Almost $1B In Altcoins Set To Flood The Market This February: Here Are The Key Ones
Almost $1B In Altcoins Set To Flood The Market This February: Here Are The Key Ones February 2024 is a pivotal month, with nearly $1 billion in altcoins set to unlock. This phenomenon, crucial for investors and newcomers alike, signifies the release of previously restricted altcoins into the market, influencing supply and demand dynamics. Alex Wacy, a renowned decentralized finance (DeFi) research specialist, has highlighted this significant event, emphasizing its impact on some of the notable altcoins among this February unlock. Altcoins Unleash: The February Token Unlocks February’s token unlocks encompass a diverse range of projects. Key players such as Aptos (APT), Immutable (IMX), Sui (SUI), Sei Network (SEI), and Oasis Network (ROSE) are at the forefront of this movement. SUI token unlock. | Source: Alex WacyAptos is set for a substantial release on February 12, with roughly $230 million worth of tokens poised for circulation. Despite previous unlocks, APT’s price has remained relatively stable. Aptos (APT) token unlock. | Source: Alex WacySimilarly, IMX and SUI are preparing for significant unlocks on February 23 and February 3, respectively. IMX’s unlock is valued at around $70 million, while SUI’s, worth $100 million, is particularly noteworthy as it marks its inaugural annual unlock. SEI and ROSE are also partaking in February’s unlock, with SEI releasing $85 million worth of tokens on February 15 and ROSE’s $19 million unlock scheduled for February 18. These events come when both projects have shown modest gains in the market. Large token unlocks in February ❄️🧵: • $DYDX – $91M February 1 • $SUI – $100M February 3 • $NYM – $14M February 3 • $GMT – $28M February 9 • $CGPT – $9M February 10 • $APT – $230M February 12 • $SEI – $85M February 15 • $MANTA – $51M February 18 • $ROSE – $19M February… pic.twitter.com/aK2dT2Phkk — AlΞx Wacy 🌐 (@wacy_time1) January 31, 2024 Market Performance Analysis Of Unlocked Tokens Amid the anticipation of these altcoins unlock, SUI, IMX, and Aptos have experienced notable surges in their values, increasing by 27.3%, 10.6%, and 9.7%, respectively, over the past week. However, the last 24 hours have seen varied movements, with SUI facing a 6.4% decline, Aptos slightly up by 0.7%, and IMX reducing by a mere 0.1%. SEI and ROSE, on the other hand, have witnessed less dramatic shifts. SEI saw a 6.4% increase over the week, while ROSE gained 5.4%. However, their 24-hour performance has diverged, with SEI dropping nearly 10% and ROSE decreasing by a marginal 0.2%. These market performances reflect the broader crypto market trajectory, which has recently seen a 1.7% decline in the overall market cap, now at $1.72 trillion. The global crypto market cap value on the 1-day chart. Source: Crypto TOTAL Market Cap on TradingView.comThis decline is led by crypto giants Bitcoin and Ethereum, which have experienced a 1.7% and 1.8% decline in their market caps over the past 24 hours. To put this into perspective, Bitcoin’s overall market cap has dropped approximately $15 billion in the past day, falling from $856 billion yesterday to $841 billion today. Similarly, Ethereum’s market cap has decreased by nearly $6 billion over the same period, moving from $282 billion yesterday to $276 billion today. Featured image from Unsplash, Chart from TradingView Samuel Edyme Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics. When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.” PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.