Watch Out for Those 14 Altcoins This Week: There Are Unlocks!

After a week of high volatility in the cryptocurrency market, investors are now preparing for a potential period of stability where several altcoin projects are poised to unlock the tokens in the near future. Here are the details…
There are critical unlock dates for these altcoin projects
One of the major altcoins in focus is Near (NEAR), which has a market cap of $1.05 billion. NEAR will unlock $8.69 million, 0.82% of market capitalization, at 3:00 am on September 4, 2023. This event attracted attention as it could affect the liquidity and trading dynamics of NEAR. Similarly, WazirX (WRX) with a market cap of $37.08 million will unlock $2.91 million, which is 7.86% of its market cap. This unlocking process is also set at 03:00 on September 4, 2023.
Moving on, Vega Protocol (VEGA) will unlock $1.14 million at 8:00 AM on September 5, 2023, representing 1.55% of the $73.98 million market cap. Meanwhile, Galxe (GAL) will unlock $2.36 million in the same hour, or 4.56% of the $51.80 million market cap. The next day, on September 6, 2023, at 03:00, Talken (TALK), with a market cap of $17.29 million, will unlock $1.04 million, which is 5.92% of the market cap. Tokocrypto (TKO), which has a market cap of $35.72 million, will unlock $2.70 million, representing 7.56% of the total market cap, at 03:00 on September 7, 2023. Simultaneously, Bloktopia (BLOK) will unlock $5.13 million, but its market cap was not specified.
The rest of the week is full of unlocks.
Another notable unlock was Magic Shoes (MCT) on September 7, 2023 at 03:00, and the altcoin unlock amount was $1.05 million. However, the market value has not been disclosed. As the week progresses, KAP Games (KAP) is expected to unlock $1.08 million, accounting for 18.75% of its $5.77 million market cap at 03:00 on September 8, 2023. Additionally, Hypercycle (HYPC) will launch $8.15 million tokens, though the market cap has not been specified.
Towards the end of the week, on September 9, 2023, at 09:00, STEPN (GMT) will unlock $13.57 million, which is 7.97% of the $170.12 million market cap. On September 10, 2023, at 03:00, Aleph Zero (AZERO) with a market cap of $209.37 million will unlock $1.31 million, which is 0.62% of its market cap. Similarly, Sipher (SIPHER) with a market cap of $4.91 million will unlock $1.01 million, representing 20.64% of its market cap. Finally, ChainGPT (CGPT), which has a market cap of $6.42 million, will issue $2.12 million of tokens at 18:00 on September 10, 2023, accounting for 33.09% of the market cap.
What do lock openings mean?
As we reported, these planned token unlocks represent an important event for each of these altcoins. Investors are watching closely how these releases affect prices and overall market sentiment. Unlocking tokens risks increasing liquidity and trading activity. But it also creates selling pressure if altcoin holders decide to liquidate their holdings. It is important to note that the percentage of unlocked tokens varies widely between these altcoins. Some, like ChainGPT (CGPT), are seeing a significant portion of their total supply being released, which could have a more significant impact on the market.
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