Altcoin prices may face significant pressure this week as token unlocks totaling $441 million are set to occur. Major projects such as Sui and Ethena will release substantial token supplies, potentially leading to increased market inflation. This development comes amid a weak Altcoin Season Index and heightened investor caution following recent market liquidations.
The crypto market is also eyeing the upcoming US non-farm payrolls data and the potential SEC approval of altcoin ETFs in October. These factors are considered major catalysts that could influence the Federal Reserve's interest rate decisions and the approval of ETFs, adding further uncertainty to the market dynamics.
$441 Million Token Unlocks Pose Risk to Altcoin Prices
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