As the market anticipates a potential rate cut in September, crypto investors should take this opportunity to reassess their portfolios and eliminate any underperforming altcoins. A critical metric for deciding which altcoins to sell is the identification of significant Venture capital (VC) emissions, as this event could ramp up the supply pressure in the market.
3 Altcoins to Sell as Major Token Unlocks Loom
VC emissions refer to the gradual release of tokens allocated to early investors, such as venture capitalists or team members. These tokens are subjected to a vesting period, meaning they are locked up for a certain period and released gradually. The method ensures a considerable amount of supply pressure does not enter the market and puts selling pressure on the asset.
VC emissions can substantially impact an asset’s price direction, as the release of tokens can directly affect the supply and demand dynamics. Typically, when a large number of tokens are released, the increasing supply presence can outweigh the demand and exert downward pressure on the asset.
The data from Crypto StreamHub highlights key VC emissions for several tokens over the next six months. Among them, the top altcoins to sell are:
Worldcoin (WLD) Ondo (ONDO) Jito (JTO)
6 month-emissions of mentioned VC Tokens:$ZRO: 0% Increase$SUI: 18% Increase (Cliff on every 1st)$CHR: 3.36% Increase$NEAR: 6.90% Increase$JTO: 168% Increase (Cliff in December)$TON: not comparable (Pre mine phase)$TAO: 18% Increase$TIA: 147% Increase (Cliff end of Oct)… https://t.co/W0cEC0HWfK
— Crypto Stream (@CryptoStreamHub) September 15, 2024
Worldcoin (WLD)
The WLD price falling for four consecutive days has plunged from $1.62 to $1.4, accounting for a 13% loss. Consecutively, the Worldcoin market cap dropped to $610.73 Million. With sustained selling, this coin price could plunge 8% before challenging the major support of $1.3.
As Worldcoin is poised for a significant 218% increase in token supply, the sellers could breach the bottom support to drive a 24% fall to $0.97.
WLD/USDT -1d Chart
On the contrary, Worldcoin price may show recovery attempt as WorldID integrates into the Solana ecosystem.
Ondo (ONDO)
ONDO is the native token of Ondo Finance, a decentralized finance (DeFi) platform that focuses on providing innovative investment products. Within four months, the ONDO price showcased a notable correction trend from $1.48 to $0.598, registering a 60% loss.
Among the altcoins to sell, the ONDO price is poised for an 8.4% drop before facing multi-month support of $0.538. As this token will experience a 134.82% increase in supply, the sellers could attempt a $0.538 breakdown to chase $0.38 support, followed by $0.318.
ONDO/USDT -1d Chart
Jito (JTO)
The Jito coin stands last in our altcoin to sell cryptocurrencies, currently trading at $1.89 and a market cap of $240.6 Million. The JTO price trading view chart shows a symmetrical triangle pattern formation.
The coin price is 2% away from testing a breakdown below the lower trendline of the triangle pattern. As Jito coin is set for a 168% increase in emissions by December, the sellers could break the bottom support and drive an extended correction to $1.65, followed by $1.37.
JTO/USD -1d Chart
However, for a detailed analysis of performing coins, check our top altcoin to buy article.
The post 3 Worst Altcoins To Sell Ahead of Next Bull Run appeared first on CoinGape.
