Crypto Market on Brink as 20 Altcoin Token Unlocks Scheduled
A large number of token unlocks are scheduled for 20 altcoins this week, which could impact their market value. The cryptocurrency market experienced a decline due to higher-than-expected US inflation data, leading to an increased likelihood of a Fed interest rate hike.
Bitcoin has seen a significant 3% drop in the last week, while Ethereum is one of the few altcoins that will close the week with a slight increase. However, several token unlocks are scheduled for this week, including Chainbase (C), Boundless (ZKC), and StarkNet (STRK).
Chainbase has an unlock schedule of 5.65% of its market value worth $1.34 million on September 14 at 03:00 UTC+3 Turkish time. Meanwhile, Boundless will see a significant 63.72% of its tokens unlocked for $9.83 million on the same day.
StarkNet's token unlock is scheduled for September 15 at 3:00 PM with 1.79% of its market value worth $3.68 million. Arbitrum (ARB) will also see a small token unlock of 1.40% of its market value worth $13.05 million on the same day.