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Elena R
Elena R
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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 09, 2024 06:33 UTC
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Crypto Bull Run Ahead? $750M Altcoin Unlocks Set to Shake the Market
Increased trading volume and whale interest suggest a potential altcoin bull rally, with XRP, SOL, ADA, and DOGE leading.
Significant cliff-unlocks from projects like Cheelee, Aptos, and Connex this week could impact prices. Significant cliff-unlocks from projects like Cheelee, Aptos, and Connex this week could impact prices.
Experts advise traders to prioritize altcoins with strong fundamentals, deflationary features, and low dilution.
The altcoin market is gearing up for a potential bull rally after months of consolidation. Recent weeks have seen a surge in trading volumes, driven by whale investors shifting focus from Bitcoin (BTC) to prominent altcoins like Ripple’s XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE).
While the excitement builds, crypto experts urge caution. With thousands of projects in the ecosystem, traders must prioritize altcoins with strong fundamentals to avoid losses or holding underperforming tokens during the anticipated altseason.
Key Altcoin Unlocks Ahead
Market data from Tokenomist reveals that several altcoin projects are set for significant token unlocks totaling $750.63 million in the coming week. Here’s a closer look at the key releases:
- Cheelee (CHEEL): This SocialFi project on the BNB Chain, with a fully diluted valuation of $9.5 billion, will unlock 20.8 million tokens worth $234 million on December 13, 2024.
- Aptos (APT): The Aptos network plans to release 11.3 million tokens, valued at $158 million and representing 2.11% of its total supply, on December 11.
- Connex (CONX): Connex will unlock 4.3 million tokens worth $141 million—376% of its current circulating supply—on December 15.
Other notable releases include:
- Starknet (STRK): $47 million
- Cardano (ADA): $43 million
- Sei (SEI): $36 million
- Polyhedra Network (ZKJ): $30 million
On a daily basis, Worldcoin (WLD) leads with $19.36 million worth of tokens being unlocked, followed closely by Solana (SOL) at $17.39 million per day. These consistent releases may contribute to fluctuations in token prices.
The Bears Will Return!
Projects with significant token dilution in the near term are likely to experience bearish sentiment. Meanwhile, FOMO (fear of missing out) is drawing traders toward altcoins with solid fundamentals, particularly those featuring deflationary mechanisms that support long-term value.
As the altcoin market braces for a potentially explosive period, traders should closely monitor projects with large upcoming token unlocks and robust fundamentals. The ability to identify strong performers could be the key to making the most of this altseason while minimizing risks.
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FAQs
Today’s cryptocurrency market witnessed a slight dip over the last 24 hours, with the total market capitalization declining by 0.58% to $3.64 trillion
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