The rapidly evolving world of cryptocurrencies is preparing for another major transformation. Large-scale token unlocks are imminent, which may have an impact on market dynamics. This event refers to the periodic release of tokens that were previously locked, which typically leads to price fluctuations. In the coming week, four cryptocurrencies will be ready to handle the potential impact of increased market supply.
Next week, these projects will unlock tokens worth over $420,000. Among the more well-known projects are AltLayer (ALT), Yield Guild Games (YGG), Ethernity Chain (ENA), and SingularityNET (AGIX).
AltLayer (ALT)
On May 21st, AltLayer (ALT) will unlock 2.003 billion ALT tokens, worth $69,200. This unlock represents 1% of AltLayer’s total supply, indicating that the price may decrease due to the increased supply.
Price at the time of writing: $0.191
24-hour change: -3.97%
Read more:
Yield Guild Games (YGG)
On May 27th, Yield Guild Games (YGG) will unlock 106,700 tokens, worth $44,800. This unlock represents 1% of the circulating total supply, posing a risk to the price.
Price at the time of writing: $0.6511
24-hour change: -0.64%
Ethernity Chain (ENA)
On May 23rd, Ethernity Chain (ENA) will unlock 88,800 tokens, worth $8,700, constituting 1% of the circulating supply.
Price at the time of writing: $0.6006
24-hour change: -2.10%
Read more:
Potential altcoin candidates for airdrops and Binance listings
SingularityNET (AGIX)
AGIX is set to merge with OCEAN and FET and will unlock 280,000 tokens worth $6,700 on June 5th. This quantity represents 1% of the circulating supply.
Price at the time of writing: $0.6343
24-hour change: -3.79%
The upcoming token unlocks are a crucial period for the affected cryptocurrencies. While increased supply may lead to price drops, the long-term impact will depend on market demand and overall sentiment.
