The cryptocurrency market is bracing for a significant shift in the prices of certain tokens. Massive token unlocks are set to occur over the coming week, which could negatively impact supply dynamics. As a result, traders and investors are advised to exercise caution and avoid trading specific cryptocurrencies. Here are 6 tokens that are about to face massive token unlocks in the coming days.

Token Unlocks: A Bearish Event

Token unlocks are a periodic release of locked tokens into the market, which can significantly impact supply and demand dynamics. This event is often seen as a potentially bearish signal, urging traders and investors to exercise caution and avoid trading specific cryptocurrencies.

6 Cryptos to Avoid Trading This Week

1. AltLayer (ALT): AltLayer is set to face an unlock of 105.21 million ALT tokens, worth $20.03 million, on June 25. This totals a significant 6.92% of AltLayer’s circulating supply, signaling that a notable price dip ahead is possible with the unlock.

2. Yield Guild Games (YGG): YGG will face an unlock of 16.69 million tokens, worth $1067 million, on June 27. The unlock is equivalent to 4.48% of the total circulating supply, posing a significant threat to price.

3. Ethena (ENA): ENA will encounter an unlock of 14.89 million coins, worth $8.88 million, on June 23. This totals 0.87% of the circulating supply, also emerging as a threat to future price actions.

4. SingularityNET (AGIX): AGIX will also witness a significant token unlock in the coming week. Notably, 8.57 million tokens, worth $5.51 million, will be unlocked on June 28. The unlock amount equals 0.67% of the circulating supply, a potential threat to price.

5. Acala (ACA): The Acala crypto is set to experience an unlock of 4.66 million tokens, worth $328.52K, on June 25. This is equivalent to 0.46% of the circulating supply.

6. 1inch (1INCH): The 1INCH crypto will face a comparatively smaller 64.28K tokens unlock, worth $25.80K, on June 27. The amount is marginal, totaling 0.01% of the token’s circulating supply.