$NAME unlocks at 8 a.m. this morning, and the numbers are a bit scary.
$56.28 million will be unlocked.
Its entire market cap is only $75.93 million, so the unlocked amount equals 74% of its market cap.
Put another way, if a tray of goods is worth just $76 in total, another $56 worth is being put out this morning.
Whether it can be absorbed or not depends entirely on whether people are willing to take it.
To be clear, an unlock does not mean an immediate dump; the vesting party may also continue holding.
But with this ratio, anyone holding it should keep an eye on the market today and not fall asleep.
This week, 15 altcoins are set to unlock a total of $144 million, and NAME is just the first wave.
Coming up next is ALLO, which unlocks $25.9 million on November 11, accounting for 87% of its market cap — an even more extreme ratio than NAME.
PUMP also has $32.85 million unlocking on November 12, but with a market cap of $1.69 billion, its ratio is less than 2%, so the pressure is much smaller.
For small-cap coins during unlock week, I stick to one rule: don’t try to catch a falling knife the night before the unlock.
If you really want to trade it, wait until after the unlock and see whether the buying support is stable.
The data source is this week’s unlock schedule compiled by Bitcoinsistemi.
Personal analysis, not investment advice.
#thisweekaltunlocks
$56.28 million will be unlocked.
Its entire market cap is only $75.93 million, so the unlocked amount equals 74% of its market cap.
Put another way, if a tray of goods is worth just $76 in total, another $56 worth is being put out this morning.
Whether it can be absorbed or not depends entirely on whether people are willing to take it.
To be clear, an unlock does not mean an immediate dump; the vesting party may also continue holding.
But with this ratio, anyone holding it should keep an eye on the market today and not fall asleep.
This week, 15 altcoins are set to unlock a total of $144 million, and NAME is just the first wave.
Coming up next is ALLO, which unlocks $25.9 million on November 11, accounting for 87% of its market cap — an even more extreme ratio than NAME.
PUMP also has $32.85 million unlocking on November 12, but with a market cap of $1.69 billion, its ratio is less than 2%, so the pressure is much smaller.
For small-cap coins during unlock week, I stick to one rule: don’t try to catch a falling knife the night before the unlock.
If you really want to trade it, wait until after the unlock and see whether the buying support is stable.
The data source is this week’s unlock schedule compiled by Bitcoinsistemi.
Personal analysis, not investment advice.
#thisweekaltunlocks