Altcoins
List of Top 3 Altcoins to Avoid This Season
The altcoin market is going through a period of turbulence, with major altcoins seeing declines. According to Altcoin Buzz Analystthere is a possibility that they could continue to fall. This is due to over 40 projects in the crypto space scheduled to release tokens worth over $750 million. This large influx of tokens could lead to significant sell-offs. Here is a list of altcoins to avoid.
Aptos (APT)
The first scheduled unlock is of Aptos, a recurring project. It is a layer-one blockchain designed for scalability, reliability, and security. Aptos aims to provide faster transaction speeds and lower costs, making it suitable for various decentralized applications.
They plan to unlock 11.31 million on July 12 APT Tokens worth $77 million, which is 2.59% of the project’s circulating supply. These tokens are allocated to its foundation, community, top contributors, and investors. The quarterly chart shows a price decline, from around $14 to below $6. This recent unlock could continue to put downward pressure on the price.
Referee (ARB)
Next on the list is RefereeA layer-two scaling solution for Ethereum designed to improve transaction speed and reduce costs. Arbitrum uses optimistic rollups to improve Ethereum’s efficiency and scalability.
In May, Arbitrum released $95 million, followed by $105 million in June. On July 16, they plan to release another $75 million in tokens to their team, advisors, and investors. Since March, ARB’s price has dropped significantly, from an all-time high of $2.27 to around $0.63.
Alt Level (ALT)
Finally, the decentralized protocol AltLayer is set to unlock 684 million ALT tokens worth approximately $125 million on July 25. These tokens are allocated to its team, investors, advisors, protocol development, treasury, ecosystem, and community. The price of ALT has dropped significantly and the upcoming unlock will likely add further downward pressure.
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