Token Unlocks: Potential Impact and Entry Opportunities for Altcoins
Token unlocks can have a significant impact on the price of a cryptocurrency. After a big unlock, the price of a token usually drops, sometimes by as much as 10%. This September, three altcoins are about to see a total of approximately $178 million worth of unlocks. This could lead to a major price drop, especially considering that there is currently no significant inflow of money into crypto. The question then becomes, who will buy this extra supply? While it may provide a great entry point for some altcoins, it’s advisable to wait for the price to settle first.
#1: Apecoin (APE)
The biggest unlocking event this month is Apecoin (APE), with an unlock of 11% of their circulating supply scheduled for September 17th. This amounts to 40.6 million APE tokens worth around $54.41 million at the current price. APE has already unlocked 50% of their tokens, but this upcoming unlock is much larger and may lead to another drop in price.
#2: Optimism (OP)
Optimism is another altcoin with a significant unlock scheduled for September. So far, only 25% of their token supply has been unlocked. On September 30th, they will be unlocking 3.03% of their circulating supply, which is equivalent to 24.16 million tokens valued at $31.89 million. The previous unlock in August resulted in a price drop of around 13%, so there may be selling pressure and a potential price drop with this upcoming unlock as well.
#3: Aptos (APT)
Aptos is the third altcoin with a notable unlock event in September, set for September 12th. This unlocking will release 1.98% of their circulating supply, amounting to 4.54 million APT tokens worth $24.85 million. Aptos has only unlocked 18% of their total locked supply so far, and there are expectations for negative price impact on APT as more unlocks occur in the future.
Hot Take: Token Unlocks Present Risks and Opportunities
Token unlocks can be risky events for investors, as they often lead to price drops. However, for those looking to enter the market, these unlocks can also present attractive entry opportunities. It’s important to closely monitor the price movements before making any investment decisions. As always, conducting thorough research and understanding the potential risks is crucial when dealing with cryptocurrency investments.
Sources:
– [CryptoRank Platform Twitter](https://twitter.com/CryptoRank_io/status/1436318668009952768)
– [CoinW Exchange Twitter](https://twitter.com/CoinWOfficial/status/1433092615095536640)
– [Token Unlocks Twitter](https://twitter.com/Token_Unlocks/status/1433069637695717889)
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