Upcoming Token Unlocks Could Impact Crypto Market
A series of token unlocks are set to take place this week in the cryptocurrency market, according to CryptoRank Platform. These events have the potential to affect market liquidity and trading volume, potentially leading to a decline in asset prices.
Aptos to Release $24.8 Million Worth of APT Tokens
The first unlock is scheduled for September 12, when blockchain platform Aptos will release $24.8 million worth of APT tokens into circulation.
BitDAO’s Massive Unlock of Over 172 Million BIT Tokens
The largest unlock will occur on September 16, with BitDAO unlocking over 172 million BIT tokens. At current rates, this amount is valued at over $70 million.
Other Notable Unlocks
On September 17, there will be an unlock of $53.5 million worth of APE tokens, followed by an unlock of $36 million in UNI tokens on the following day.
Hot Take: Token Unlocks and Their Impact on the Crypto Market
Token unlocks have the potential to significantly impact the crypto market. As large amounts of tokens are released into circulation, it can lead to increased supply, potentially causing a decline in prices. Traders should closely monitor these unlocking events and consider their potential effects on market dynamics.
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