As Bitcoin is in the process of recovering from a sharp correction, altcoins are facing danger in the coming days.
While Bitcoin dragged altcoin prices down with its sharp correction, a warning came from 10x Research on the subject.
Cryptocurrency analysis and research firm 10x Research, in its report published on May 8th, stated that approximately $2 billion worth of unlocks will occur over the next 10 weeks, which could pull the market down.
It is expected that approximately $97 million worth of Aptos (APT), $79 million worth of Starknet (STRK), $94 million worth of Arbitrum (ARB), $53 million worth of Immutable X (IMX), $330 million worth of Avalanche (AVAX), $64 million worth of Optimism (OP), $28 million worth of PRIME, $1 billion worth of Sui (SUI), $48 million worth of Ethena (ENA), $171 million worth of Altlayer (ALT) and $135 million worth of XAI tokens will be released and enter circulation in the next 2 months.
The report included the following statements regarding the selling pressure:
Venture capitalists may limit upside momentum and put downward pressure on prices when locks are unlocked.