Next week, the market will see a significant influx of digital assets totaling approximately $213 million. The major focus will be on the layer one blockchain Avalanche (AVAX), alongside the release of tokens for altcoins such as Pixels (PIXEL), Space ID (ID), 1Inch (1INCH), Galaxy (GAL), Acala Token (ACA), Forta (FORT), and Ethena (ENA).
Key Data
Tokens worth a total of $213 million will become available in the digital asset market. The most extensive player will be the layer one blockchain Avalanche (AVAX), which will release 9.52 million AVAX tokens, accounting for 2.41% of the total tokens in circulation.
Detailed Token Information
PIXEL tokens will grant access to 54.37 million units valued at $7.26 million, representing 7.05% of the total supply. ID tokens will provide access to $6.6 million, accounting for 4.29% of the total circulating tokens. INCH will release $67.64K tokens, making up just 0.2% of the overall supply. GAL tokens will enable access to $1.31 million, while ENA tokens will unlock $4.46 million. ACA and FORT will release $239.79K and $5.85K tokens, representing 0.46% and 0.01% of their respective circulating supplies.
Potential Market Impact
This substantial volume of new tokens could lead to increased volatility in the alternative cryptocurrency market. Investors will focus on how the introduction of these new tokens will affect market dynamics and prices.
The digital asset market is gearing up for significant changes with the release of new tokens totaling approximately $213 million. Only time will tell how these events will impact the overall market situation.
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