The upcoming week will be pivotal in the cryptocurrency space as significant volumes of new tokens will be unlocked, potentially impacting market trends.
Major One-Time Coin Unlocks
From June 16 to June 23, 2024, nine altcoins with a total value exceeding $5 million each will experience substantial one-time unlocks. Leading the list is FTN, which will release 20 million tokens valued at $88.8 million, representing 2.22% of its total supply. Following closely is ZK with a release of 768.52 million tokens worth $38.24 million, or 20.91% of its total supply.
Daily Coin Unlocks for Altcoins
During the same period, daily linear unlocks will account for substantial volumes of coins entering the market. With daily releases exceeding $1 million, these releases will span across 12 altcoins. Leading this category is SOL with 465.77 thousand tokens valued at $72.57 million, representing 0.09% of its total supply.
Impact on the Cryptocurrency Market
It is expected that the significant volume of new tokens will influence market dynamics by altering supply and demand across different platforms. In particular, daily releases of DOGE, TIA, and other altcoins could significantly affect price movements.
The unlocking of large amounts of tokens next week is likely to have a significant impact on the cryptocurrency market, altering trading and investment dynamics.
