Pay attention to these altcoins in November: Selling pressure may increase!

The altcoin market has caused concern among investors with the key breakthroughs in November.

In November, with the expiration of the payment periods of blockchain-based projects, locked digital assets worth 2.68 billion dollars will be released into the market. According to Tokenomist (formerly known as Token Unlocks) data, crypto worth 2.68 billion dollars will be unlocked in November.

While more than 900 million dollars of this amount will be unlocked as a one-time 'cliff unlock,' approximately 1.7 billion dollars worth of tokens will be gradually released into the market. The most notable unlockings in November 2024 are for the MEME, APT, ARB, AVAX, and OP projects.

Which altcoins will unlock the key?

The memecoin project is preparing to release 3.45 billion tokens via airdrop. These tokens are worth approximately 37.8 million dollars. In addition to the cliff unlock, a gradual token release will also be made for contributors. During this process, more than 10 million MEME will be released daily, and these tokens will be worth approximately 117,000 dollars. The price of the MEME token is currently around 0.010 dollars, which is 81% below its highest level of 0.053 dollars in 2024.

Layer-1 blockchain network Aptos will release another 11.31 million tokens, and the value of these tokens will be 93 million dollars. $32 million of this amount will go to the project's main contributors, $26 million to the community, $11 million to the foundation, and $23 million to the investors. APT is currently trading at approximately $8.24.

Avalanche will unlock 1.67 million AVAX tokens for the foundation, which will be worth 39 million dollars. Optimism will release 31.4 million tokens, worth about 44 million dollars.

The most remarkable name on the list is Arbitrum (ARB)

Ethereum's layer-2 network Arbitrum will release 92.65 million tokens, which will be worth approximately 45 million dollars. The popular altcoin had unlocked and released tokens worth 1.1 billion dollars on March 16.

After this major breakthrough, the price of ARB entered a downward trend. The token is currently trading at around $0.48, which is 79% below the all-time high of $2.39 on January 12th.

This article does not contain investment advice or recommendations. Every investment and trading activity involves risk, and readers should conduct their own research when making decisions.