The cryptocurrency market is gearing up for a wave of token unlocks, as Bitcoin (BTC) recently surged past the $66,000 psychological barrier. However, the weekend saw a dip in many altcoin projects. Now, as we enter a new week, 19 altcoins are preparing for significant token unlocks that could shake up the market. Investors are closely watching these developments to adjust their strategies accordingly. Here’s what to expect from this week and the end of the month.
September 30, 2024: Major Unlocks Begin
On September 30, the market will see some of the most notable token unlocks. Leading the charge is Optimism (OP), with a market cap of $2.39 billion and a token release worth $45.95 million. Following closely is Worldcoin (WLD), set to unlock $7.15 million in tokens, drawing interest from investors. Echelon Prime (PRIME), with a market cap of $381.35 million, will unlock $17.86 million in tokens, while Celo (CELO) will release $1.28 million worth of tokens.
Also noteworthy are Illuvium (ILV) with a $1.73 million token unlock and Step Finance (STEP) unlocking $1.51 million. Later in the day, Beta Finance (BETA) will release $1.74 million worth of tokens, catching investors’ attention with a 4.18% unlock rate. Additionally, Sei (SEI) will unlock $2.60 million worth of tokens, adding to the market activity.
October 1-2: More Altcoin Projects Unlock Tokens
October 1 will see Save (SLND) and Hooked Protocol (HOOK) unlocking tokens, exciting investors. SLND, with a market cap of $27.88 million, will release $1.55 million worth of tokens, while HOOK will unlock $4.17 million, representing a 4.50% increase. dYdX (DYDX) will also catch attention with a $16.33 million token unlock.
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On October 2, Orbler (ORBR) and Biconomy (BICO) will lead the way with token releases. ORBR plans to unlock $10.86 million worth of tokens, while BICO will release $1.92 million. Ethena Labs (ENA) will also create a stir with a $21.10 million token unlock.
October 3-6: The Big Unlocks Continue
October 3 will be a significant day for Decentral Games (DG), which will unlock a massive $103.56 million in tokens, marking one of the month’s largest events. On October 4, Immutable (IMX) and Mines of Dalarnia (DAR) will also see unlocks, with IMX releasing $50.73 million and DAR unlocking $1.62 million.
Altcoin Investors Face a Crucial Week
As reported by The Bit Journal, these altcoin token unlocks could lead to significant market volatility. Investors are carefully monitoring how these unlocks will affect prices and shaping their strategies accordingly. With so much movement in the market, it’s clear that this week will be pivotal for many altcoin projects.
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