Things are heating up in these 10 altcoins: Selloffs may increase!
Bitcoin(BTC) has surpassed $64,000, but upcoming developments in some projects have raised eyebrows.
A good start to the week Bitcoinpainted the altcoin market green. Altcoins, which have been in a downtrend in recent days, started their upward movement by finding strength from BTC’s move. However, the recent developments of some projects bring the possibility of creating selling pressure on the pair. So which are these projects?
1- Pendle (PENDLE)
On May 8th, we will open the locker PENDLEwill launch 39,370 tokens (200,000 dollars). PENDLE, which is among the popular coins of the last period, has aroused curiosity about the impact of the unlocking. The $5 band seems to be decisive for PENDLE.
2- GMX (GMX)
Silent for a while GMXwill go unlocking on May 9th. With the launch of 403 GMX ($10,420), no significant selling pressure is expected in the pair. GMX traders continue to keep a close eye on regular unlocks.
3- Euler (EUL)
Less known than other projects EULwill unlock 67,940 tokens ($387,920) on May 9. EUL, which does not pose a selling threat due to its relatively small amount, does not seem to exhibit volatile price movements.
4- 1inch (1INCH)
Performing regular unlocking 1INCHwill add 15,000 tokens ($5,820) to the market on May 10. Although the amount of tokens to be unlocked is small, 1INCH’s signing of this development at regular intervals can sometimes cause uneasiness in its investors.
5- Moonbeam (GLMR)
3.04 million on May 11 GLMR(923,370) dollars, Moonbeam has created fear in investors due to a possible decline. GLMR, which is below other projects in terms of market capitalization, may see selling pressure if it cannot maintain the $0.30 band as support.
6- Aptos (APT)
He was the one who couldn’t deliver what was expected APT, shook the agenda with the opening of the lock. The circulation of 11.31 million APTs ($103.15 million) on May 12 may start a selling trend in the pair. The fact that Aptos has not yet demonstrated a successful ecosystem may increase the severity of a possible selling wave.
7- dYdX (DYDX)
Another project that performs regular unlocking dYdXwill unlock 2.12 million tokens ($4.58 million) on May 14. These tokens, which are a small amount compared to the market capitalization, may not create a big change in the pair. However, a possible pullback in BTC could hit DYDX and increase sell trades.
8- Starknet (STRK)
Airdrop which crypto investors distanced themselves from after the disaster STRKwill add 64 million tokens ($85.76 million) to the market on May 15. STRK, which has been struggling with selling pressure in normal time, may test even lower levels with this development.
9- CyberConnect (CYBER)
A period that took the sector by storm CYBERis now on the agenda with the unlocking. CyberConnect, which will unlock 886,120 CYBER ($7.66 million) on May 15, has confused the investor community. Especially the next price movements of CYBER, which created a danger in the futures market, aroused curiosity.
10- Arbitrum (ARB)
Seen among the favorite projects of the Turkish crypto ecosystem Arbitrumwill release 92.65 million ARB ($98.39 million) on May 16. The popular coin, which has frustrated its ecosystem and investors with its recent decline, is struggling critically at the $1 band. A downward break of this level could trigger a new wave of selling in ARB.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk and readers should do their own research when making decisions.