As an experienced analyst, I’ve seen my fair share of crypto market cycles, and based on current trends, this one might be shorter than previous ones. The reason? Venture crypto funds could be the culprits.
“The ongoing cryptocurrency market bull run might be less prolonged than its past counterparts and may not conclude with a significant surge of altcoins.”
According to a report from 10x Research analysts, it is possible that venture crypto funds, with their large holdings of cryptocurrencies, could play a significant role in shaping the market in the future.
As an analyst, I would caution against relying too heavily on token unlocks during this cryptocurrency bull market cycle. The current market may not last as long as past ones and might not result in a widespread altcoin surge. Could crypto venture capital funds potentially expedite the end of this altcoin cycle?
— 10x Research (@10x_Research) May 8, 2024
As a seasoned crypto investor, I’ve observed firsthand the impressive daily trading volumes surpassing $100 billion and the continuous advancements in the crypto project landscape. However, it’s essential to acknowledge that there are notable limitations hindering the full growth potential of this industry.
10x Research analysts
Based on the analysis of industry experts, approximately $2 billion worth of token unlocks are scheduled to occur over the next ten weeks. This significant release could potentially have a negative effect on the value of altcoins.
As an analyst, I’ve examined the TokenUnlocks data and identified a significant event: On May 15, Aevo, a leading layer 2 crypto derivatives platform, is set to unlock approximately 828.93 million AEVO tokens, equivalent to around $1.17 billion. Out of the total supply of one billion coins, a proportion of 18.5% will be allocated to private investors.
On July 24, Sam Altman’s Worldcoin project is set to release a smaller tranche of $39.78 million worth of WLD tokens, which equates to 0.05% of the overall token supply or approximately 2.4% of the presently circulating coins.
As a crypto investor, I’m excited to note that on May 12th, around 2.6% of the total circulating supply of Aptos (APT), amounting to approximately $101.67 million worth of tokens, will be unlocked.
In April, 10x Research issued a warning that the market was approaching a tipping point, potentially leading to a significant correction. The primary cause of concern was identified as unexpectedly prolonged inflation.
If the bond market anticipates fewer than three rate cuts and the 10-year Treasury yield is over 4.5%, it’s expected that prices of risk assets will experience a correction.
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2024-05-08 20:32