- Tokenomics insights platform Token Unlocks shared that more than $27.5 million worth of crypto will be unlocked this week.
- Notably, ARKM and AXS will see 150 million tokens and $21.8 million worth of tokens unlocked, respectively.
- Other altcoins will see a combined unlock of over $5.5 million in tokens.
The tokenomics insights page Token Unlocks noted in a tweet published earlier today that there will be more than $27.5 million worth of tokens unlocked this week. This week, there are several token unlocks scheduled, which could potentially affect the supply and prices of the respective tokens. The largest unlocks are expected for ARKM and AXS, with approximately 150 million ARKM and $21.8 million worth of AXS becoming available in the upcoming days.
In addition to ARKM and AXS, other tokens such as Space ID (ID) and X2Y2 will have $4 million and $0.98 million worth of tokens unlocked, respectively. Euler (EUL), Cartesi (CTSI), and 1INCH will also experience unlocks of $0.36 million, $0.24 million, and $0.19 million, respectively.
ARKM and AXS are the highlights, as ARKM will witness 15% and AXS will witness 3% of its circulating supply token unlocked. Additionally, ID will witness 5.3%. EUL 0.8%, CTSI 0.2%, and 1INCH will have 0.04% of their circulating supply unlocked.
Investors may decide to sell some or all of their holdings as these tokens become accessible, which could potentially have a negative impact on their prices. It’s important for market participants in the crypto space to stay informed about news events, as the prices of these tokens often exhibit a rally in the weeks leading up to the token unlocks.
According to CoinMarketCap data, AXS is trading at $6.27 with no major price movement over the last 24 hours. ID is trading at $0.2725, while X2Y2 is trading at $0.02575 with a 2% spike in value over the last 24 hours.
The notable token in the list is 1INCH. The token is trading at $0.4511 with a 6% gain in value over the last 24 hours. The daily trading volume has also shot up by over 200%.
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