Six Alternative Cryptocurrencies Prepare to Face the Challenge of a Higher Market Supply in the Coming Week

The most recent update from the Token Unlocks App indicates that six alternative cryptocurrencies are preparing to face the challenge of a higher market supply in the coming week.

Six altcoins are set to face the heat of a higher market supply in the upcoming week with significant token unlocks, referring to the periodic release of tokens previously locked within the market. Specifically, $138.8 million in cliff unlocks are set to hit certain altcoins in the coming days. The tokens in question are AltLayer (ALT), Space ID (ID), Ethena (ENA), Galxe (GAL), Yield Guild games (YGG), and Acala (ACA). Here's a quick rundown of the token unlocks, which could be big crypto news for market participants. AltLayer (ALT) A massive 684.21 million ALT tokens, valued at $111.01 million, are set to be released for the AltLayer cryptocurrency on July 25. This constitutes 42.08% of the total circulating supply of the coin, leading to substantial investor concerns regarding its potential impact on the market. The price of ALT was trading at $0.1619 at the moment, indicating a 5.29% increase in the past day. The lowest value reached in the past 24 hours was $0.1572, and the highest was $0.1729. Space ID (ID) The Space ID token will see 18.49 million IDs valued at $9.01 million being unlocked on July 22. This comprises 4.29% of the total coins in circulation. The price of ID traded at $0.4875, showing an increase of 5.70% compared to the previous day. Within a 24-hour period, the token experienced a low of $0.4607 and a high of $0.5011. Ethena (ENA) Ethena is preparing to have 14.89 million ENA tokens, valued at $7.32 million, being unlocked on July 21. This accounts for 0.87% of the total circulating supply of the coin. The price of ENA traded at $0.493 today, indicating an increase of 6.97% compared to the previous day. Ethena experienced a low of $0.4699 and a high of $0.5116 in the past 24 hours. Yield Guild Games (YGG) Set to be unlocked from the Yield Guild Games cryptocurrency on July 27 are 14.08 million YGG tokens, valued at $7.56 million. This comprises 3.74% of the total circulating coins. The price of YGG traded at $0.5369, showing an increase of 2.97% in the past day. The token experienced a low of $0.5183 and a high of $0.555 in 24 hours. Galxe (GAL) The altcoin Galxe is preparing to have 1 million GAL, valued at $3.60 million, being unlocked on July 24. This constitutes 0.85% of the total circulating supply of the coin. The price of GAL today was $3.58, indicating a decrease of 5.78% compared to the previous day. The lowest and highest values recorded during 24 hours were $3.54 and $3.92, respectively. Acala (ACA) Acala is set to see 4.66 million ACA tokens, valued at $340.03k, being unlocked on July 25. This comprises 0.46% of the total coin supply in circulation. The price of ACA was trading at $0.07291, indicating an increase of 2.53% over the previous day. Within a 24-hour period, the coin experienced a low of $0.07132 and a high of $0.0759. Significantly, the above token unlocks continue to garner attention from market participants as investors remain perturbed by this altcoin news, primarily due to the increasing supply.

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