarly, io.net is set to experience an unlock of 2.87 million IO on July 11. The amount of the unlock is equivalent to 3.02% of the circulating supply, worth $5.98 million.</p> 
<p>IO traded at $2.08, up 0.09% at press time. The crypto’s 24-hour lows and peaks were $2.06 and $2.21, respectively.</p> 
<p><strong>Also Read:&nbsp;<a href="https://coingape.com/sponsored/ethereum-outflows-climb-to-60-7-million-as-institutional-investors-continue-to-favor-bitcoin-and-solana/" target="_blank" rel="noopener">Ethereum Outflows Climb To $60.7 Million As Institutional Investors Continue To Favor Bitcoin And Solana</a></strong></p> 
<h3 id="hashflow-hft">Hashflow (HFT)</h3> 
<p>Hashflow readies to take the heat of an unlock of 13.85 million HFT on July 7. This unlock equals 3.28% of the circulating supply, worth $2.41 million.</p> 
<p>HFT traded at $0.1742, an 11.38% upswing over the past day. Its 24-hour lows and tops were $0.1568 and $0.176, respectively.</p> 
<h3 id="ethena-ena">Ethena (ENA)</h3> 
<p>At last, although not 1%, the Ethena crypto will witness an unlock of 14.89 million ENA, worth 0.87% of the circulating supply on July 7. This could bring slight volatility in price.</p> 
<p>Intriguingly, CoinGape Media previously spotlighted massive <a href="https://coingape.com/altcoins-to-sell-based-on-token-unlocks-ahead/" target="_blank" rel="noopener">token unlock</a>s of specific cryptos, and this week saw a plunge in those cryptos’ prices. Market participants should try steering clear of trading these tokens in the upcoming week.</p> 
<p><strong>Also Read</strong>: <strong><a href="https://coingape.com/grayscale-removes-polygon-matic-retains-these-crypto-assets-funds/" target="_blank" rel="noopener">Grayscale Removes Polygon (MATIC) And Retains These Crypto Assets In Funds</a></strong></p> 
<p>The post <a href="https://coingape.com/6-cryptos-to-stay-cautious-of-as-177m-token-unlocks-approach/">Crypto To Stay Cautious Of As $177M Token Unlocks Approach</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

Crypto To Stay Cautious Of As $177M Token Unlocks Approach

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Altri articoli pubblicati su 6 lug 2024

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