Altcoins Set for Price Fluctuations as Token Unlocks Loom in April

Several altcoins are set for significant token unlocks in April 2024, including DYDX, APT, CYBER, STRK, AXS, PIXEL, and YGG. These unlocks represent over 5% of the maximum supply for each token and could potentially impact their prices. The largest unlocks are expected for DYDX (11.35%), APT (6.25%), and STRK (8.79%). The potential price volatility caused by these unlocks should be taken into account by investors.

Upcoming Token Unlocks: Altcoins Primed for Potential Price Volatility in April

According to the esteemed crypto analytics platform TokenUnlocks, a significant number of tokens are poised to experience a surge in circulating supply due to impending token unlocks. Seven altcoins in particular, namely $DYDX, $APT, $CYBER, $STRK, $AXS, $PIXEL, and $YGG, are expected to witness substantial unlocks in April 2024. These unlocks, representing more than 5% of their maximum supply, could potentially exert a notable impact on token prices, introducing short-term price fluctuations.

dYdX ($DYDX):

The decentralized exchange dYdX's native token, $DYDX, is anticipated to see an 11.35% increase in supply ratio. By the start of April, an estimated 113.33M $DYDX tokens will be unlocked, corresponding to a 33.33 million increase in its total supply.

Aptos ($APT):

Aptos, a scalable L1 PoS blockchain, is set to experience a 6.25% increase in $APT's supply ratio. Token Unlocks estimates that the token's value will surpass 409.89 million spot in token unlock value, with 24.84M tokens unlocking by April 12th.

Cyber Network ($CYBER):

Cyber Network, a blockchain platform focused on decentralized content hosting and web services, will see its $CYBER token undergo a 5.98% increase in supply ratio. The token's unlocked value is projected to reach 12.38M, with an unlocked amount of 886.12K by April 15th.

Starknet ($STRK):

Starknet's native token, $STRK, is slated for an 8.79% jump in unlocked supply ratio. Its unlocked value is anticipated to approach 136.32M, while the unlocked amount is likely to rise to 64.00M by April 15th.

Axie Infinity ($AXS):

Ethereum's governance token, $AXS, will witness a 7.63% increase in supply ratio. Value unlocks are expected to total 117.39M, accompanied by a 10.87M increase in its amount by April 17th.

Pixels ($PIXEL):

Pixels, a decentralized ecosystem, will experience a 7.05% increase in $PIXEL's unlocked supply ratio. By April 19th, its value and amount will likely reach approximately 38.67M and 54.38M, respectively.

Yield Guild Games ($YGG):

Yield Guild Games' native token, $YGG, is projected to undergo a 5.33% increase in supply ratio. The token's amount and value are likely to witness a significant surge of 23.37M and 16.69M by the end of April.

Potential Price Volatility:

These substantial token unlocks could potentially introduce volatility into the prices of the affected altcoins. Historical data suggests that large-scale token unlocks can exert downward pressure on token prices, as the increased supply dilutes the value of existing tokens. However, it is essential to note that this is not guaranteed, and other market factors can influence token prices simultaneously.

Investor Considerations:

Investors contemplating purchasing or holding these altcoins in April should carefully consider the potential impact of these token unlocks and tread with caution. It is advisable to conduct thorough research and exercise sound investment judgment before making any decisions based on this information.