Major Token Unlocks: $213M to Hit Market, AVAX Leads

• Over $192.74 million in AVAX will be unlocked in the upcoming week.
• $7.26 million in PIXEL and $6.6 million in ID will also be released in the market.
• $1.31 million worth GAL, $4.46 million in ENA will be unlocked along with another $933.33K in GAL.

Major token unlockings are scheduled for the upcoming week with $213 million in digital assets set to hit the market. This news has sparked concern among investors in these cryptocurrencies, as token unlocking events are often linked to selling pressure. Notably, the biggest ecosystem to release tokens in the market is Avalanche (AVAX), a layer one blockchain that seeks to dethrone Ethereum.

In a post on social media platform X (formerly Twitter), Token Unlocks confirmed that along with AVAX, other ecosystems to release coins into the market include Pixels (PIXEL), Space ID (ID), 1Inch (1INCH), Galaxy (GAL), Acala Token (ACA), Forta (FORT), and Ethena (ENA). These altcoins may experience increased volatility in the short term.

As per the data, AVAX will unlock tokens worth a whopping $192.74 million or 9.52 million AVAX tokens, which amounts to 2.41% of the circulating supply of the altcoin. As per CoinMark…

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