After an intense geopolitical environment and the halving agenda in Bitcoin, the cryptocurrency market is preparing to say hello to a new week. In addition to this excitement, a large amount of altcoins will be unlocked in many altcoins next week. This can lead to significant fluctuations both in the market as a whole and in the prices of the relevant altcoin projects.
Which altcoins will be unlocked?
As we reported as Kriptokoin.com, we experienced halving excitement over the weekend. Bitcoin and other altcoins did not experience any major changes. Still, the market is preparing to say hello to an exciting week after geopolitical tensions and the halving agenda in Bitcoin. Another development that will add excitement to this week is that large amounts of tokens will be unlocked in many altcoins. The coins that will be unlocked are as follows:
- April 22: Covalent (CQT), Algorand (ALGO), AltLayer (ALT), Sei (SEI), Space ID (ID)
- April 23: Cartesi (CTSI), Bonfida (FIDA), Moonwell (WELL), Coin98 (C98), Chainflip (FLIP)
- April 24: Ribbon Finance (RBN), Mask Network (MASK)
- April 25: H2O Dao (H2O), Pintu Token (PTU)
- April 26: GateToken (GT), Dogechain (DC), BreederDAO (BREED)
- April 27: Flow (FLOW), Axelar (AXL), Yield Guild Games (YGG)
- April 28: Fetch.ai (FET), Chromia (CHR), Maverick Protocol (MAV), Radworks (RAD), Clearpool (CPOOL), Open Campus (EDU), ECOx (ECOX)
Among these coins, GateToken (GT), which will unlock $46 million, and Axelar (AXL), which will unlock $30.18 million, are in critical condition. Then, Ribbon Finance draws attention with its unlocking amount of $25.31 million. The unlock amount of $9.55 million in Yield Guild Games follows RBN. Cryptocurrencies such as EDU, FET, FLOW will realize lock openings of 5-6 million dollars. Apart from these, the list mostly has unlock amounts of $1-2 million.
What are the effects of the unlocks?
Lock openings can increase the supply of tokens in circulation, creating selling pressure on the price. This may be especially evident in altcoin with a large amount of unlocked tokens and low market depth. However, it should not be forgotten that the impact of unlocking is not limited to supply. Investor sentiment, project developments and general market trends are also among the important factors affecting token prices.
All the altcoins in the list above will be on investors’ radar this week due to their key openings. Especially altcoins with a high amount of unlocked tokens compared to the market value may have more risk and return potential. However, as always in such investments, it is very important to do detailed research and consider the risks. The cryptocurrency market is, as always, full of excitement and uncertainty. Investors should be careful in such situations and conduct detailed research before making investment decisions.
To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel
