The altcoin market is poised for pivotal activity with $208.53 million worth of tokens set to be unlocked and distributed across various altcoins in the coming week. Token unlock events are known to significantly influence the market dynamics and prices of the affected altcoins, and this upcoming wave of releases is no exception.
Near Protocol’s Upcoming Unlock
Near Protocol is leading the way with a token release planned within the next five hours. Currently valued at $6.34 and holding a market cap of $7 billion, NEAR has 94.70% of its total supply already in circulation. This vesting event will add 254,683 NEAR tokens to the market, contributing an additional 0.03% to the supply. The systematic unlocking process spans 48 months, and investors have already received 88.55% of the locked tokens, with the final round slated for October 12, 2025.
What Will XPLA’s Unlock Mean?
XPLA is set to release a significant portion of its tokens within the next five hours. With a market cap of $77.16 million and trading at $0.1244, the upcoming unlock will add 18.74 million XPLA tokens, increasing the circulating supply by 0.94%. So far, 80.75% of the locked tokens have been unlocked, with the final unlocking event scheduled for December 21, 2026.
MintLayer, launched in March 2023, has just 10.70% of its total supply in circulation. With a current market cap of $9.67 million and trading at $0.15, MintLayer will unlock 1.12% of its supply monthly until February 2025, followed by 0.35% monthly releases until December 2025. Currently, 17.51% of MintLayer’s supply remains locked for long-term vesting.
Implications for Other Altcoins
Besides Near Protocol, XPLA, and MintLayer, other altcoins like Safe (SAFE), Altlayer (ALT), Forgotten Playland (FP), SPACE ID (ID), and Bonfida (FIDA) are also scheduled for token unlocks. A total of 26 altcoins will release tokens worth $208.53 million into the market. Investors need to stay vigilant as these unlocks can impact the prices and market conditions of the respective altcoins.
Investment Strategies to Consider
Investors should consider the following strategies in light of the token unlock events:
- Monitor token unlock schedules to anticipate market movements.
- Evaluate the potential for price drops as newly unlocked tokens enter circulation.
- Consider reinvesting in altcoins offering staking features for yield rewards.
- Be prepared to sell newly unlocked tokens to capitalize on profits or minimize losses.
- Explore opportunities in other promising altcoins based on market performance.
Understanding these strategies can help investors navigate the market dynamics influenced by the token unlocks.
In conclusion, the impending token unlocks across multiple altcoins present both opportunities and challenges for investors. Staying informed and employing strategic investment decisions can mitigate risks and capitalize on the market shifts brought about by these events.