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Time to sell: analyst points to cryptocurrencies ready for declines
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THE cryptocurrency market is preparing for a wave of token releases with unlocks that could impact several altcoins. It is estimated that around US$ 4 billion in altcoins will be available for trading in the coming weeks, including big names like Sui (SUI), Optimism (OP) and Apartments (APT).
While these unlocks may generate buying opportunities for some investors, one analyst warns that Certain altcoins may face significant declines.
The first big name on the list is Sui Networka blockchain Layer-1 focused on scalability and applications aimed at developers. On January 1, 2025, the protocol released 64.19 million SUI tokensrepresenting 2.13% of circulating supply and valued at approximately US$ 267 million.
Lawrence analyst Mike Woriji believes that although the SUI has shown signs of recovery recently, the release of tokens could put pressure on the price, resulting in a moderate fall.
Sui Network
Even so, with a Total Value Locked (TVL) robust of US$ 1.662 billion, the network shows signs of long term growth.
Movement Labsa network that uses the programming language Moveis also preparing for a major unlocking of 50 million MOVE tokens on January 9th.
Although it has experienced an increase in 30% in the last 30 daysthe price fell 15% in the last weekwhich could be a sign that the MOVE this vulnerable to a substantial decline after unlocking.
The lack of clarity about the impact of this release makes investors cautious, especially considering the network’s strong focus on expansion and collaboration.
Another token on the radar is Aptos (APT)which on January 11, 2025, will release 11.31 million tokens ($104 million) of its circulating supply. THE Apartments already faced 30% drop in the last 30 daysand the expectation is that the unlocking will further accentuate this pressure.
Historically, previous unlocks have generated fluctuations in cryptocurrency priceslike the drop of 13.4% in November. With the altcoin market facing difficulties, the trend of sharp drop after unlocking the $APT is high, which makes the moment ripe for sell before release.
Time to sell: analyst points to cryptocurrencies ready for declines
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Time to sell: analyst points to cryptocurrencies ready for declines
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Time to sell: analyst points to cryptocurrencies ready for declines
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Time to sell: analyst points to cryptocurrencies ready for declines
