AccordingtotheBloomberg,early-stageprojectinvestorsseektoselltheirreceivedtokensfast,wantingtolockinshort-termprofits.
Alargevolumeoftokensisexpectedtobeunlockedin2024,puttingpressureonthealtcoinmarketandleadingtoasell-offofcryptocurrencies.Thissell-offiscontributingtothebroadercryptowinter,withthe115mostprominentaltcoinsfallinginpricebymorethan50%sincetheir2024peaks.Thesell-offofaltcoinsisoccurringdespiterelativeresilienceshownbythetwoflagshipcryptocurrencies,Bitcoin(BTC)andEthereum(ETH),whicharedown11%and13%,respectively,fromtheirpeaksthisyear.Thesell-offofaltcoinsisalsooccurringasinvestorsareshowinggrowinginterestinartificialintelligence(AI).Thisinterestisleadingtoasell-offofcryptocurrenciesandadropinprices,asinvestorsareshiftingtheirfundsfromcryptotoAI.The above is the detailed content of Altcoins Face an Early Crypto Winter, Mainly Due to the Large Token Unlocks in 2024. For more information, please follow other related articles on the PHP Chinese website!