The dynamic world of cryptocurrencies braces for yet another paradigm shift in prices of specific tokens as massive token unlocks loom over the horizon.
Token unlocks refers to a phenomenon that ensures the release of previously locked tokens into the market, ramping up the supply. This stages as a potentially bearish event, prompting traders to steer clear of trading certain cryptos.
Over the next week, $182.20 million worth of tokens are set to be unlocked. Here’s a brief overview of eight cryptocurrencies poised to take the heat of this event.
Arbitrum (ARB)
Trading at $0.9227, down 2.99% over the past day, ARB remains at the top of the list, poised to witness token unlocks worth $86.23 million. Data from the Token Unlocks App shows that 96.13 million ARB, equivalent to 3.32% of the circulation supply, will be unlocked on June 16. This has caused speculations over a potential waning price trajectory for ARB ahead.
Space ID (ID)
Meanwhile, ID traded at $0.5654, down 4.15% over the
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