Altcoin
3 Altcoins To Skip Trading This Week Due To Token Unlocks
The cryptocurrency realm braces for yet another dynamic shift in prices of certain altcoins as massive token unlocks loom over the crypto horizon. In the coming week, three cryptocurrencies remain poised to bore the brunt of increased supply pressure, which could result in heightened turbulence in prices. Here’s a list of 3 cryptocurrencies to steer clear of trading this week, primarily due to the upcoming token unlocks.
3 Altcoins To Skip Trading This Week
It’s worth noting that token unlocks refer to the strategic release of previously locked tokens into the market. These tokens, when released after the locking period, aka vesting period, become available for trading activities. Listed below are the three tokens that remain poised to witness this phenomenon.
Optimism (OP)
Trading at $2.541, down 0.37% from yesterday, Optimism (OP) crypto stands firm to witness a token unlock on May 31. As per insights from the Token Unlocks App, $79.61 million worth of OP tokens will be released on the mentioned date, worth 2.88% of the circulation supply. This unlock could bring about a paradigm shift in OP’s price.
Whereas, it’s worth mentioning that the token’s 24-hour lows and highs are $2.506 and $2.604.
DYDX
Trading at $2.084, up 2.97% from yesterday, DYDX is another crypto that stands to witness a massive unlock. According to data from the Token Unlocks App, DYDX will witness the unlock of $69 million worth of tokens on June 1, equivalent to 11.9% of the circulating supply.
Crypto market enthusiasts expect this massive unlock to bring about a wave of bearish turns for DYDX’s price. Meanwhile, the token’s 24-hour lows and highs were recorded to be $1.968 and $2.133, respectively.
Also Read: Shiba Inu (SHIB) Exec Predicts Major Win Beyond “Shitcoin”
SUI
Trading at $1.0641, a 1.34% dip from yesterday, Sui is another crypto that remains poised to experience a gigantic token unlock. As per data surfacing within the market, $68.79 million worth of SUI tokens will be unlocked on June 1, worth 2.8% of the circulating supply. This unlock is also expected to generate a highly volatile price action for SUI.
Further, recent studies point out that token unlocks equivalent to more than 1% of the circulation supply have a significant influence on a crypto’s price movements. Crypto market participants continue to extensively eye these tokens amid token unlocks.
Also Read: Tom Emmer Slams Elizabeth Warren Amid Pro-Crypto Lawmakers Triumph
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.
A recent Binance update has triggered massive liquidations while sending Solana memecoin ACT into a steep correction. At first, pundits blamed market maker Wintermute for the jarring declines but Binance’s update to leverage and margin tiers appears to be the culprit.
Several Altcoins on Binance Suffer Massive Corrections
According to an X post, several altcoins listed on Binance took a major hit, dropping by double-digit percentages. The hardest hit of the lot was Solana memecoin ACT, experiencing a sudden drop of over 50% in 30 minutes.
Other altcoins including DEXE and DF equally recorded steep declines of 23% and 16% respectively in the same window. The price slump left traders scratching their heads but a consensus formed that sizable sell orders were behind the declines.
“The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume,” said one pundit.
Others turned to market maker Wintermute as the trigger for the selloff. However, Wintermute CEO Evgeny Gaevoy denied responsibility while noting that the market maker reacted “post move.”
The decline comes amid a broader market recovery with several cryptocurrencies including Compound (COMP) gaining 70%.
What Triggered The 50% Decline For Solana Meme Coin
A Binance update on leverage and margin tiers on specific tokens like ACT triggered the massive declines. According to an April 1 announcement, the top exchange has updated the margin tiers of several perpetual contracts, noting that existing positions will be affected.
Following the move, one ACT whale got liquidated for $3.79 million at $0.1877, triggering a broad selloff. Former FTX community manager Benson Sun noted that traders had less than 3 hours to respond to the change, criticizing Binance for the move.
“Before changing the rules, Binance should have evaluated how many positions would be closed,” said Sun. “If there are market makers with large positions, they should have notified them in advance.”
Within hours of MUBARAK’s listing, the memecoin tumbled by 40% with Binance CEO Changpeng Zhao downplaying the impact of a listing on prices. Binance has drawn criticism in recent days following its exclusion of Pi Network from its Vote To List initiative.
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.
A crypto market crash looks imminent, with Bitcoin, Ethereum, XRP, and Dogecoin witnessing notable declines. This price crash happened following the release of weak manufacturing PMI and JOLTS data, which provides a bearish outlook for the market.
Crypto Market Crash: BTC, ETH, XRP, & DOGE Decline
CoinMarketCap data shows that a crypto market crash could be on the horizon, with the Bitcoin price sharply dropping below $83,000 from a daily high of around $84,400. Altcoins such as Ethereum, XRP, and DOGE also witnessed sharp declines.
This market crash occurred following the release of weak ISM manufacturing PMI and JOLTS data. The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February.
The US JOLTS job openings for February came in at 7.568 million, below the expected 7.690 million and lower than the 7.762 million recorded in January. These data add to several macro fundamentals that paint a bearish outlook for the market.
This crypto market crash could persist, with China, Japan, and South Korea agreeing to respond to Donald Trump’s proposed tariffs. Trump is set to announce a number of reciprocal tariffs tomorrow, which could significantly harm the market as it sets off a trade war between the US and other nations.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
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.
The US government’s strategic crypto reserve has been a hot topic of discussion, sparking expert opinions and debates. While President Donald Trump has already signed an executive order for a Bitcoin reserve, the fate of XRP, SOL, and ADA hangs in balance. However, the Trump administration’s upcoming disclosure of its crypto holdings is expected to bring clarity to the inclusion of altcoins in the US reserve.
Notably, the US Department of the Treasury and other government agencies are expected to expose their Bitcoin and other crypto holdings this week. Let’s unveil this crucial move’s potential implications on the US crypto and financial landscapes.
US Government To Disclose BTC and Crypto Holdings
In a recent X post, Bitcoin Magazine CEO David Bailey unveiled a crucial event on April 5, 2025, which is poised to revolutionize the US financial economy. According to Bailey’s post, the US government is set to complete a comprehensive audit of the country’s Bitcoin holdings this Saturday. Bailey said, “Depending on what we learn, might answer many of the open questions about the recent price action.”
The upcoming audit will provide a detailed inventory of the government’s Bitcoin portfolio, held across federal agencies. It will also provide insights into the collection of other cryptocurrencies like XRP, SOL, and ADA. Thus, this audit could also provide clarity into the possibility of including these altcoins in the US crypto reserve.
How Will the Audit Impact the US Crypto Reserve?
For context, President Donald Trump proposed a strategic crypto reserve to include XRP, ADA, and SOL in the US reserve. This development came amid growing speculations of the adoption of Bitcoin as a reserve asset.
Significantly, Trump’s move invoked criticism, with Bitcoin maximalists questioning the legitimacy of other cryptocurrencies to be a national reserve.
Though Trump signed an executive order for establishing a BTC reserve, there is still uncertainty surrounding the altcoin reserve. However, the US government’s decision to reveal its crypto holdings could bring transparency and clarity to the nation’s digital assets. The audit may also shed light on the potential developments within the government and its decision on altcoin reserves.
US Government’s BTC Holdings: A Closer Look
According to Arkham Intelligence data, the US government currently boasts a total of 198,012 BTC worth around $16 billion. As per crypto czar David Sacks’ statement, the US government has seized approximately 400,000 Bitcoin through civil and criminal asset forfeitures over the past decade.
Though the US government’s Bitcoin holdings are well-documented, its altcoin portfolio is still shrouded in uncertainty. Nonetheless, experts believe that the audit has the potential to clarify the government’s altcoin holdings and reserve management strategies.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
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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