Major Token Unlocks Expected for BLAST, AltLayer, VENOM
- BLAST, ALT, and VENOM unlocks exceed $31.8M.
- No public leadership comments on token unlocks.
- Market may face increased volatility and price shifts.
Unlocks are crucial as they may impact market dynamics, prompting short-term volatility and potential sell-offs, while investor reaction remains cautious but measured.
Token Unlock Details
BLAST will release 35.08% of its tokens, valued at approximately $25.15 million, on June 26. AltLayer (ALT) is set for a 2.87% unlock on June 25, potentially affecting 6.83% of supply, while VENOM will release 0.50% without a specified date.
The projects have remained silent on their leadership fronts, as no statements from BLAST’s anonymous team or Dr. Yaoqi Jia of AltLayer have been confirmed regarding the upcoming unlocks. “No direct public statements from leadership regarding the unlock event have been identified.” Source
Market Implications
As over $31.8 million floods the market, investors might brace for increased volatility. Trading volumes for BLAST have already declined by 34%, hinting at cautious investor sentiment. Such figures indicate noticeable anticipatory moves in the token market.
Financial implications appear significant, as large unlocks often lead to short-term declines in token prices, historically affecting Layer 2 solutions or modular projects. AltLayer and VENOM may see varied market reactions depending on relative supply influx and investor confidence.
Historically, similar unlock events in Layer 2 projects like OP, ARB have triggered volatility. As such, seasoned observers predict price shifts based on demand absorption and the comparative market cap of these tokens, highlighting investor caution.
