8 Cryptocurrencies Set to Drop Major Token Unlocks Approach

The cryptocurrency market is on edge as upcoming token unlocks threaten to increase supply and drive prices down. Here are eight cryptocurrencies you might want to avoid trading this week:

Arbitrum (ARB)
Currently trading at $0.9227, ARB will unlock $86.23 million worth of tokens on June 16, impacting 3.32% of its circulating supply.

Space ID (ID)
ID, trading at $0.5654, faces a $44.37 million token unlock on June 22, affecting 18.23% of its circulating supply.

Pixels (PIXEL)
PIXEL, now at $0.3621, will unlock $19.65 million worth of tokens on June 19, impacting 7.05% of its supply.

ApeCoin (APE)
APE, priced at $1.05, is set to unlock $16.35 million worth of tokens on June 17, affecting 2.48% of its supply.

Manta Network (MANTA
MANTA, trading at $1.27, will unlock $10.8 million worth of tokens on June 18, impacting 2.42% of its supply.

Render (RNDR)
RNDR, priced at $8.05, faces a $6.12 million token unlock on June 16, affecting 0.20% of its supply.

NYM Coin
NYM, trading at $0.1366, will unlock 2.96 million tokens on June 17, impacting 0.37% of its supply.

Euler (EUL)
EUL will unlock 88.98K tokens worth $386.16K on June 19, affecting 0.48% of its supply.

Historically, token unlocks exceeding 1% of the circulating supply have led to significant price declines. As these events approach, traders are closely monitoring these cryptocurrencies for potentialĀ priceĀ drops

Right now, 90% of people who invested in altcoins (other cryptocurrencies besides Bitcoin) are losing a lot of money. Many of these investors have lost hope that their investments will grow and expect prices to drop even more, especially for altcoins.

Most analysts and traders believe that the market will turn around quickly and start to rise again. But often, when everyone expects one thing, the opposite happens.
I think the prices will drop more before they go up again and we see a strong increase in altcoin values. The turnaround can happen quickly, so we need to be ready.

People often ask how much lower the prices can go. The truth is, there’s no clear bottom. Prices can keep dropping again and again. The market goes through cycles, so it’s important not to invest all your money at once. You may get many chances to buy at lower prices before the market grows.

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