Altcoins To Dodge Trading As Over $580M Worth Token Unlocks Loom
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Altcoins are bracing for significant supply pressure due to large token releases scheduled for this month. According to the TokenUnlocks App, it is estimated that over $580 million worth of cryptocurrency is about to enter the market. This event raises concerns among investors, fearing potential negative impacts on prices.
The unlocking of such a large number of tokens could lead to heightened volatility in the market. As these unlocked tokens become available for trading, their increased supply might influence the overall valuation of the respective altcoins.
Investors and traders are closely monitoring the market dynamics during this period. Many might consider adjusting their strategies to mitigate the anticipated risks associated with these massive token unlocks.
Source: coingape.com ↗
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