This week, the cryptocurrency market is poised for several major altcoin unlock events that could significantly impact trading dynamics. According to Token Unlocks, projects like SOLV, APE, and OM will release substantial amounts of coins into circulation.
Which Altcoins Are Unlocking This Week?
Key events this week include the unlocking of Solv Protocol (SOLV), where 117 million SOLV coins, equivalent to 7.93% of its circulating supply and valued at roughly $5 million, will be released. Additionally, ApeCoin (APE) will unlock 15.6 million coins accounting for 1.95% of its available stock, worth about $8 million. On March 18, QuantixAI (QAI) will unlock 566,000 coins, an enormous 3,960% of its circulating supply worth approximately $41.4 million. Fasttoken (FTN) will also unlock 20 million coins on the same day, valued at $79.8 million, representing 4.65% of its supply. Upcoming unlocks include Melania (MELANIA) and Polyhedra Network (ZKJ) this week.
How Will Coin Unlocks Affect Prices?
When coins are unlocked for an altcoin, it increases the total supply, often leading to price reductions. Unlocks may trigger short-term price changes as traders and investors react to the increased availability of coins.
Preparing for Market Volatility
With multiple altcoins facing significant coin unlocks this week, traders should prepare for potential market volatility. While the impact of these events on pricing remains to be seen, the sheer volume of unlocked coins could create notable price shifts across various digital assets.
Coin unlocks represent a significant event for the cryptocurrency market, and traders should closely watch how these events impact the market this week. Monitoring these developments could help capitalize on opportunities for successful trading.
