Significant token unlocks involving AVAIL and VENOM are set for next week, which are likely to impact liquidity and trading volume in the crypto market.
Volume of AVAIL and VENOM Tokens Unlocked
The upcoming token unlocks will affect projects like Avail (AVAIL), Venom (VENOM), and AltLayer (ALT). According to Token Unlocks data, Avail will release about 972 million tokens valued at approximately $18.9 million. Venom will unlock roughly 59.26 million tokens estimated at $13.4 million. These events are part of scheduled distributions.
Market Reactions and Predictions
Market participants are keeping a close eye on these developments. Coincu researchers noted that "increased liquidity could lead to price volatility. Historical trends indicate short-term trading spikes followed by stabilization." Expectations for substantial market shifts remain moderate despite the unlocks.
Historical Context and Current Token Prices
Historical data shows that large-scale unlocks, like AVAIL's, have previously resulted in temporary trading volume surges, as seen with ARB and STRK. As of July 20, 2023, Avail (AVAIL) has a current price of $0.02 and a market cap of $49.45 million. Trading volume has decreased by 44.35% in the past 24 hours, while price changes over the last 30 days reflect a decline of 24.52%.
As the token unlocks for AVAIL and VENOM approach, cryptocurrency market participants expect changes in liquidity and trading intensity. While volatility is anticipated, experts indicate that the expected increase in tokens may lead to short-term speculation.
