Attention for Those 20 Altcoins: Millions Will Enter the Market!

The cryptocurrency market has entered a recovery trend after sharp declines in recent weeks. Over the past week, Bitcoin, Ethereum, and other leading altcoins have gained value. Next week, there will be another important development in the cryptocurrency market. A large amount of tokens will be unlocked in many altcoin projects. Here are the details...

What is unlocking?

Unlocking means that cryptocurrencies that were previously locked for a certain period of time become free upon the expiration of the lock-up period. Unlocking events often have the potential to increase a project's supply, lowering its price.

Altcoin unlocks next week

In the list below, we share the altcoins that will be unlocked throughout this week. The US dollar equivalent of the coins that altcoins will unlock is written:

January 29, 2023

• WOO Network (WOO): $5.59 million
• Atlas Navi (NAVI): $1.01 million
• Sei (SEI): $1.51 million
• Mina Protocol (MINA): $1.23 million
• Celo (CELO): $1.14 million

January 30, 2023

• SafePal (SFP): $5.74 million
• Illuvium (ILV): $2.91 million
• API3 (API3): $3.23 million
• Echelon Prime (PRIME): $6.64 million
• Gamium (GMM): $1.36 million

January 31, 2023

• Optimism (OP): $74.24 million
• Nym (NYM): $1.59 million
• SKALE (SKL): $1.54 million

February 1, 2023

• Vulcan Forged (PYR): $1.14 million
• Solend (SLND): $4.82 million
• Hooked Protocol (HOOK): $7.37 million
• dYdX (DYDX): $108.04 million
• Amino (AMO): $2.95 million
• Orbler (ORBR): 38.34 million ORBR

February 2, 2023

• Biconomy (BICO): $2.57 million

February 4, 2023

• Mines of Dalarnia (DAR): $2.53 million

### What would be the impact of unlocks on the market?

The impact of unlocks on the market may vary depending on the amount of tokens to be unlocked and the popularity of the project. In general, it is considered that the key expansions will have a negative impact on the price. This is because unlocking causes the supply to increase and therefore the price to decrease.

However, in some cases, unlocks can also have a positive effect on the price. For example, it is also possible for the price to rise if the project makes a significant improvement after the unlocking or if there is a positive mood in the market as a whole. We will see in the coming days how the key openings that will take place this week will affect the market.

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