Nearly $100 Million Token Flood This Week: Will Crypto Prices Pump or Dump?

Crypto market braces for $100 million token influx with key unlocks from Manta Network, Pixels, Space ID, and others totaling $250 million this week.
Nearly $100 Million Token Flood This Week: Will Crypto Prices Pump or Dump?

Key Insights

  • The crypto market will see nearly $100 million worth of tokens unlocked this week.

  • While Manta Network's previous unlock caused a price dip, the network is set to release another 6.67 million MANTA tokens on 18 June.

  • The last unlock led to a price increase for Pixels, and a new 54.38 million PIXEL unlock is incoming on 19 June.

  • Space ID plans to release 78.5 million ID tokens on 22 June, despite a price drop on the previous unlocks.

  • Other token unlocks, including Pendle, Nym, and others, are expected throughout the week, bringing the total amount flooding the market to around $250 million.

The crypto market is gearing up for a wild week ahead, considering the available data for token unlocks.

Between 18 and 22 June, around $100 million worth of tokens will be unlocked into the market, likely pushing prices in either direction.

Here are some of the most noteworthy of these token unlocks, and how they affect you as an investor.

Manta Network

Manta is one of the first crypto unlocks during the week.

This token unlock is scheduled for Tuesday, 18 June, and is set to release around 6.67 million MANTA tokens into the market.

These tokens will add to the current Manta circulating supply of 325.3 million and are worth $8.53 million according to data from Token Unlocks.

<div class="paragraphs"><p>The upcoming Manta Unlock</p></div>

The upcoming Manta Unlock

The previous Manta unlock happened around 31 May and released 1.87 million MANTA tokens, worth $3.25 million at the time.

<div class="paragraphs"><p>Manta in the charts</p></div>

Manta in the charts

The chart shows that the last Manta unlock came before a 35% price decline from $1.855 to $1.2.

However, considering the possible rebound from $1.2 illustrated above, the current unlock might turn out to be a positive event.

Pixels

The Pixels token unlock will occur on June 19 and will unlock around 54.38 million PIXEL tokens from its treasury.

According to Token Unlocks, these released tokens will be added to the current circulating supply of  771 million and are worth around $20 million.

<div class="paragraphs"><p>The upcoming Pixel Unlock</p></div>

The upcoming Pixel Unlock

The previous token unlock event happened around May 19 and, interestingly enough, was positive for the cryptocurrency.

The charts show that on May 19, the cryptocurrency was trading around the $0.33 support.

<div class="paragraphs"><p>Possible trajectory for Pixels</p></div>

Possible trajectory for Pixels

The token unlock from May seemed to have translated into a 65% price rally for the cryptocurrency, from $0.33 to $0.56.

This time around, we are seeing the same thing happen on Pixel, with a retest of $0.33.

If history repeats itself, we just might be seeing a rally to $0.56 or beyond, between now and the next two weeks.

Space ID

Space ID is also set to release 78.5 million ID tokens. This token unlock is set to increase its circulating supply to around 430 million on June 22.

<div class="paragraphs"><p>The upcoming ID unlock</p></div>

The upcoming ID unlock

The last token unlock happened around 22 May, releasing 19 million tokens, worth $14 million.

The incoming unlock is set to release $40 million worth of tokens into the market, and as we can see in the chart below, the last unlock event caused a 38% price crash.

<div class="paragraphs"><p>The last token unlock event</p></div>

The last token unlock event

ID currently trades at around $0.5, and is unlikely to break below, considering how this price level is a psychological resistance.

However, if this token unlock hits and we see a break below $0.5, the resulting crash in the cryptocurrency might be devastating, so investors should keep an eye out.

Overall, other token unlocks expected through the week include projects like Nym, Kadena, Euler and Pendle, all of which bring the total amount of tokens to be unlocked to around $250 million.

While past performance is no guarantee, it might be helpful to keep an eye out for these cryptocurrencies before opening (or even closing trades).

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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