Investors are closely monitoring not only the price increases of Bitcoin (BTC) and altcoins, but also the cryptocurrencies whose locks will be opened in March, according to Chinese crypto journalist Wu Blockchain.
According to data from research firm Token Unlocks, 16 altcoins are expected to have their locks released in March. These altcoins include 1inch (1INCH), Galxe (GAL), Nym (NYM), Tornado Cash (TORN), Moonbeam (GLMR), Aptos (APT), Sweat Economy (SWEAT), dYDx (DYDX), BitDAO (BIT), Euler (EUL), ApeCoin (APE), Stargate Finance (STG), Acala (ACA), ImmutableX (IMX), LooksRare (LOOKS), and Yield Guild Games (YGG).
According to Token Unlocks’ report, some of the altcoins whose locks are expected to be released in March and their values are as follows:
“On March 12, APT worth $59 million,
On March 14, DYDX worth $20 million,
On March 15, BIT worth $100 million,
On March 17, APE worth $210 million,
On March 25, IMX worth $19 million will have their locks released.”
According to TokenUnlocks:
$59m APT will be unlocked on March 12
$20m DYDX on March 14
$100m BIT on March 15
$210m APE on March 17
$19m IMX on March 25
In addition, large amounts of GLMR LOOKS YGG STG will be unlocked on March.
Read more: https://t.co/tuQYnSlfTZ
— Wu Blockchain (@WuBlockchain) March 1, 2023
Unlocking of tokens does not necessarily mean a direct sell-off, but such developments can reduce risk appetite and price of that particular token. In this context, experts remind investors to be cautious.
*Not financial advice.