ALT, WLD, ENA, ID set for $200 million token unlocks next week
|- The circulating supply of ALT, WLD and ID will see a hike next week, with over $200 million unlocks in sight.
- All tokens involved in upcoming unlocks are up in the past 24 hours.
- ALT will see the highest unlock share, with $115 million worth of new tokens entering circulation.
The crypto market is set to experience another wave of token unlocks next week, with Altlayer (ALT), Worldcoin (WLD), Ethena (ENA), and Space ID (ID) set for a combined token unlock worth about $200 million.
Crypto market to see another round of heavy token unlocks
Starting on Sunday, several crypto projects will inject new tokens into their circulating supply. Some cryptocurrencies that will experience the first round of unlocks next week include FORT, GALA, and ENA, unlocking $449.03K, $438.31K and $7.27 million worth of new tokens, respectively.
Token unlocks often cause increased volatility and may negatively affect the prices of affected cryptocurrencies.
ALT, WLD, and ID will also conduct individual unlock events later in the week. ALT will see the highest share of unlocks, adding $115 million to its circulating supply. WLD token follows behind with $80 million worth of its tokens and ID with $8.89 million. Together with ENA, all four cryptocurrencies will unlock over $200 million worth of new tokens next week.
Worldcoin has been the subject of criticism during the week following the extension of its unlock schedule. ARB released over $70 million worth of its token into circulation earlier this week.
Interestingly, the price of all tokens set for next week's unlock has increased over the past 24 hours, with ALT seeing the highest gains — over 12%.
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