Altcoins have garnered considerable attention from investors amid the notable gains in the cryptocurrency market seen recently. However, the massive token releases looming on the crypto horizon have raised serious concerns in the market about the future prices of some cryptocurrencies.

Token unlocking refers to the timely release of the previously locked token. cryptocurrencies on the market. This phenomenon mainly results in an increase in the supply of the asset, presenting itself as a potential bearish factor.

Twenty-one altcoins are collectively ready to take on the heat of the over $350 million worth of token unlocks looming over the coming week. Here’s a quick rundown of these unlocks and their market implications.

Altcoins Ready for Massive Token Release

To put the prices into perspective, since prices are at risk due to an increase in supply, traders and investors in the cryptocurrency market may want to liquidate their holdings before these unlocks occur. This could put additional selling pressure on these coins, reinforcing their bearish position in the market when coupled with the token unlocks. Below are 21 coins that are facing this phenomenon.

Yield Guild Games (YGG)

Currently trading at $0.4838, up 4.41% from the previous day, the YGG token is expected to experience a cliff unlock of 14.08 million coins, worth $6.78 million. This unlock totals 3.73% of the total circulating supply, posing a significant threat to the price. According to data from Token Unlocking ApplicationThe mentioned unlocking is expected to take place today, July 27, at 2:00 PM UTC.

The release remains closely watched by cryptocurrency market participants, as releasing an amount equal to or greater than 1% of the circulating supply can negatively impact market dynamics.

Strong (STRONG)

Meanwhile, the FORT token is gearing up for the release of 50,000 coins, worth $8.51k, to the market on July 28. This release is equivalent to a mere 0.01% of the circulating supply.

FORT price was trading at $0.170 today, up 1.90% over the last 24 hours. Its daily lows and highs were recorded at $0.1646 and $0.1716 respectively.

SingularityNET (AGIX)

The AGIX cryptocurrency is preparing for a token release of 8.45 million coins, worth $4.68 million, on July 28. This release is equivalent to 1.35% of the coin’s total circulating supply.

The price of AGIX settled at $0.5614, down 0.84% ​​over the last 24 hours. Its daily lows and highs were recorded at $0.5465 and $0.6589, respectively.

Ethena (ENA)

Simultaneously, the ENA crypto is preparing to face the release of 14.89 million coins, worth $6.81 million, on July 28. This release totals 0.87% of the crypto’s circulating supply.

ENA price traded at $0.4567, up 3.46% from the previous day. Ethena’s 24-hour low and high were $0.4359 and $0.4725, respectively.

Portal (PORTAL)

PORTAL crypto is gearing up for a linear release of 860.44k coins per day for three days starting July 29. This is equivalent to 0.51% of the token’s circulating supply.

Portal price traded at $0.3964 today, up 7.54% over the last 24 hours. Its 24-hour lows and highs were recorded at $0.3667 and $0.4004 respectively.

Tornado Cash (TORN)

The TORN cryptocurrency is set to experience a release of 91.67k coins, or 2.41% of the circulating supply, on July 30. The value of this release is $216.33k.

TORN price was trading at $2.37 today, down 0.59% over the last 24 hours. Its 24-hour lows and highs were $2.37 and $2.44 respectively.

Prime Level (PRIME)

The Echelon Prime coin will be unlocked at 750,000 PRIME, worth $5.40 million, on July 31. This is equivalent to 1.75% of the circulating supply.

PRIME price was trading at $7.40, down 1.20% over the past day.

Optimism (OP)

The OP altcoin is gearing up for a release of 31.34 million coins, worth $52.97 million, on July 31. This is equivalent to 2.79% of the coin’s circulating supply.

OP price was trading at $1.74, up 0.58% over the past day.

Pendulum (PENDLE)

Meanwhile, a linear release of 34,48,000 PENDLE per day for seven days is scheduled to begin on July 31 for the Pendle cryptocurrency. While the price of PENDLE was trading at $3.94, up 0.26% over the past day.

Manta Network (MANTA)

Simultaneously, the MANTA token is gearing up for a release of 1.87 million coins on July 31. This is equivalent to 0.50% of the coin’s circulating supply, worth $1.69 million.

MANTA price was trading at $0.997, up 4.41% over the past day.

dydx

The DYDX cryptocurrency is expected to be unlocked with 8.33 million coins on August 1. This is equivalent to 3.65% of the cryptocurrency’s circulating supply, worth $10.25 million.

DYDX price was trading at $1.30, up 1.56% over the past day.

Helium (HNT) and GMT

Simultaneously, altcoins HNT and GMT are expected to see linear unlocks. GMT will see a unlock of 2.85 million coins per day for 31 days starting from August 1st. On the other hand, HNT will see a unlock of 41.10K HNT per day for the next 365 days starting from August 1st.

GMT price was trading at $0.153, up 3.55%, while HNT Price traded at $5.37, a gain of 3.67% over the past day.

Akash Network (AKT)

Simultaneously, the AKT crypto is preparing for the linear unlocking of 70.29k coins per day for the next 31 days starting from August 1. The unlocking is worth $218.61k per day.

AKT price was trading at $3.28, up 3.14% from yesterday.

Zeta Channel (ZETA)

The ZETA token is expected to see the release of 53.89 million coins, or 18.92% of the circulating supply, on August 1. This release is worth the equivalent of $33.17 million.

ZETA price was trading at $0.648, up 3.13% over the past day.

Cloud (CLOUD)

The Cloud token will face a linear unlock of 138.89k coins per day for 166 days starting August 1. The unlocks will be worth $38.73k per day.

CLOUD price was trading at $0.289, up 1.75% from yesterday.

Euler (EUL)

The EUL token is set to see a massive release of 49,560,000 coins on August 1. This release is equivalent to 0.27% of the coin’s circulating supply, worth $220,060,000.

The price of EUL was trading at $4.53, down 3.60% over the past day.

Read also : Peter Schiff Criticizes RFK Jr.’s Bitcoin Purchase Plan as Vote-Buying Strategy

Follow (SUI)

Simultaneously, the Sui cryptocurrency is preparing for a release of 64.19 million SUI starting August 1. This release totals 2.56% of the coin’s circulating supply, worth $48.08 million.

SUI Price traded at $0.779, up 1.02% from the previous day.

Galxe (GAL)

The Galxe coin is preparing to take the heat of a cliff release of 4.17 million GAL starting on August 2. This represents 3.52% of the coin’s circulating supply, worth $13.56 million.

The price of GAL was trading at $3.19, a slight decrease of 0.31% over the past day.

Wormhole (W)

The Wormhole cryptocurrency will see the unlocking of a staggering 600 million coins starting August 3. This equates to 33.33% of the altcoin’s circulating supply, worth $167.85 million.

The price of W was trading at $0.300, up 4.59% from yesterday.

Liquidity (LQTY)

Finally, the LQTY token will face an unlock of 489.01k coins on August 4. This represents 0.51% of the total circulating supply, worth $375.07k.

LQTY price was trading at $0.796, up 2.29% in the last 24 hours.

Read also : Mt Gox Bitcoin Creditors Face Withdrawal Restriction on Bitstamp

Fuente

On Dylan’s Crypto Banter trading show, The analyst said that the next target for Bitcoin is $70,000, especially if positive news comes out of the BTC conference. In summary, he said that the outlook is extremely bullish for BTC, with critical levels to watch and a potential push towards $70,000 if momentum continues and key events align favorably.

The analyst said that when he looks at the Solana ecosystem, he automatically considers tokens like Jupiter, Radium, Bonfida, and WIF. He also looks at meme coins within the ecosystem, which often outperform when Solana is booming.

Jupiter is particularly praised for its strong performance and recent uptrend. With a trend breakout and W formation, JUP looks set for bigger moves. Key support levels to watch are $0.96 and $0.99, with a potential target of $1.17.

JTO is another mention in the Solana ecosystem, especially with its recent relaunch and re-staking mechanism, called “reking,” which has already wreaked havoc. The 50-day moving average serves as important support, with a bullish outlook if it crosses above the 200-day moving average.

WIF, a Solana meme cryptocurrency, is showing bullish potential with support at $2.25 and potential scalping areas at $2.44 and $2.52. Monitoring these areas for bounces can help traders capitalize on bullish moves.

For AAVE, recent bullish news and changes in their staking mechanism have led to a price rally. The analyst said that key support lies at $99.6 and upside targets are $105 and $111.

For Injective Protocol (INJ), despite the resistance, there is potential for growth if BTC moves closer to $70,000. The analyst recommended monitoring bullish pullbacks and maintaining a balance between taking profits and holding for possible additional gains.

Fuente

As Bitcoin (BTC) approached the $67,000 mark on Friday, the altcoin market, led by Ethereum (ETH)has shown strong bullish signals. Many altcoins are reaching the peak of a multi-week consolidation phase that began earlier this year. On-chain data also indicates that institutional investors have been actively buying crypto assets, preparing for the next phase of the bull market.

Additionally, several altcoins have recently retested the bullish breakout of the overall downtrend. With Bitcoin dominance set to decline, focusing on the altcoin market could be a smart move to maximize returns.

Expert advice: What should you pay attention to?

According to market intelligence platform Santiment, investors should keep an eye on the average trading returns of different assets.

After critically analyzing market data, Santiment believes that Shiba Inu (SHIB), Uniswap (UNI), Polygon (MATIC), Chainlink (LINK), Cardano (ADA), and Ripple-backed XRP are the best large-cap altcoins to buy now to maximize profits in the future.

Meanwhile, Santiment pointed out that Toncoin (TONNE), Bitcoin, Ethereum (ETH), and Dogecoin (DOGE) present a higher risk to maximize profits in the planned alternative season.

Market Outlook: Volatility Ahead?

With the Federal Open Market Committee (FOMC) expected to deliver its policy statements next week, increased volatility in the cryptocurrency market is likely. Furthermore, historical data suggests that August could bring a bearish trend for the sector.

Despite this, the cryptocurrency market is expected to turn bullish again in the fourth quarter, driven by the US elections and anticipated interest rate cuts.

Read also : Kennedy Jr. Proposes $615 Billion Bitcoin Investment After Election Victory

Invest smart. The future of cryptocurrencies is bright.

Fuente

A widely followed crypto analyst and trader believes a memecoin is headed for the next leg higher.

Pseudonymous crypto trader Altcoin Sherpa tell his 216,400 followers on the social media platform X that Pepe (PEPE) market fundamentals appear solid.

“PEPE: I never got a chance to add $0.00001111, but I’m still in it. He seems pretty strong. I’m still a big fan of memes in general.”

Source: Altcoin Sherpa/X

Pepe is trading at $0.00001128 at the time of writing, down 8% in the last 24 hours.

Then the analyst said Ethereum (ETH) rival of Solana (GROUND) has greater upside potential due to network activity.

“SOL: Go long on Solana. Why? Because SOL memes continue to take off and everyone is denominated in Solana. Being in the trenches of crap money really helps you understand this stuff better. I expect a pullback soon, but this would be the bottom to buy in my opinion.”

Source: Altcoin Sherpa/X

Looking at the analyst’s chart, he suggests that SOL could eventually reach $205.

Solana is trading at $166 at the time of writing, down 6.7% in the past 24 hours.

Finally, the analyst said that Bitcoin (Bitcoin) appears to be in an uptrend but could retest the $63,000 level.

“BTC: Price still looks pretty strong to me. If you really want a dip to get in, look for $63,000 around the 200 four-hour exponential moving average (EMA). For now, things should continue in my opinion.”

Source: Altcoin Sherpa/X

At the time of writing, Bitcoin is trading at $64,596, down nearly 2% in the past 24 hours.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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