Although Bitcoin (BTC) surpassed $64,000, upcoming developments in some projects were confusing.
Bitcoin, which had a good start to the week, painted the altcoin market green. Altcoins, which have been in a downward trend recently, started their upward movement by gaining strength from this move of BTC. However, recent developments of some projects bring the possibility of creating selling pressure on the parity. So, what are these projects?
1- Pendle (PENDLE)
PENDLE will release 39,370 tokens ($200,000 worth) on May 8. It is wondered what effect this event will have on PENDLE, which is among the popular cryptocurrencies. The $5 level may be decisive for PENDLE.
2- GMX (GMX)
GMX, which has been quiet for a while, will unlock 403 GMX ($10,420 worth) on May 9. No significant sales pressure is expected with the release of this quantity. GMX investors continue to closely monitor regular lock openings.
3- Euler (EUL)
A lesser-known project, EUL, will unlock 67,940 tokens (worth $387,920) on May 9. Since this relatively small amount does not pose a sell-off threat, EUL is thought to not be subject to price fluctuations.
4- 1inch (1INCH)
1INCH holds regular unlocks and will release 15,000 tokens ($5,820 worth) on May 10. Although the number of unlocked tokens is low, 1INCH's periodic expansions of this kind may cause concern among investors from time to time.
5- Moonbeam (GLMR)
Moonbeam is set to launch 3.04 million GLMR ($923,370 worth) on May 11, raising fears among investors of a possible decline. GLMR, which is smaller than other projects in terms of market value, may face selling pressure if it cannot hold the $ 0.30 level as support.
6- Apts (APT)
APT, which could not show the expected performance, came to the fore with the unlocking. The circulation of 11.31 million APTs (worth $103.15 million) on May 12 may initiate a selling trend in the market. The fact that Aptos has not established a strong ecosystem may further exacerbate a possible sales wave.
7- dYdX (DYDX)
dYdX, one of the projects that regularly unlocks, will unlock 2.12 million tokens (worth $4.58 million) on May 14. Since this amount is low compared to the market value, it may not have a big impact. However, a possible decline in Bitcoin may cause DYDX to remain under selling pressure.
8- Starknet (STRK)
STRK, which crypto investors approached cautiously after the airdrop incident, will launch 64 million tokens (worth $85.76 million) on May 15. STRK, which is already under selling pressure, may see lower levels with this development.
9- CyberConnect (CYBER)
CYBER, which was once very popular, is now on the agenda with its unlocking. 886,120 CYBERs (worth $7.66 million) were to be released on May 15, causing confusion among investors. Since CYBER creates risk in the futures market, its future price movements are eagerly awaited.
10- Arbitration (ARB)
Arbitrum, one of the favorite projects of the crypto ecosystem in Turkey, will release 92.65 million ARB (worth $98.39 million) on May 16. This popular cryptocurrency, which has been disappointing with its recent decline, is struggling critically at the $1 level. If this level breaks downwards, a new selling wave may begin in ARB.
