Crypto Updates

Almost $1B In Altcoins Set To Flood The Market This February: Here Are The Key Ones

SUI token unlock.

February 2024 is a pivotal month, with nearly $1 billion in altcoins set to unlock. This phenomenon, crucial for investors and newcomers alike, signifies the release of previously restricted altcoins into the market, influencing supply and demand dynamics.

Alex Wacy, a renowned decentralized finance (DeFi) research specialist, has highlighted this significant event, emphasizing its impact on some of the notable altcoins among this February unlock.

Altcoins Unleash: The February Token Unlocks

February’s token unlocks encompass a diverse range of projects. Key players such as Aptos (APT), Immutable (IMX), Sui (SUI), Sei Network (SEI), and Oasis Network (ROSE) are at the forefront of this movement.

Aptos is set for a substantial release on February 12, with roughly $230 million worth of tokens poised for circulation. Despite previous unlocks, APT’s price has remained relatively stable.

Aptos (APT) token unlock.

Similarly, IMX and SUI are preparing for significant unlocks on February 23 and February 3, respectively. IMX’s unlock is valued at around $70 million, while SUI’s, worth $100 million, is particularly noteworthy as it marks its inaugural annual unlock.

SEI and ROSE are also partaking in February’s unlock, with SEI releasing $85 million worth of tokens on February 15 and ROSE’s $19 million unlock scheduled for February 18. These events come when both projects have shown modest gains in the market.

Market Performance Analysis Of Unlocked Tokens

Amid the anticipation of these altcoins unlock, SUI, IMX, and Aptos have experienced notable surges in their values, increasing by 27.3%, 10.6%, and 9.7%, respectively, over the past week. However, the last 24 hours have seen varied movements, with SUI facing a 6.4% decline, Aptos slightly up by 0.7%, and IMX reducing by a mere 0.1%.

SEI and ROSE, on the other hand, have witnessed less dramatic shifts. SEI saw a 6.4% increase over the week, while ROSE gained 5.4%. However, their 24-hour performance has diverged, with SEI dropping nearly 10% and ROSE decreasing by a marginal 0.2%.

These market performances reflect the broader crypto market trajectory, which has recently…

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