Aptos, CFX, and Cheelee: Top Cryptocurrencies to Avoid Trading Next Week

Heightened Volatility Ahead for Aptos, CFX, and Cheelee

As cryptocurrency markets undergo corrections, several digital assets present investment opportunities. However, this strategy does not apply to all assets, leading to potential risks with Aptos, CFX, and Cheelee in the coming week.

Risks from Token Unlocks

Upcoming token unlocks may significantly impact the prices of these cryptocurrencies. An increase in the circulating supply typically leads to downward price pressure.

• Aptos (APT)
  Scheduled unlock on September 12 will release 11.31 million tokens, affecting 2.32% of its market cap of $65.57 million. APT currently trades at $5.78 after a 14% decline over the past week.
• Conflux (CFX)
  Unlock on September 9 will release 87.49 million tokens, which constitute 2.01% of its market cap. CFX is currently valued at $0.125, having dropped over 7% recently.
• Cheelee (CHEEL)
  With another unlock on September 10 expected to release 11.66 million tokens, Cheelee faces challenges as it strives to reclaim the $20 level.

Investors should be cautious with these cryptocurrencies as they might experience increased volatility due to market conditions.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative and carries risks.