September is just hours away and crypto investors are bidding farewell to August. So what can we expect in September? As with every month, we will see many key openings for altcoins. We saw how AVAX‘s lock-up opening pushed the price below $10 this month. Therefore, we may need to pay attention to this issue in September as well.
Token Lock-up Openings in September
There have been and will be massive lock-up openings in 2023. Therefore, it defined 2023 as the “inflationary year” even before entering the year. Cryptocurrencies are released into the market with specific token economies. Many altcoins plan their future lock-up openings in advance. The prices we see years later when their circulating supplies reach the levels they should be, are different due to this reason.
If the circulating supply increases and there is no increase in new investor demand, the price of the relevant altcoin will decrease. This is similar to central banks causing inflation by printing money and it reduces the token’s purchasing power.
Lock-up Openings of 7 Altcoins
In September, we will see a circulating supply of tokens worth $225 million. HBAR, SUI, IMX, APT, APE, DYDX, and OP Token will significantly increase their circulating supplies. Since altcoins like DYDX already have serious lock-up openings every month, investors are used to it. However, newly introduced altcoins like SUI and APT Coin are more negatively affected by token lock-up openings. For example, DYDX, which entered our lives with a very low supply in the early days, had a price of $27. As the supply increased exponentially, the price continues to remain below $5 today.
In the graph above, you can see the details of the lock-up openings to be held in September. APE Coin may experience significant fluctuations in price as it will make one of the biggest lock-up openings. As these lock-up openings approach, we will also share comprehensive price analyses with you. Every Sunday, we regularly share the key opening and important developments of the week with our readers.
The final detail to consider for token lock-up openings is the team’s moves against them. Surprise partnerships that can increase the price, suggestions to postpone lock-ups, and more announcements can surprise those who engage in selling pressure.
