The prices of VENOM and ALT tokens are on the rise amid upcoming large-scale token unlocks, piquing traders' interest. From March 24 to 31, several projects are set to release millions worth of tokens, potentially shaking up the market.
Current Status of Venom
VENOM is on an upward trend, rallying 26% in the past week to a price of $0.1191. The market cap is at $117.8 million, up by 1.84%. Unlike ALT, VENOM's trading volume surged by 43.86% in the last 24 hours, reaching $451.15K. The planned unlock on March 25 at 08:00 AM UTC will release 59.26 million VENOM tokens into the market, valued at approximately $7.05 million. This represents 2.90% of the circulating supply. With 62% of the total VENOM supply still locked, investors are closely watching the market's reaction.
Market Dynamics of ALT
ALT has been on a significant run, increasing nearly 30% over the past week ahead of its major unlock on March 25 at 10:00 AM UTC. Currently priced at $0.03961, ALT has gained 13.05% in the last seven days. However, while the price has risen, the market cap slightly slipped to $110.61 million, down by 1.77%. Trading volume fell by 15.90%, down to $18.98 million in the last 24 hours. The upcoming unlock will see 240.10 million ALT tokens worth $9.51 million enter circulation, making up 8.60% of the circulating supply.
Unlocks Impact on the Market
Besides VENOM and ALT, other major tokens, such as SOL, WLD, TIA, DOGE, AVAX, and more, have recently experienced large unlocks. These events can result in either price increases or declines, adding to market uncertainty. Unlocks can be seen as both buying opportunities and signals for potential sell-offs. With numerous major unlocks planned, the market is bracing for an unpredictable and volatile week. Will the market absorb the new supply, or will profit-taking take center stage?
With numerous token unlocks on the horizon, the market is gearing up for a potentially volatile week. Investors are closely monitoring the trends to quickly respond to changes.
