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10x Research warns: $2 billion worth of tokens will be unlocked in the next ten weeks

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10x Research warns: $2 billion worth of tokens will be unlocked in the next ten weeks

10x Research analyst Markus Thielen warns that the current cryptocurrency bull market cycle may be shorter than previous ones, and a widespread surge in altcoins is unlikely. This is because nearly $2 billion worth of tokens are set to be unlocked in the next ten weeks.

This Bull Market is Not Dominated by Altcoins

10x Research issued a report in mid-April stating that they have cleared out their holdings in tech stocks and cryptocurrencies, with plans to re-enter at lower price levels. Thielen also mentioned that this bull market is very different. The previous bull market was the DeFi summer, where altcoins took the spotlight, but this time it is more or less concentrated on Bitcoin.

According to his tweets, he speculates that this cryptocurrency bull market cycle may be shorter than previous cycles and is less likely to result in a widespread surge in altcoins. Despite daily trading volumes exceeding $100 billion, rapid developments in the cryptocurrency space, the industry's growth potential still faces significant limitations.

Thielen mentioned that challenges facing the cryptocurrency market may limit the breadth and duration of the bullish market. Especially within the next ten weeks, the rapid unlocking of nearly $2 billion in tokens could put pressure on the altcoin market.

Binance Research Also Warns of Billion-Dollar Unlockings in May

According to a April research report released by Binance, the top ten tokens set to unlock in May amount to $1 billion, with the largest being AVAX at $330 million, while MEME and APT also exceed $100 million. MEME's unlocking amount is over 30% of its total supply, and DYDX is as high as 11%.