Altcoins Face an Early Crypto Winter, Mainly Due to the Large Token Unlocks in 2024

AccordingtotheBloomberg,early-stageprojectinvestorsseektoselltheirreceivedtokensfast,wantingtolockinshort-termprofits.

Alargevolumeoftokensisexpectedtobeunlockedin2024,puttingpressureonthealtcoinmarketandleadingtoasell-offofcryptocurrencies.Thissell-offiscontributingtothebroadercryptowinter,withthe115mostprominentaltcoinsfallinginpricebymorethan50%sincetheir2024peaks.Thesell-offofaltcoinsisoccurringdespiterelativeresilienceshownbythetwoflagshipcryptocurrencies,Bitcoin(BTC)andEthereum(ETH),whicharedown11%and13%,respectively,fromtheirpeaksthisyear.Thesell-offofaltcoinsisalsooccurringasinvestorsareshowinggrowinginterestinartificialintelligence(AI).Thisinterestisleadingtoasell-offofcryptocurrenciesandadropinprices,asinvestorsareshiftingtheirfundsfromcryptotoAI.

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