CandleFocus 3 cryptocurrencies to avoid trading this week amid unlocks
2024-10-06
Author: Content Editor
Three cryptocurrencies, Aptos (APT), Eigen Layer (EIGEN), and Optimism (OP), are set to unlock nearly $150 million worth of tokens, potentially leading to increased supply pressure and market uncertainty. These unlocks come from vesting contracts originating from private funding rounds or public launches, allowing early investors and contributors to realize their profits. Aptos is leading this week's unlocks, with $97.26 million worth of tokens becoming liquid and reaching the market. The unlocking of tokens has raised concerns among market participants, particularly retail investors who may be impacted by the increased supply. The founder of Europe's oldest cryptocurrency fund has criticized the dominance of predatory venture capitalists in the crypto market.
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