As we step into September, the altcoin market is poised for significant token unlocks, totaling over $2 billion.
This follows a similar trend in August, where $2.26 billion in token unlocks occurred, led by $SOL, $WLD, and $AVAX.
This month, $SOL takes the lead with $360.78M in unlocks, closely followed by $WLD at $304.72M.
💡 Altcoin Unlock Trends: September Market Insights 💡
In August, we saw over $2.26 billion in token unlocks, with $SOL, $WLD, and $AVAX leading the charge.
As we move into September, total altcoin unlocks will exceed $2 billion again, requiring significant market absorption.… pic.twitter.com/M6EqkIhKVJ
— Token Unlocks (@Token_Unlocks) August 25, 2024
Some Notable Token Unlocks To Monitor, Including Ethena
Notable unlocks include Ethena’s 14.89 million tokens on September 1st, representing 0.82% of its circulating supply, valued at $5.4 million.
Update on $SUI
Sui will unlock about 64.19 million tokens on Sept. 1 at 8:00 AM. This represents 2.47% of its current circulating supply, with an estimated value of $65 million.
Current forming a bullish W pattern, a break above resistance will lead to our targets.#SUI pic.twitter.com/i1SpDe69p4
— Mails (@Mails_08) August 25, 2024
Sui will also unlock 64.19 million tokens on September 1st, equivalent to 2.47% of its current circulating supply, estimated at $65 million.
Update on $ENA#ENA is one of the best chart, Wave two correction of the 5th bullish wave looks complete.
Ethena will unlock about 14.89 million tokens on Sept. 1st, This estimates 0.82% of its circulating supply, with a value of $5.4 million.
Bullish wave 3 rally is next. pic.twitter.com/m6E6pP99IB
— Mails (@Mails_08) August 25, 2024
As these unlocks approach, market absorption will be crucial. Investors should be prepared for both challenges and opportunities arising from this increased supply. The market’s ability to absorb these tokens will significantly impact their value and the overall altcoin market dynamics.
Keep a close eye on these unlocks and their market impact, as they may present strategic investment opportunities or require adjustments to your portfolio.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: dvigalet/123RF // Image Effects by Colorcinch
