The week of September 23rd to 29th, 2024, will be significant for the cryptocurrency market as $48.53 million worth of tokens are set to be unlocked, according to Token Unlocks data. These events are anticipated to impact market dynamics for several key tokens, including VENOM, YGG, AGIX, FET, ENA, and GAL.
Token Unlock Highlights
Token unlocks have the potential to create market volatility as new supply affects supply and demand dynamics. The major unlocks for this week include: - VENOM (12.67%) – $25.11m - YGG (3.69%) – $6.57m - AGIX (1.62%) – $5.73m - FET (0.14%) – $5.61m - ENA (0.78%) – $3.80m - GAL (0.33%) – $0.98m
VENOM Price Analysis
VENOM leads the list with a substantial 12.67% share, unlocking $25.11 million worth of tokens. With the current price of $0.1068, a 1.31% increase, VENOM shows bullish signs. The upcoming unlock may test critical support and resistance levels, which are crucial for future price movement.
Other Key Tokens
AGIX’s volume surge of 316% indicates strong market interest amid bullish price trends. Meanwhile, YGG shows mixed signals, with key resistance at $0.47 potentially limiting further gains. Other tokens like FET, ENA, and GAL may also experience significant price fluctuations due to the unlocks.
The unlocking of over $48 million worth of tokens can significantly affect market dynamics in the upcoming week. Investors and analysts are keenly watching the developments, anticipating potential price and volatility shifts.
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