Three cryptocurrencies will unlock over $150 million in tokens this week, which cryptocurrency traders should avoid having substantial exposure to. These unlocks have the potential to flood the market, leading to increased selling pressure and significant price fluctuations.
On June 15, Finbold retrieved data from the TokenUnlocks.app, which shows $181.35 million in the seven-day cliff unlocks. Notably, this week’s three leading protocols will release $149.48 million in tokens, accounting for 82% of the total. Nine projects make up the “next seven days cliff unlocks.”
Cliff Unlocks Next 7D. Source: TokenUnlocks.app
MEME token unlocks on June 16. Source: TokenUnlocks.App
Avoid trading Space ID (ID) and Pixel (PIXEL)
Finally, Space ID (ID) and Pixel (PIXEL) make for the second and third-largest cryptocurrency unlocks this week.
Vesting contracts will release 78.49 million ID on June 22, worth $44.45 million. This will inflate Space ID’s supply by 18.2%, being the most substantial token unlock this week. Moreover, 54.37 million PIXEL will enter the market on June 19, inflating the project’s supply by 7% at a $19.66 million valuation.
However, crypto traders will try to speculate on the economic effects these unlocks and sell-offs may have on price, which could bring increased volatility and worsen the potential risk-reward ratio. The market is uncertain and influenced by multiple factors, requiring proper risk management and learning when to avoid trading specific cryptocurrencies.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
