Altcoin
Altcoins Traders Brace For Over $350 Million Token Unlocks
Altcoins have garnered significant investor attention amid the notable crypto market gains witnessed recently. However, massive token unlocks looming over the crypto horizon have raised severe market concerns about the future prices of specific cryptocurrencies.
Token unlock refers to the timely release of previously locked cryptocurrencies into the market. This phenomenon primarily offers a supply increase to the asset, staging as a potential bearish factor.
Twenty-one altcoins are collectively poised to face the heat of over $350 million worth of token unlocks looming above the upcoming week. Here’s a brief report on these unlocks and their market implications.
Altcoins Ready For Massive Token Unlocks
For context, as prices face risk due to a supply increase, crypto market traders and investors might want to liquidate their holdings before these unlocks happen. This could bring further selling pressure to these coins, solidifying their bearish market stance when coupled with the token unlocks. Below are 21 coins that are to face this phenomenon.
Yield Guild Games (YGG)
Currently trading at $0.4838, up 4.41% over the past day, the YGG token is set to witness a cliff unlock of 14.08 million coins, worth $6.78 million. This unlock totals 3.73% of the total circulating supply, posing a significant threat to price. As per data from the Token Unlocks App, the mentioned unlock is set to take place today, July 27, at 2 PM UTC.
The unlock remains much eyed by crypto market participants, as the release of equal or more than 1% of the circulating supply can negatively impact the market dynamics.
Forta (FORT)
Meanwhile, the FORT token is preparing for the release of 50K coins, worth $8.51K, into the market on July 28. This unlock equals a slight 0.01% of the circulating supply.
FORT price traded at $0.170 today, up 1.90% in the past 24 hours. Its daily bottoms and peaks were recorded as $0.1646 and $0.1716, respectively.
SingularityNET (AGIX)
The AGIX crypto prepares for a token unlock of 8.45 million coins, worth $4.68 million, on July 28. This unlock is equivalent to 1.35% of the coin’s total circulating supply.
AGIX price rested at $0.5614, down 0.84% in the past 24 hours. Its daily lows and tops were recorded as $0.5465 and $0.6589, respectively.
Ethena (ENA)
Simultaneously, the ENA crypto prepares to face the unlock of 14.89 million coins, worth $6.81 million, on July 28. This unlock totals 0.87% of the crypto’s circulating supply.
ENA price traded at $0.4567, an increase of 3.46% over the past day. Ethena’s 24-hour bottoms and tops were $0.4359 and $0.4725, respectively.
Portal (PORTAL)
The PORTAL crypto prepares for a linear unlock of 860.44K coins per day for three days starting July 29. This is equivalent to 0.51% of the token’s circulating supply.
Portal price traded at $0.3964 today, up 7.54% in the past 24 hours. Its 24-hour lows and peaks were recorded as $0.3667 and $0.4004, respectively.
Tornado Cash (TORN)
The TORN crypto is all set to experience an unlock of 91.67K coins, equal to 2.41% of the circulating supply, on July 30. The value of this unlock totals $216.33K.
TORN price traded at $2.37 today, down 0.59% in the past 24 hours. Its 24-hour lows and peaks were $2.37 and $2.44, respectively.
Echelon Prime (PRIME)
The Echelon Prime coin will face an unlock of 750K PRIME, worth $5.40 million, on July 31. This is equivalent to 1.75% of the circulating supply.
PRIME price traded at $7.40, down 1.20% over the past day.
Optimism (OP)
The altcoin OP readies for an unlock of 31.34 million coins, worth $52.97 million, on July 31. This equals 2.79% of the coin’s circulating supply.
OP price traded at $1.74, an upswing of 0.58% over the past day.
Pendle (PENDLE)
Meanwhile, a linear unlock of 34.48K PENDLE per day for seven days is set to start on July 31 for the Pendle crypto. Whereas, PENDLE price traded at $3.94, up 0.26% over the past day.
Manta Network (MANTA)
Simultaneously, the MANTA token prepares for an unlock of 1.87 million coins on July 31. This is equal to 0.50% of the coin’s circulating supply, worth $1.69 million.
MANTA price traded at $0.997, an upsurge of 4.41% over the past day.
dydx
The DYDX crypto is set to face an unlock of 8.33 million coins on August 1. This is equivalent to 3.65% of the crypto’s circulating supply, worth $10.25 million.
DYDX price traded at $1.30, up 1.56% over the past day.
Helium (HNT) & GMT
Simultaneously, the HNT and GMT altcoins are set to witness linear unlocks. GMT will experience an unlock of 2.85 million coins per day for 31 days starting August 1. On the other hand, HNT will witness an unlock of 41.10K HNT per day for the next 365 days beginning August 1.
GMT price traded at $0.153, up 3.55%, while HNT price traded at $5.37, a gain of 3.67% over the past day.
Akash Network (AKT)
Simultaneously, the AKT crypto prepares for the linear unlock of 70.29K coins per day for the next 31 days starting August 1. The unlock is worth $218.61K per day.
AKT price traded at $3.28, up 3.14% from yesterday.
ZetaChain (ZETA)
The ZETA token is set to experience the unlock of 53.89 million coins, worth 18.92% of the circulating supply, on August 1. This unlock weighs down equivalent to $33.17 million.
ZETA price traded at $0.648, an upswing of 3.13% over the past day.
Cloud (CLOUD)
The Cloud token will face a linear unlock of 138.89K coins per day for 166 days starting August 1. The unlocks will be worth $38.73K per day.
CLOUD price traded at $0.289, an upswing of 1.75% from yesterday.
Euler (EUL)
The token EUL is to witness a cliff unlock of 49.56K coins on August 1. This unlock equals 0.27% of the coin’s circulating supply, worth $220.06k.
The EUL price traded at $4.53, a decrease of 3.60% over the past day.
Also Read: Peter Schiff Blasts RFK Jr’s Bitcoin Buy Plan As ‘Vote-Buying’ Strategy
Sui (SUI)
Simultaneously, the Sui crypto readies for a cliff unlock of 64.19 million SUI as of August 1. This unlock totals 2.56% of the coin’s circulating supply, worth $48.08 million
SUI price traded at $0.779, an increase of 1.02% over the past day.
Galxe (GAL)
The Galxe coin readies to take the heat of a cliff unlock of 4.17 million GAL as of August 2. This totals 3.52% of the coin’s circulating supply, worth $13.56 million.
GAL price traded at $3.19, a slight 0.31% fall over the past day.
Wormhole (W)
The Wormhole crypto will experience the cliff unlock of a staggering 600 million coins as of August 3. This is equivalent to 33.33% of altcoin’s circulating supply, worth $167.85 million.
W price traded at $0.300, an upswing of 4.59% from yesterday.
Liquity (LQTY)
Lastly, the LQTY token will face an unlock of 489.01k coins on August 4. This totals 0.51% of the total circulating supply, worth $375.07K.
LQTY price traded at $0.796, up 2.29% in the past 24 hours.
Also Read: Mt Gox Bitcoin Creditors Face Withdrawal Restriction On Bitstamp
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.
Altcoin
Dogecoin Code Appears In CyberTruck And Model 3 Website, Will Tesla Accept DOGE Payments For Cars Soon?
Dogecoin enthusiasts recently reignited discussions on the meme coin’s future after an observation shared on the social media platform X. KrissPax, a Dogecoin enthusiast, highlighted a curious detail that showed that DOGE is the only cryptocurrency currently embedded in the payment code for Tesla’s Cybertruck and Model 3 vehicles. Interestingly, this plays into the current bullish sentiment surrounding DOGE and rumors about Tesla’s plans to officially accept DOGE as a payment method.
Dogecoin Code In Tesla’s Payment: A Long-Standing Detail Revisited
The inclusion of Dogecoin in Tesla’s payment infrastructure has been known for some time, but the timing of its renewed focus has drawn attention. Notably, it comes during a notable price correction for the meme cryptocurrency.
Back in October 2023, reports surfaced about mentions of DOGE in the source code of Tesla’s Cybertruck checkout page. Particularly, crypto influencer MartyParty identified over 50 references to Dogecoin within the code.
However, the renewed interest stems from a recent post by Dogecoin enthusiast KrissPax on the social media platform X. He highlighted the presence of a DOGE code in Tesla’s payment systems, stating:
“Just remember, there is Dogecoin in the Cybertruck and Model 3 Tesla payment codes. Not any other crypto – just Dogecoin. Just waiting for Tesla to turn this option on!”
Although Tesla’s Cybertruck has since been launched, this year, the DOGE payment feature has not yet been activated. Nonetheless, its presence in the code suggests that Tesla is keeping the door open to allow DOGE transactions in the future.
What Does This Mean For DOGE?
Tesla CEO Elon Musk has long been a vocal supporter of Dogecoin, often relaying its use for everyday transactions. His enthusiasm for DOGE has been evident through numerous public endorsements, including Tesla’s decision in January 2022 to start accepting DOGE as payment for select merchandise. This endeavor created some sort of utility for DOGE, which is known for its meme status.
However, a final integration of DOGE as a payment method for Tesla cars would be the final straw in the electric vehicle maker’s creation of utility for the meme coin. A move of such magnitude would not only improve Dogecoin’s adoption but also open it up to another path of inflows, which would in turn benefit its price growth. Furthermore, other companies could follow in the footsteps of Tesla and make DOGE a payment method.
Interestingly, such a move would not be the first time Tesla accepted crypto payments for its vehicles. Back in 2021, Tesla started allowing customers to use Bitcoin as a form of payment. However, the initiative was short-lived, as Tesla discontinued Bitcoin payments just months later due to environmental concerns over the growing energy consumption of Bitcoin mining and transactions.
At the time of writing, the Dogecoin price is trading at $0.3842, down by 0.92 and 1.69% in the past 24 hours and seven days, respectively.
Featured image created with Dall.E, chart from Tradingview.com
Altcoin
5 Key Indicators To Watch For Ethereum Price Rally To $10K
The Ethereum price has surged more than 7% recently, with recent indicators hinting towards a potential ETH rally to $10K ahead. Notably, the recent surge also indicates a bullish momentum for the crypto ahead. So, here we explore some of the top indicators that could propel an ETH price surge ahead.
5 Indicators To Watch For Ethereum Price Rally Ahead
A recent X post from top on-chain analytics platform IntoTheBlock highlighted that Ethereum often follows Bitcoin’s rallies. While mixed signals exist, certain metrics suggest optimism. The platform noted that whales continue accumulating ETH, indicating confidence in the asset’s long-term growth. Increased transaction volumes and minimal selling pressure from holders are also contributing to Ethereum’s positive outlook.
In addition, one critical indicator is daily transactions, which recently rose to 1.22 million from 1.1 million three months ago. This slight uptick reflects growing network activity and rising demand for Ethereum.
Another key metric is large holder netflow, which tracks the buying activity of whales. When whales accumulate, it reduces sell-side pressure and supports price appreciation. Short-term holder behavior also warrants attention.
Meanwhile, increased activity among short-term investors often aligns with heightened retail interest. The holding time of transacted coins is another bullish sign. A steady hold time suggests that long-term investors are retaining their assets, keeping supply constrained as demand grows.
Lastly, exchange flows reveal sentiment trends. Significant outflows from exchanges typically indicate accumulation, signaling confidence among investors.
ETH Rally To $10K Imminent?
ETH price today was up nearly 8% and exchanged hands at $3,343, while its one-day trading volume rocketed 61% to $45.19 billion. In addition, Ethereum Futures Open Interest also rose more than 13%, indicating a strong market confidence towards the crypto.
Amid this, a top crypto market expert predicts ETH price to hit $10K in the coming days, sparking market speculations. However, despite that, a recent Ethereum price analysis hints that the top altcoin should soar past the $4K mark, before its further rally.
Having said that, a flurry of crypto market experts anticipates the crypto to continue its rally in the coming days. In addition, as BTC hits a new ATH recently, the market pundits expect the altcoins to follow suit, especially amid soaring optimism towards a clear regulatory path after Donald Trump’s election win.
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.
Altcoin
Agency Reiterates “Digital Assets Securities” As XRP Eyes $2
Ripple SEC Lawsuit: The US Securities and Exchange Commission (SEC) hinted at “digital asset securities” claims amid the appeal in the Second Circuit Court. The move comes as XRP price surpassed $1 and expected a rally to $2 on Gary Gensler’s resignation and the end of XRP lawsuit during Donald Trump’s presidency.
US SEC Hints At Digital Asset Securities Claims In Ripple Lawsuit
In a PLI’s 56th Annual Institute speech last week, SEC Chair Gary Gensler reiterated “Bitcoin is not a security.” He also cleared the intention to continue considering XRP as security as he didn’t mention it along with “Bitcoin, ether, and stablecoins.”
“Our focus, rather, has been on some of the 10,000 or so other digital assets, many of which courts have ruled were offered or sold as securities. Putting this in context, aside from bitcoin, ether, and stablecoins, the rest of this market approximates $600 billion.”
Crypto lawyer James Murphy, also known as MetaLawMan slammed the US SEC for using the term “digital asset securities” again in an X post on Wednesday. Gensler and the SEC disregarded the court’s order on XRP security status in the Ripple SEC Lawsuit. This indicates that the agency failed to comply with its recent apology for using the term “crypto asset securities” in lawsuits.
Here we go again “digital asset securities.”
Unbelievable. https://t.co/vqCbEJ9PNh— MetaLawMan (@MetaLawMan) November 20, 2024
The regulator appealed the summary judgment on XRP sales by Ripple, XRP distribution to employees and others by the company, and XRP sales on exchanges by CEO Brad Garlinghouse and Executive Chairman Chris Larsen. However, the recent crypto narratives amid President-elect Trump has sparked speculation of the end of SEC v Ripple lawsuit.
Will XRP Lawsuit Get Dismissed?
The crypto community called for the dismissal of the long-running Ripple SEC lawsuit and resignation of SEC Chair Gary Gensler. Also, Ripple CEO Brad Garlinghouse said he is expecting a resolution or end of the SEC lawsuit after Trump’s win.
Ripple CTO David Schwartz cleared that the company is legally obligated to Ripple shareholders and not XRP holders. While Ripple can work around legal clarity around XRP and digital assets, the prices of digital assets don’t depend on the efforts of the company. Schwartz and lawyers assert XRP lawsuit will likely get dismissed or settled with $125 million.
Meanwhile, lawyer Bill Morgan asserted that the price of XRP is not influenced by Ripple’s efforts as seen by long-term investors. Notably, Gensler’s hint at resignation and the potential end of Ripple SEC lawsuit triggered an XRP price rally to $1.
XRP Price Rally to $2
XRP price is currently holding at 0.702 Fib retracement level. Any strong upside momentum can trigger the next move to the $1.6–$2. The strong sentiment in the XRP community and Trump’s crypto policies will maintain bullishness in the crypto market.
Popular analyst CredibleCrypto suggests XRP will probably going to make new ATH “a lot quicker than most are expecting.” XRP/ETH just reclaimed and retested a 4-year long-range in the monthly chart, which signals a 250% higher target. He predicted a target of $2.
XRP price jumped over 1% in the past 24 hours and 60% in a week, with the price currently trading at $1.13. The 24-hour low and high are $1.07 and $1.15, respectively. Furthermore, the trading volume has increased by 7% in the last 24 hours, indicating a rise in interest among traders.
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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