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Cryptocurrency world entered a week closely watched like pawns on a chessboard. Behind the market fluctuations are the Federal Reserve’s interest rate decision and the unlocking of tokens worth $190 million from three major cryptocurrencies. These events bring moments where investors anxiously wait and reconsider their strategies. So, which cryptocurrencies should be avoided this week?
Optimism (OP)
July 31 is an important date for Optimism (OP). On this date, 31.34 million OP tokens worth $54.53 million will be unlocked. This development, which means a 2.8% increase in total supply, is part of the monthly unlocking processes contributing to Optimism’s 35% annual inflation rate.
Although the token amount remains the same, the decrease in value reveals the economic impacts of the network’s high inflation rate. This situation raises questions in investors’ minds and starts a search for a new balance in the market.
Sui Network (SUI)
On August 1, Sui Network (SUI) will take the stage. With the unlocking of 64.2 million tokens worth $50.06 million, there will be a 2.6% increase in token supply. The 10% decrease in value compared to the previous month shows that unlocked tokens lose value over time.
These tokens, allocated to Series A and B private investors, will be distributed among early contributors, Misten Labs treasury, and the Community Reserve. This distribution creates curiosity and concern among investors, while the market’s reaction is eagerly awaited.
ZetaChain (ZETA)
A low-cap cryptocurrency, ZetaChain (ZETA), will face a major test on August 1. It is expected that 53.89 million ZETA tokens worth $35 million, constituting 18.9% of the current market value, will be released into the market.
This sudden increase could cause a sharp drop in ZETA’s price. The rapid increase in supply may shake investors’ confidence in this cryptocurrency and lead to significant fluctuations in the market.
Investors are expected to respond to these unlocking events by speculating and readjusting their positions. Combined with the Federal Reserve’s interest rate decision, these developments are likely to increase volatility in the cryptocurrency market. During this process, investors need to be cautious and consider potential risks when dealing with Optimism (OP), Sui Network (SUI), and ZetaChain (ZETA).
