Seven Altcoins, Including Arbitrum and Axie Infinity, Brace for Token Unlocks: Potential Market Impact Ahead

The cryptocurrency market is bracing for a turbulent phase as several Altcoins are poised for significant token unlocks, which could lead to considerable price volatility. This imminent event has sparked a wave of apprehension among investors, as the increased supply of tokens typically exerts downward pressure on their value. The phenomenon of token unlocking is a scheduled event where previously locked tokens are released into circulation, potentially diluting the value of existing tokens.

Among the cryptocurrencies facing this pivotal moment are Arbitrum (ARB), Starknet (STRK), Axie Infinity (AXS), ApeCoin (APE), Pixels (PIXEL), Manta Network (MANTA), and Cyber (CYBER). These tokens are on the cusp of unlocking a substantial number of coins into the market, an event that historically has been met with bearish sentiment by the investing community.

Arbitrum, a layer-2 scaling solution for ethereum, is about to release approximately 92.85 million ARB tokens, valued at around $65.85 million, which constitutes roughly 2.91% of its circulating supply. This event, scheduled for July 16, is eyed warily by market participants, as such a significant release could potentially impact the ARB token’s price trajectory negatively.

Similarly, Starknet, another promising player in the scaling solutions domain, is preparing for an unlock of 64 million STRK tokens, with an estimated worth of $36.87 million, representing about 4.97% of its circulating supply. This unlock, slated for July 15, adds another layer of uncertainty to the STRK’s price outlook.

The popular blockchain-based game, Axie Infinity, is not immune to this trend, expecting an unlock of 2.5 million AXS tokens, valued at approximately $13.85 million. This unlock, which accounts for 1.71% of its total circulating supply, is scheduled for July 16 and is anticipated to exert additional pressure on the AXS price.

ApeCoin, associated with the widely popular Bored Ape Yacht Club, is also on the radar with an impending unlock of 15.65 million APE tokens, worth about $11.61 million, set to increase its circulating supply by 2.36%. This event, happening on July 17, could influence APE’s market position.

In the gaming crypto sector, Pixels is bracing for an unlock of 54.43 million PIXEL, equating to $10.47 million, on July 19. This significant increment, amounting to 7.1% of its circulating supply, could sway PIXEL’s market sentiment.

Manta Network, aiming to offer privacy-preserving blockchain solutions, is expected to unlock 6.71 million MANTA tokens, valued at $5.84 million, which represents 2.02% of its circulating supply, on July 18. Such a move could impact MANTA’s price dynamics in the short term.

Lastly, Cyber, a lesser-known altcoin, is gearing up for an unlock of 886.52K tokens, with an approximate value of $3.85 million, constituting 3.86% of its total circulating supply on July 15. This unlock could potentially affect CYBER’s market valuation.

These upcoming token unlocks are a critical moment for the aforementioned cryptocurrencies, as they could significantly affect their market supply and, consequently, their price. Investors and traders are closely monitoring these developments, as the increased supply could lead to price dips, offering potential buying opportunities for some while presenting risks for others.

The cryptocurrency market is known for its volatility, and events such as token unlocks add layers of complexity to the investment landscape. Market participants are advised to conduct thorough research and apply caution, considering the potential for these unlocks to influence token prices negatively. As always, the future remains uncertain, and the actual impact of these unlocks will unfold in time, marking yet another chapter in the ever-evolving story of the cryptocurrency market.