Don’t Buy THESE Altcoins! Massive Crypto Unlocks

We’re talking about over $3 billion worth of tokens flooding the market this February. This is not as massive as January, but still enough to shake things up.

Some tokens could struggle under pressure, while others might hold strong. Should you sell, hold, or buy the dip? Stick around to know more about these crypto unlocks.

1) SEI

SEI is a popular name for those into high-speed trading and DeFi.  Sei is a Layer 1 blockchain built specifically for trading applications. Now, they’ve got an unlock coming on February 15. They plan to release about 55.56 million SEI tokens, worth about $12.72 million. And the entire allocation is going to the team.

So far, Sei has unlocked 35% of its total supply, but here’s the concern—the token is already down over 40% in the last 30 days. More tokens entering circulation, especially when the market is weak, could add even more selling pressure. Let’s look out for this one.  That’s it. So, are you holding, buying, or selling? Tell us in the comments.

2) The Sandbox (SAND)

Next up, we’ve got Sandbox. If you’re into the metaverse, you already know the name. It’s one of the biggest players in the space and the second-largest metaverse token. They’ve got nearly a $1 billion market cap. Now, Sandbox has a big token unlock coming on February 14. They are pushing out 205.59 million SAND tokens, worth almost $79.2 million.

Most of this is going to the team, advisors, and company reserve, basically rewarding early contributors and keeping the project moving forward. But here’s the problem—this is happening at a pretty rough time. SAND is already down 35% this past month, and now, with even more tokens entering circulation, it could add more pressure to the price. One to keep an eye on.

On the flip side, 93% of SAND’s total supply is already unlocked. What does that mean? Well, most of the tokens are already out there, so we’re not looking at a future flood of supply.  That’s a good thing in terms of avoiding major dilution, but it also means the market is already feeling most of the pressure from circulating tokens. SAND is one to watch.

3) Polyhedra Network (ZKJ)

Polyhedra Network is all about interoperability and zero-knowledge (ZK) tech. They make it easier for assets and data to move securely between blockchains. They’ve got an unlock coming on February 12. About 17.22 million ZKJ tokens, worth about $35.48 million will hit the market. Here’s how the allocation breaks down:

1. Community airdrop and other activities: 4.17 million ZKJ. That’s around 6.90% of the circulating supply, worth $8.58 million.
2. Foundation reserves: 4.17 million ZKJ. About 6.90% of the circulating supply, worth $8.58 million.
3. Ecosystem and network incentives: 8.89 million ZKJ. That’s 14.72% of the circulating supply, worth $18.31 million.

Their last unlock was just a month ago, and interestingly, the token has been up since then. So this unlock might not be as concerning as others.

4) Cheele (CHEEL)

The first major unlock is from Cheelee. Cheelee is a crypto-powered video platform where you get rewarded for watching and interacting with content. It runs on the BNB Smart Chain and mixes in NFTs and GameFi elements.  Now, Cheelee is about to unlock 20.81 million CHEEL tokens on February 13. And these tokens are worth roughly $164.21 million. 

If that sounds like a lot, well, their last unlock was just last month, on January 13, but the price stayed pretty stable afterward. CHEEL held around the $8 range, dipping into the $7s occasionally. But that was more due to the overall market slowdown than the unlock itself.

So, how’s this February unlock being allocated? Here’s the breakdown:

• Cheelee Rewards: 10.58 million CHEEL (~$83.50M)
• Community Drop: 36.72k CHEEL (~$289.71k)
• Liquidity (Remaining): 2.64 million CHEEL (~$20.82M)
• Marketing (Remaining): 7.55 million CHEEL (~$59.60M)

They have big numbers, but the last unlock didn’t shake things up much. So, will this one? Let’s see how the market reacts.

5) Connex (CONX)

One of the big token unlocks this week is coming from Connex. Connex is a Web3 professional network aiming to build a decentralized space for job seekers and employers.  On February 15, they’re unlocking 4.33 million CONX—that’s a massive 376.30% of the circulating supply, valued at $88.32 million. Here’s how it’s being split:

• Team: 1.00M CONX (~$20.41M)
• Foundation: 1.00M CONX (~$20.41M)
• Marketing: 705K CONX (~$14.39M)
• Advisors & Partners: 300K CONX (~$6.12M)
• Ecosystem: 822.5K CONX (~$16.79M)
• Community Treasury: 500K CONX (~$10.21M)

The last time they did an unlock, on January 15, the price stayed pretty steady, moving between $20 and $21. But here’s something to watch: Tokenomist.ai flagged that the circulating supply for CONX has been fixed for over a year, which could be a red flag. If you’re holding or trading, stay sharp.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.