Will YFI, CYBER, STRK Unlocks Spark Similar Sell-Offs?

• YFI’s momentum was bearish, suggesting a decline to $8,089 in the short term.
• CYBER  might retest $14 if the token hits the oversold region.
• With low volatility, STRK could drop as low as $1.78.

Aptos’ (APT) reaction to its latest token unlock could spell doom for other projects in the same boat, Coin Edition can confirm. A few hours ago, the project released about 25 million previously-locked tokens into circulation.

Historically, events like this have made it difficult for demand to outweigh supply. As such, prices crash. But sometimes, the opposite happens, and it has occurred in the past with APT. However, such was the case this time. 

At press time, APT’s price had lost 3.64% of its value in the last 24 hours. With this development, will tokens including yearn.finance (YFI), CyberConnect (CYBER), and StarkNet (STRK) face a similar fate, as they also have unlocks coming?

yearn.finance (YFI)

According to Token Unlocks, the project would release 33,290 tokens on April 13. This is a small number compared to its previous unlocks. At press time, YFI’s price was $8,365, representing a 0.26% decrease in the last 24 hours.

From the 4-hour chart, YFI might slip below this value as the RSI showed downward momentum. However, the Average Directional Index (ADX) also turned southward, indicating that a plunge could be next for the token. If this is the case up until the unlock, YFI might drop to $8,089.

YFI/USD 4-Hour Chart (Source: TradingView)

CyberConnect (CYBER)

CYBER’s upcoming unlock is worth $11.64 million, representing 5.98% of its total supply. However, the price of the token had decreased by 5.07% in the last 24 hours, suggesting that it could follow in APT’s footsteps.

From a technical perspective, CYBER was close to being oversold, as shown by the RSI. Should the RSI reading continue to drop, so will CYBER’s price. But if the reading hits 30.00 before the unlock, the token might bounce and retest $14.

Like the RSI, the Money Flow Index (MFI) also indicated closeness to the oversold zone, suggesting that the cryptocurrency could reverse upward soon.

CYBER/USD 4-Hour Chart (Source: TradingView)

StarkNet (STRK)

Since its launch, STRK has not been able to find its footing as the price decreased for most of the last few weeks. However, the project plans to unlock $116.48 million worth of its token soon. Indications from the On Balance Volume (OBV) showed that STRK lacked buying pressure to trigger a bounce.

STRK/USD 4-Hour Chart (Source: TradingView)

Therefore, a further decline below $1.80 could be next. However, a bullish outlook could cause STRK to rise to $1.94, as shown by the Bollinger Bands (BB). However, the token lacked high volatility, which could drive it higher than $2. If the situation becomes bearish, STRK could fall to $1.78.