The altcoin market is currently facing a period of uncertainty, with major altcoins seeing declines in their value. Analyst Altcoin Buzz has suggested that this trend may continue due to the upcoming release of over $750 million worth of tokens by more than 40 projects in the crypto space. This influx of tokens could result in significant sell-offs, causing further price drops for these altcoins. Here is a list of altcoins that investors may want to avoid:
Aptos (APT)
Aptos is a recurring project that is scheduled to unlock 11.31 million APT tokens on July 12th, valued at $77 million. This release represents 2.59% of the project’s circulating supply and is allocated to the foundation, community, core contributors, and investors. Despite its aim to provide faster transaction speeds and lower costs, Aptos has seen a decline in price from $14 to below $6 in the past three months. The upcoming unlock may continue to exert downward pressure on its price.
Arbitrum (ARB)
Arbitrum is a layer-two scaling solution for Ethereum that has already released $95 million in May and $105 million in June. On July 16th, an additional $75 million worth of tokens will be released for the team, advisors, and investors. The price of ARB has dropped significantly from its all-time high of $2.27 to around $0.63 since March.
AltLayer (ALT)
AltLayer, a decentralized protocol, is set to unlock 684 million ALT tokens valued at approximately $125 million on July 25th. These tokens will be distributed to the team, investors, advisors, protocol development, treasury, ecosystem, and community. The price of ALT has also seen a significant decline, and the upcoming unlock is expected to further impact its price negatively.
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