Over the upcoming week, the market will see $213M in digital assets being unlocked. This news has already raised concerns among investors.
Major Token Unlocks: Details
The next week will see significant token unlocks worth $213 million, introducing these assets to the market. The spotlight is on the Avalanche (AVAX) ecosystem, which will release tokens valued at $192.74 million, equating to 9.52 million AVAX tokens or 2.41% of the circulating supply.
Market Volatility
Token unlock events often lead to increased market volatility as the influx of supply can create selling pressure. Besides AVAX, tokens like Pixels (PIXEL), Space ID (ID), 1Inch (1INCH), Galaxy (GAL), Acala Token (ACA), Forta (FORT), and Ethena (ENA) are also set for significant unlocks next week.
Token and Project Information
In addition to AVAX, $7.26 million in PIXEL and $6.6 million in ID will be unlocked. GAL will see an unlock worth $1.31 million, ENA with $4.46 million, along with another $933.33K in GAL. These events are likely to cause short-term price volatility for these tokens.
Investors are closely monitoring the upcoming token unlock events and preparing for potential price fluctuations.
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