CandleFocus Beware: Cryptocurrencies to unlock $300 million supply this week
2024-09-29
Author: Content Editor
Twelve cryptocurrencies are set to unlock $291.59 million in previously non-circulating supply this week, leading to concerns about potential intensified sales and downward pressure on prices. Three projects, Sui, Optimism, and ImmutableX, will unlock over $220 million alone, representing 2% to 2.5% of their circulating supply. This influx of unlocked tokens can flood the market with early investors' exit liquidity. Traders and investors are advised to closely monitor these projects, particularly SUI, OP, and IMX, and exercise caution in their exposures as sales occur. This trend of token unlocks highlights the changing dynamics of cryptocurrency investing, which is now highly influenced by venture capitalists and vesting contracts. While exit liquidity benefits institutional players, retail investors are often negatively impacted by projects with frequent unlock events.
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