Altcoins
Unlocked Tokens Worth Over $138 Million Are At Risk Of Liquidation Next Week
Altcoins News: The latest update to the Token Unlocks app reveals that six altcoins are gearing up to face pressure from increased market supply in the coming week. This is due to massive token unlocking, a phenomenon in which previously locked tokens are periodically released into the market.
It is worth noting that $138.8 million worth of cliff unlocks are about to reach some altcoins in the coming days. These tokens include AltLayer (ALT), Sace ID (ID), Ethena (ENA), Galxe (GAL), Yield Guild games (YGG) and Acala (ACA).
Here is a brief report on the unlocking tokens This may serve as important Altcoin news for cryptocurrency market participants.
AltLayer (ALT)
The AltLayer cryptocurrency is set to see a staggering 684.21 million ALT, worth $111.01 million, released on July 25. This equates to 42.08% of the circulating supply, raising serious concerns among investors about the future implications of the market.
At the time of publication, ALT price was trading at $0.1619, up 5.29% from the previous day. Its 24-hour lows and highs are $0.1572 and $0.1729, respectively.
Space ID (ID)
The Space ID token will be unlocked starting July 22 with 18.49 million IDs, worth $9.01 million. This is equivalent to 4.29% of the coin’s circulating supply.
The ID price traded at $0.4875, an increase of 5.70% from yesterday. tokens The 24-hour lows and highs were $0.4607 and $0.5011, respectively.
Ethena (ENA)
Ethena is set to release 14.89 million ENA, worth $7.32 million, on July 21. This represents 0.87% of the coin’s circulating supply.
ENA price was trading at $0.493 today, up 6.97% over the past day. Ethena’s 24-hour lows and highs were recorded at $0.4699 and $0.5116, respectively.
Yield Guild Games (YGG)
The Yield Guild Games cryptocurrency will see a release of 14.08 million YGG, worth $7.56 million, on July 27. This represents 3.74% of the coin’s circulating supply.
YGG price traded at $0.5369, up 2.97% over the past day. The token’s 24-hour low and high were $0.5183 and $0.555, respectively.
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Galxe (GAL)
Altcoin Galxe is preparing for a release of 1 million GAL, worth $3.60 million, on July 24. This is equivalent to 0.85% of the circulating supply.
GAL price settled at $3.58 today, down 5.78% from the previous day. Its 24-hour low and high were $3.54 and $3.92, respectively.
Acala (ACA)
Acala is expected to release 4.66 million ACA, worth $340.03k, on July 25. This represents 0.46% of the coin’s circulating supply.
The price of ACA was $0.07291, up 2.53% from yesterday. cryptocurrencies The 24-hour lows and highs were $0.07132 and $0.0759, respectively.
It is worth noting that the above-mentioned token releases remain highly watched by market participants as investor concerns persist regarding this new altcoin, mainly due to the increased supply.
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