Investor Caution: 3 Cryptocurrencies to Avoid During $130M Token Unlocks
The upcoming token unlocks of Optimism (OP), Sui Network (SUI), and io.net (IO) this week, totaling over $130 million, pose significant risks for cryptocurrency traders. These releases have the potential to flood the market, increasing selling pressure and causing notable price fluctuations. Optimism’s unlock alone, scheduled for June 30, will introduce 31.34 million OP tokens valued at $55.16 million, contributing nearly 3% to its supply. Similarly, Sui Network will inflate its supply by 2.7% with the release of 64.20 million SUI tokens on July 1, primarily benefiting private investors. Meanwhile, io.net’s release of 7.5 million tokens worth $27.23 million will add nearly 8% to its circulating supply.
2024-06-27Read
