Do not trade these 3 cryptocurrencies next week

欧易(OKX)

用戶喜愛的交易所

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币安(Binance)

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Most cryptocurrency tokens have an ongoing distribution, which includes locked tokens under vesting contracts or pre-approved marketing strategies. Avoid trading these cryptocurrencies in the week of the token unlocks can partaken solid risk management planning.Usually, traders overlook distribution aspects and cliff unlocks, which can become an expensive mistake during scheduled sell-offs.In particular, the release of vesting contracts often means strategic sell-offs in the days or weeks following unlock. The same applies to community or marketing funds, meaning relevant liquidations and temporary selling pressure.Finbold consulted cliff unlocks from TokenUnlocksApp on March 2, finding three cryptocurrencies to avoid trading next week. In total, the market will unlock $70.64 million worth of tokens in the next seven days.Sui Network’s (SUI) community access program unlockFirst, Sui Network (SUI) amounts to nearly 80% of the next 7-day cliff unlocks, and speculators should avoid trading it. The layer-1 scalable blockchain is releasing 34.62 million SUI for its “Community Access Program,” worth $56.08 million.Interestingly, this unlock might include “General Sale via Select Exchanges,” according to the program landing page.Avoid trading Galxe (GAL) next weekSecond, investors should avoid trading Galxe (GAL), a $360 million capitalization cryptocurrency with an unlock set to March 4. There will be an influx of over 2.03 million GAL, worth $7.03 million.The “Team” and the “Foundation” will get the most out of it, unlocking 1.44 million GAL, worth $5.02 million. Later, the “Community” will see a release of over $2 million worth of tokens arbitrarily distributed by the Foundation.Hashflow (HFT) next week’s token unlockFinally, Hashflow (HFT) is a decentralized exchange protocol that will unlock 13.62 million HFT worth $6.37 million. It is worth noting that Hashflow has a small market cap of nearly $170 million, which makes this the most significant cliff unlock of the three cryptocurrencies to avoid trading next week.Distribution is heavily weighted toward the “Core Team” and marketing strategies through “Ecosystem Development.” Thus, it is also under the team’s control, similar to “Community Rewards.” In summary, the team will have nearly $4 million worth of tokens available to spend and sell after the unlock on March 6.“Early Investors” will receive 5.21 million HFT worth $2.44 million.Investors must be cautious and avoid excessive exposure to projects with an ongoing distribution. However, these cryptocurrencies can still perform well in the following days despite the expected sell-offs. The cryptocurrency market is highly volatile and unpredictable, meaning everything can happen in the short term.#TrendingTopic

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