Altcoins
List of Top 3 Altcoins to Avoid This Season
The altcoin market is experiencing turbulence, with major altcoins recording declines. According to Altcoin Buzz AnalystIt is possible that their price will continue to fall. This is due to the fact that more than 40 projects in the cryptocurrency space are planning to launch tokens worth more than $750 million. This large influx of tokens could lead to considerable sales. Here is a list of altcoins to avoid.
Aptos (APT)
The first planned release is Aptos, a recurring project. It is a layer-1 blockchain designed for scalability, reliability, and security. Aptos aims to provide faster transaction speeds and lower costs, making it suitable for various decentralized applications.
On July 12, they plan to release 11.31 million APT Tokens The project’s tokens, worth $77 million, represent 2.59% of the circulating supply. These tokens are allocated to its foundation, community, major contributors, and investors. The three-month chart shows a drop in price, from around $14 to less than $6. This recent release could continue to put downward pressure on the price.
Arbitration (ARB)
Next on the list is Arbitrationa layer 2 scaling solution for Ethereum designed to improve transaction speed and reduce costs. Arbitrum uses optimistic rollups to improve the efficiency and scalability of Ethereum.
In May, Arbitrum released $95 million, followed by $105 million in June. On July 16, they plan to release an additional $75 million in tokens to their team, advisors, and investors. Since March, the price of ARB has dropped significantly, from an all-time high of $2.27 to around $0.63.
AltLayer (ALT)
Finally, decentralized protocol AltLayer is set to release 684 million ALT tokens worth around $125 million on July 25. These tokens are allocated to its team, investors, advisors, protocol development, treasury, ecosystem, and community. The price of ALT has dropped significantly, and the upcoming release is likely to add more downward pressure.
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