3 cryptocurrencies to avoid trading next week:
1. Aptos (APT): Aptos is scheduled to conduct an unlock on September 12, releasing 11.31 million tokens into the market. This token unlock could potentially increase the circulating supply, leading to downward price pressure. Despite recent developments, Aptos’ price movement has been subdued.
2. Conflux (CFX): Conflux is also set for an unlock on September 9, releasing 87.49 million CFX tokens. Currently, the token is undergoing a significant price correction. However, in the long term, Conflux has bullish prospects due to potential high-profile partnerships, such as the collaboration with Alibaba Cloud.
3. Cheelee (CHEEL): Cheelee is preparing for another token unlock on September 10, releasing about 11.66 million CHEEL tokens, which represents 21% of its market cap. This unlock coincides with Cheelee struggling to break through key resistance levels, making it a risky investment option.
Please note that investing in these cryptocurrencies involves speculative risks, and the market is currently experiencing a notable outflow of capital. This information should not be considered investment advice, and investors should be aware that their capital is at risk.