Token unlocks Bring on an Early Crypto Winter for Many Altcoins

Selling by some initial investors and founders in various projects appears to be helping to bring on an early “crypto winter” for digital tokens such as Avalanche, DYDX and PYTH that are dubbed altcoins.

Since Bitcoin’s price peaked in March, the market capitalization of altcoins other than Ether or stablecoins has fallen by almost 30%, according to crypto market data tracker CoinMarketCap. In the early days of crypto, all tokens besides Bitcoin were slapped with the nickname because they were an alternative to the original digital currency, which still commands more than 50% of the estimated $2.4 trillion digital-asset market.