Crypto enthusiasts love to see green color dominance in market as it helps to build investors trust over market. On the other hands, Fear & greed index is around 71. This is huge and the market may dump once again after one bad news. So, investment at current time is pretty risky as it may make or break you.
We observe dump in market when selling pressure is high. Selling pressure become high during FUD and token unlocking event. Upcoming week will unlock couple of tokens, which may dump the market. Top 7 tokens which are unlocking during current weeks are as follow.
Sui - $159.7M
ImmutableX - $24.1M
dYdX - $16.9M
Galxe - $11M
Nym - $9M
Orbler - $8.5M
Biconomy - $6.9M
Sui is at the top of the list with unlocking of 346.3 million Sui token. It is almost 3.46% of the total token. Not a big number but excessive selling pressure as a result of token unlocking event may dump the Sui worth. Other coins on the list will face the same challange.
The best way of dealing this issue is to stop investing in these projects before unlocking events. Unlocking event will help you to determine that either it is good to invest on those coins or not. What is your opinion my friends?
This is it for my today post. Wish you all a very happy healthy and prosperous life ahead. Have a nice time.
