According to Cryptonews, the altcoin market is about to face a turbulent week, as several significant events will occur in the coming days that will impact market price fluctuations. Some projects worth following this week include Mango Network (MGO), AirSwap (AST), Blast (BLAST), Injective (INJ), Across Protocol (ACX), Optimism (OP), Berachain (BERA), and Synthetix (SNX).
MGO: Token launch and airdrop event on June 24
Mango Network is preparing to launch its token generation event, with a total supply of 10 billion MGO. The token is scheduled to be listed on several major cryptocurrency exchanges on June 24.
According to the announcement, the project will allocate 1 billion MGO for airdrops to early supporters, with 5% distributed through the testnet airdrop and 5% through the mainnet airdrop. The airdrop activity of this token may trigger a surge in the price of the new token. However, altcoin market traders should also be aware of the seven-year unlocking period.
AST: AirSwapDAO will hold a meeting on June 25
The native token AST of AirSwap in the Discord conference has recently surged by 53% in market price ahead of the highly anticipated Discord membership conference. According to its official X post, the meeting will be held at 6:30 UTC on June 25. The expectation for the outcome of this governance meeting may be the driving force behind its continued rise.
BLAST: 34% of tokens will be unlocked on June 26
Approximately 1.05 billion BLAST tokens will be unlocked on June 26 at 14:00 UTC. This portion of tokens accounts for 35% of the total circulation, with a current market value of about $25 million.
Historically, such a large-scale unlocking would create selling pressure. Analysts predict that the price of BLAST will fall by about 23% this week. Altcoin market traders should be vigilant about the continued decline, as a rebound may occur if on-chain usage can absorb the drop.
INJ: Injective Summit on June 26
The Injective Summit is scheduled for June 26, and is expected to make headlines due to announcements involving "Injective Alpha" and other institutional integrations, as suggested by the summit materials.
The positive news brought by the summit may trigger a rise in the price of INJ, as prices typically increase after events due to market expectations. Therefore, strong statements may lead to larger breakthroughs, while lackluster statements may cause significant falls.
ACX: 100 million tokens will be unlocked on June 29
Across Protocol (ACX) will unlock 100 million ACX tokens on June 29, accounting for 22.65% of its circulating supply, worth approximately $15.7 million. Although this unlocking scale is far lower than the large-scale issuance on June 28, it may still bring moderate selling pressure to the altcoin market.
If most altcoin market traders choose to sell rather than hold, the unlocking could lead to a price fall of 10% to 15%. However, if traders choose to stake, or if the protocol absorbs tokens to incentivize liquidity, the impact on price may be less significant.
OP: More than 31 million tokens will be unlocked on June 29
On June 29, Optimism is expected to unlock approximately 31.34 million OP tokens, accounting for about 1.83% of its circulating supply, valued at around 18 million USD.
In the past, unlocks of this scale often triggered a price fall of 2% to 3%, as token holders would choose to liquidate their holdings rather than endure market corrections. However, there is still the possibility of new buyers entering the market during price declines, thereby mitigating the impact.
BERA: Berachain Starts Shifting Focus on Revenue
The Berachain mainnet is currently readjusting its revenue sources through its "liquidity proof" model, reinvesting protocol fees into liquidity over the next few weeks. This shift in revenue may attract yield-focused capital, thereby driving up the price of BERA.
However, the momentum depends on the actual revenue traction and the alts market's response to changes.
SNX: Synthetix exchange is set to launch on Ethereum
At the beginning of this month, Synthetix announced the launch of its first perpetual futures DEX mainnet on Ethereum. Although the project has not disclosed a specific date for the platform's launch, altcoin market traders expect that date to arrive soon.
For SNX, as users migrate their positions and liquidity back to Ethereum, real-time trading activity may reignite demand. This move may also strengthen SNX's governance and the fee tier structure linked to the holdings.
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This week's altcoin market outlook: MGO, AST, BLAST, ING, ACX, OP, BERA, and SNX
According to Cryptonews, the altcoin market is about to face a turbulent week, as several significant events will occur in the coming days that will impact market price fluctuations. Some projects worth following this week include Mango Network (MGO), AirSwap (AST), Blast (BLAST), Injective (INJ), Across Protocol (ACX), Optimism (OP), Berachain (BERA), and Synthetix (SNX).
MGO: Token launch and airdrop event on June 24
Mango Network is preparing to launch its token generation event, with a total supply of 10 billion MGO. The token is scheduled to be listed on several major cryptocurrency exchanges on June 24.
According to the announcement, the project will allocate 1 billion MGO for airdrops to early supporters, with 5% distributed through the testnet airdrop and 5% through the mainnet airdrop. The airdrop activity of this token may trigger a surge in the price of the new token. However, altcoin market traders should also be aware of the seven-year unlocking period.
AST: AirSwapDAO will hold a meeting on June 25
The native token AST of AirSwap in the Discord conference has recently surged by 53% in market price ahead of the highly anticipated Discord membership conference. According to its official X post, the meeting will be held at 6:30 UTC on June 25. The expectation for the outcome of this governance meeting may be the driving force behind its continued rise.
BLAST: 34% of tokens will be unlocked on June 26
Approximately 1.05 billion BLAST tokens will be unlocked on June 26 at 14:00 UTC. This portion of tokens accounts for 35% of the total circulation, with a current market value of about $25 million.
Historically, such a large-scale unlocking would create selling pressure. Analysts predict that the price of BLAST will fall by about 23% this week. Altcoin market traders should be vigilant about the continued decline, as a rebound may occur if on-chain usage can absorb the drop.
INJ: Injective Summit on June 26
The Injective Summit is scheduled for June 26, and is expected to make headlines due to announcements involving "Injective Alpha" and other institutional integrations, as suggested by the summit materials.
The positive news brought by the summit may trigger a rise in the price of INJ, as prices typically increase after events due to market expectations. Therefore, strong statements may lead to larger breakthroughs, while lackluster statements may cause significant falls.
ACX: 100 million tokens will be unlocked on June 29
Across Protocol (ACX) will unlock 100 million ACX tokens on June 29, accounting for 22.65% of its circulating supply, worth approximately $15.7 million. Although this unlocking scale is far lower than the large-scale issuance on June 28, it may still bring moderate selling pressure to the altcoin market.
If most altcoin market traders choose to sell rather than hold, the unlocking could lead to a price fall of 10% to 15%. However, if traders choose to stake, or if the protocol absorbs tokens to incentivize liquidity, the impact on price may be less significant.
OP: More than 31 million tokens will be unlocked on June 29
On June 29, Optimism is expected to unlock approximately 31.34 million OP tokens, accounting for about 1.83% of its circulating supply, valued at around 18 million USD.
In the past, unlocks of this scale often triggered a price fall of 2% to 3%, as token holders would choose to liquidate their holdings rather than endure market corrections. However, there is still the possibility of new buyers entering the market during price declines, thereby mitigating the impact.
BERA: Berachain Starts Shifting Focus on Revenue
The Berachain mainnet is currently readjusting its revenue sources through its "liquidity proof" model, reinvesting protocol fees into liquidity over the next few weeks. This shift in revenue may attract yield-focused capital, thereby driving up the price of BERA.
However, the momentum depends on the actual revenue traction and the alts market's response to changes.
SNX: Synthetix exchange is set to launch on Ethereum
At the beginning of this month, Synthetix announced the launch of its first perpetual futures DEX mainnet on Ethereum. Although the project has not disclosed a specific date for the platform's launch, altcoin market traders expect that date to arrive soon.
For SNX, as users migrate their positions and liquidity back to Ethereum, real-time trading activity may reignite demand. This move may also strengthen SNX's governance and the fee tier structure linked to the holdings.