The altcoin market is bracing for significant events in the upcoming week that could impact prices. Here we consider the key announcements and risks traders should pay attention to.
Token Announcements and Launches
Several significant events are scheduled for various tokens in the coming days:
- **Infinex**: A "big announcement" is expected on June 24, possibly related to the "Infinex Connect" platform that will allow users to connect their accounts to external dApps.
- **Mango Network**: June 24 will see the launch of MGO tokens with a total supply of 10 billion, along with an airdrop for early supporters.
- **AirSwap (AST)**: A members-only Discord call will be held on June 25, which may influence its tokens, which have already shown a 53% increase.
- **BLAST**: On June 26, the unlocking of 10.5 billion tokens is expected to create market pressure and could lead to a price drop.
- The **Injective Summit** on June 26 may also result in price changes for INJ depending on announcements.
- On June 29, 100 million ACX tokens and 31.34 million OP tokens will be unlocked, potentially leading to further market fluctuations.
Geopolitical Risks and Market Impact
The situation with Iran and escalating geopolitical tensions have significantly affected the cryptocurrency market. Following U.S. airstrikes on Iranian nuclear sites, the price of Bitcoin (BTC) fell below $100,000. Given the possibility of retaliation from Iran, traders should be prepared for volatility in both cryptocurrency and macroeconomic markets.
Future Outlook
In light of upcoming events, traders can expect volatility in altcoin prices. Negative consequences from token unlocks may lead to price declines, while positive announcements from summits could spur price increases. Ultimately, reactions to key announcements and how traders adapt to market changes will dictate the overall trend.
Next week, the altcoin market will be influenced by a series of key events and geopolitical risks. Traders should be prepared for the possibility of significant price fluctuations.
