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15 Altcoins To Sell Ahead As $300M Worth Token Unlocks Approach

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The cryptocurrency universe prepares for another bearish market wave for certain altcoins, raising investor concerns globally. Recent data from the Token Unlocks app indicated that nearly $300M worth of tokens are set to be released into the market over the coming week. Investors remain apprehensive over 15 coins that are poised to face massive unlocks ahead, which in turn risks future prices. Here’s a brief report on the upcoming unlocks of 15 tokens and their price action today.

15 Altcoins To Face Token Unlock Ahead

According to the data by Token Unlocks, 15 altcoins that are to face a supply increase ahead are Aptos (APT), Arbitrum (ARB), EigenLayer (EIGEN), Axie Infinity (AXS), Starknet (STRK), Taiko (TAIKO), Cardano (ADA), ApeCoin (APE), Echelon Prime (PRIME), Render (RENDER), Ethena (ENA), CYBER, Astar (ASTR), Nym (NYM), and Forta (FORT).

Token unlocks refer to a phenomenon wherein previously locked tokens are periodically released into the market, impacting supply. This phenomenon raises investor concerns as prices take a hit, abiding by the law of supply and demand. Let’s delve deeper into the upcoming unlocks.

Aptos

Aptos is set to witness an unlock of 11.31 million APT, worth $93.65 million, on October 11. This unlock equals over 2% of the altcoin’s circulating supply. Meanwhile, APT price traded at $8.25, down nearly 0.5% over the past day. Its intraday low and high were $7.88 and $8.34, respectively.

Arbitrum

Arbitrum is poised to face an unlock of 96 million ARB, worth $51.06 million, as of October 16. The unlock totals 2.65% of the coin’s circulating supply. ARB price today traded at $0.5319, up nearly 1% in the past 24 hours. The coin’s intraday low and high were $0.507 and $0.5346, respectively.

EigenLayer

EigenLayer readies for an unlock of 11.22 million EIGEN, worth $42.07 million, on October 15. This unlock is equivalent to a whopping 6% of the crypto’s circulating supply. EIGEN price traded at $3.75 today, up nearly 0.5% in the past 24 hours. The coin’s intraday low and high were recorded as $3.58 and $3.90, respectively.

Axie Infinity

Axie Infinity prepares to face an unlock of 9.25 million AXS, worth $41.92 million, as of October 14. The unlock remarks to a whopping 6.08% of the altcoin’s circulating supply. AXS price soared nearly 1.5% in the past 24 hours and is currently trading at $4.54. The coin’s 24-hour low and peak were $4.33 and $4.53, respectively.

Starknet

Starnet stands primed to witness an unlock of 64 million STRK, worth $25.32 million, as of October 15. The unlock mirrors 3.30% of the coin’s total circulating supply. STRK price traded at $0.3967 today, noting gains worth roughly 5% in the past 24 hours. Its intraday low and high were $0.372 and $0.3971, respectively.

Taiko

Taiko readies for an unlock of 12 million TAIKO, worth $18.84 million, as of October 14. The unlock is equal to 16% of the coin’s circulating supply. Besides, TAIKO price traded at $1.56, noting a 0.4% decline in the past 24 hours. Its 24-hour low and high were recorded as $1.51 and $1.57, respectively.

Cardano

Cardano stands strong to face an unlock of 37.06 million ADA, worth $12.83 million, as of October 12. The unlock stands equal to 0.10% of the altcoin’s circulating supply. ADA price pumped nearly 3% in the past 24 hours and is now sitting at $0.3455. Its intraday low and high were $0.3321 and $0.347, respectively.

ApeCoin

ApeCoin is to face an unlock of 15.60 million APE, worth $11.02 million, as of October 17. The unlock weighs equivalent to 2.31% of the coin’s circulating supply. APE price jumped over 1% in the past 24 hours to reach $0.7069. The coin’s intraday low and high were $0.6746 and $0.7093, respectively.

Echelon Prime

Echelon Prime prepares for an unlock of 750K PRIME, worth $5.85 million, as of October 17. This unlock evaluates to 1.5% of the coin’s total circulating supply. PRIME price dropped nearly 2.5% over the past day to reach $7.81. The coin’s intraday low and high were $7.70 and $8.12, respectively.

Ethena

Ethena readies to face an unlock of 12.86 million ENA, worth $3.61 million, as of October 16. The unlock totals 0.47% of the altcoin’s circulating supply. ENA price pumped over 4% in the past 24 hours to $0.2809. Its intraday low and high were $0.2571 and $0.2836, respectively.

Render Network

Render stands primed to experience an unlock of 492.13K RENDER, worth $2.61 million, as of October 14. This unlock is equivalent to 0.13% of the coin’s circulating supply. RENDER price surged over 4% in the past 24 hours to $5.31. The coin’s 24-hour low and high were $4.91 and $5.33.

CYBER

CYBER is to witness an unlock of 886.12K coins, worth $2.57 million, as of October 14. The unlock stands equal to 3.81% of the altcoin’s circulating supply. CYBER price jumped nearly 2% in the past 24 hours to $2.90. The coin’s intraday low and high were $2.76 and $2.98, respectively.

Astar

The crypto Astar will witness an unlock of 9.72 million ASTR, worth $567K, as of October 17. The unlock totals 0.13% of the coin’s circulating supply. Further, ASTR price gained roughly 0.5% over the past day to reach $0.05834. Its intraday low and high were $0.05619 and $0.05862, respectively.

Nym

Nym is to face an unlock of 2.73 million coins, worth $200.76K, on October 15. This unlock is worth 0.34% of the coin’s circulating supply. NYM price today traded at $0.07356, down 3.5% in the past 24 hours. The coin’s intraday low and high were $0.07354 and $0.07635, respectively.

Forta

Lastly, Forta readies for an unlock of 2.66 million FORT, worth $296K, as of October 13. The unlock totals 0.56% of the coin’s circulating supply. FORT price dipped over 1% in the past 24 hours and is currently trading at $0.1113. Its 24-hour low and high were $0.1079 and $0.112, respectively.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Elon Musk Rules Out The Use Of Dogecoin By The US Government

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Elon Musk has doused optimism for the US government to adopt Dogecoin at the America PAC town hall event. The head of the Department of Government Efficiency (DOGE) noted that the government agency only bears a nominal resemblance to the memecoin.

Elon Musk Dispels Rumors Of Dogecoin Adoption By The US Government

At a recent event, Tesla CEO Elon Musk cleared the air on the potential adoption of Dogecoin by the US government. In his keynote speech, Musk noted that the US government will not be adopting Dogecoin, contrary to swirling speculation.

Musk noted that the speculation gained traction following the launch of the Department of Government Efficiency (DOGE). Following the launch of DOGE and Musk tapped to lead the agency, enthusiasm for Dogecoin government utility reached new highs.

However, Musk clarified that the agency bears only a nominal resemblance to the memecoin, stemming from an internet trend. The Tesla CEO disclosed that the original intended name was the Government Efficiency Commission, opting for DOGE “because the internet is right.”

“The name is similar but they are two different things,” said Musk. “But there are no plans for the government to use Dogecoin as far as I know.”

Musk has a long and storied history with Dogecoin, famously shilling the memecoin and integrating DOGE payments for Tesla. Musk teased an anime-themed DOGE on X, setting the stage for a $2 rally for the memecoin.

DOGE Reacts Negatively To The News

Dogecoin price slumped by nearly 2% in the wake of the grim report. Currently, the memecoin is trading at 0.1660 as it eyes a push toward the $1 mark.

The negative fundamental adds pressure to reports of DOGE forming a falling wedge pattern, signaling a potential downward breakout. However, optimists are rippling with confidence that DOGE can shake off the negative sentiments to post new all-time highs.

One analysis claims that if the Dogecoin price breaks a 3-month trendline, an $8 valuation for the memecoin is in play. Others claim that the House of Doge Reserve launch will be a tailwind for Dogecoin price, sending the dog-themed coin on a strong rally.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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$33 Million Inflows Signal Market Bounce

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Crypto inflows hit $226 million last week, signaling a cautiously optimistic investor sentiment amid ongoing market volatility.

According to CoinShares data, altcoins broke a five-week streak of negative flows, recording their first inflows in over a month.

Crypto Inflows Hit $226 Million Last Week

This turnout marks a significant slowdown from the previous week when crypto inflows hit $644 million, ending a five-week outflow streak. Before that, inflows peaked at $1.3 billion, with Ethereum outpacing Bitcoin in investor demand.

“Digital asset investment products saw $226 million of inflows last week suggesting a positive but cautious investor,” read an excerpt in the report.

The pullback to $226 million last week suggests a more measured approach by investors as they assess macroeconomic conditions and regulatory uncertainties.

Specifically, CoinShares’ researcher James Butterfill ascribes Friday’s minor outflows of $74 million to core personal consumption expenditure (PCE) in the US, which came in above expectations.

“The Fed’s preferred measure of inflation (Core PCE) moved up to 2.8% in February & remains well above their 2% target that has yet to be achieved. The market is expecting the Fed to hold rates steady again at their next meeting on May 7 (at 4.25-4.50%),” investor Charlie Bilello noted.

Nevertheless, this turnaround comes after nine consecutive trading days of inflows into crypto ETPs (exchange-traded products).

Despite the slowdown, Bitcoin continued to attract strong inflows of $195 million. Meanwhile, short-Bitcoin products registered outflows of $2.5 million for the fourth consecutive week. This suggests that investors are leaning bullish on Bitcoin, even as altcoins begin to recover.

The CoinShares report shows that altcoins saw $33 million in inflows last week after suffering $1.7 billion in outflows over the past month.

Altcoins Rebound After $1.7 Billion in Outflows

Ethereum (ETH) led the recovery, attracting $14.5 million, then Solana (SOL) at $7.8 million, while XRP and Sui recorded $4.8 million and $4.0 million, respectively. Market analysts believe altcoins may be bottoming out, creating potential buying opportunities.

“Altcoins are oversold. The bottom is close. We’re ready for a bounce,” renowned analyst Crypto Rover highlighted.

Other analysts echoed the sentiment, suggesting growing attention toward altcoins. Among them was trader Thomas Kralow, who said, “altcoins are setting up for a comeback.”

Adding credence to this bullish outlook for altcoins, project researcher BitcoinHabebe, known for insightful mid-low cap sniper entries, pointed to technical indicators suggesting a market reversal.

“While bears are trying to spread fear & make you sell your altcoins, the TOTAL3 [Altcoins market cap chart excluding Bitcoin and Ethereum] just bounced off an HTF [higher timeframe] retest,” the analyst stated.

This means most coins have bottomed out and are expected to start reversing soon. Cole Garner noted a key buy signal in market liquidity metrics, further supporting this view.

“Tether Ratio Channel already flashed a double buy signal this month. Now my lower timeframe version is popping off. Fresh capital incoming,” he indicated.

The Tether Ratio Channel is an on-chain analytical tool that helps traders identify potential buy signals. It tracks the ratio of Bitcoin’s market capitalization to that of stablecoins, acting as a leading indicator for short- to medium-term trends.

When the ratio hits certain levels, it can signal shifts in market sentiment, often indicating whether fresh capital is entering or exiting the market.

While overall crypto inflows have slowed compared to previous weeks, the return of capital into altcoins suggests renewed investor confidence. Analysts see signs of an impending altcoin rally, with market metrics indicating that most coins have bottomed out.

As investors weigh macroeconomic uncertainties, the coming weeks could be critical in determining whether the altcoin recovery sustains momentum or if caution prevails.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano Price Eyes Massive Pump In May Following Cyclical Patern From 2024

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Cardano price is repeating a pattern from 2024 that experts say is a signal for a massive pump in the coming weeks. While present figures are largely underwhelming for ADA, investors are brimming with confidence for a strong reversal in the near future.

Cardano Price Can Reach $2.5 In May

According to pseudonymous cryptocurrency analyst Master Kenobi, Cardano price is exhibiting cyclical behavior. In a post on X, Master Kenobi notes that ADA’s consolidation in recent days mirrors its price action from Q3 of 2024.

At the time, Cardano’s price suffered a steep correction in early August and endured a lengthy consolidation period before rallying. Presently, Cardano’s price is consolidating after the deep in early February that sent prices to $0.49.

“ADA is currently in a consolidation phase that resembles its behavior from August-September 2024,” said Master Kenobi. “Since the dip on August 5, it hasn’t recorded a new low – just as it hasn’t now, following the dip on February 3.”

According to Master Kenobi, a lengthy consolidation phase will be the precursor for an impressive rally for Cardano’s price. The analyst theorizes that the incoming rally will send Cardano to impressive levels in May. In the short term, analysts are eyeing ADA to hit $1, citing rising whale activity and positive fundamentals.

“If this pattern holds, May could bring a massive pump, potentially pushing the price toward $2.5,” said Master Kenobi.

ADA Ripples With Bullish Activity

At the moment, Cardano price is trading at $0.6646, a far cry from its all-time high of $3.10. Despite the lull in price action, the ecosystem is brimming with bullish activity for higher valuation.

Investors have their eyes on $10 after ADA outperformed top S&P 500 companies in a strong show of resilience. Futhermore, increased whale activity in the space is signaling an impending rally for ADA as community sentiment reaches an all-time high.

Analysts have opined that an ADA rally to $10 is not a crazy prediction, citing a slew of positive fundamentals for the network. However, pundits are urging investors to brace for multiple corrections in the march to reach a valuation of $10.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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