The post Arbitrum Leads Token Unlock Frenzy: Over $230 Million Set to Impact Crypto Market appeared on BitcoinEthereumNews.com.

Cryptocurrency markets have entered a new phase, causing concern among investors. Approximately $230 million worth of locked tokens are set to be released next week, potentially increasing market volatility. The release of this significant amount of tokens could exacerbate selling pressure, especially following recent sharp declines. Expected token unlocks next week could lead to increased market volatility, with substantial impacts on Sandbox (SAND), Aptos (APT), and Arbitrum (ARB). Major Token Unlocks: Sandbox, Aptos, and Arbitrum in Focus According to data from TokenUnlocks, 14 different cryptocurrencies will see a total of $229.77 million worth of token unlocks this week. Notably, Sandbox (SAND), Aptos (APT), and Arbitrum (ARB) will collectively unlock $174.96 million worth of tokens. Sandbox, in particular, will unlock tokens worth approximately $205.59 million, accounting for about 9% of its market capitalization, on August 14. This significant influx could dilute the market and put downward pressure on SAND’s price. Aptos: Routine Unlocks Contributing to Inflation Aptos (APT) will unlock $11.31 million worth of tokens on August 12, increasing its supply by 2.4%. These regular token unlocks contribute to higher inflation rates. Despite experiencing a 4.04% increase in the last 24 hours and boasting a market value of $2.91 billion, the impending unlock of approximately $69.9 million worth of tokens is likely to heighten supply-side pressures. Arbitrum: Volatility Concerns Amid Upcoming Unlock Arbitrum (ARB) is set to unlock $53.05 million worth of tokens on August 16, potentially increasing monthly inflation rates to 2.8%. Investors are growing anxious due to recent declines in ARB’s value, and the upcoming token unlock has heightened concerns about increased volatility and potential price drops. Currently valued at $1.97 billion with a 2.02% rise in the last 24 hours, ARB’s future market behavior is under close scrutiny. Market Overview and Other Noteworthy Movements The broader cryptocurrency market…

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Filed under: News - @ August 11, 2024 11:22 am