Crypto Stream analyst posted a crucial tweet today, urging caution for token holders of JTO, TIA, ONDO, ZETA, PORTAL, STG, and WLD. The reason? Massive token unlocks scheduled in the near future for these altcoins.
Upcoming Token Unlocks
Let’s break down the upcoming unlocks for each token:
$JTO (Jito): A staggering 166% supply increase is expected in the next 6 months. A significant cliff is scheduled for December 7, primarily affecting Investors and Core Contributors.
$TIA (Celestia): Prepare for a 145% supply increase over the next 6 months. The most notable event is a large cliff on October 31, which alone will increase the supply by 80%.
$ONDO: A 134% supply increase is on the horizon for the next 6 months. Mark your calendars for January 18, when a huge cliff will occur, mainly impacting the Ecosystem but also some Investors.
$ZETA: An 82% supply increase is expected in the next 6 months. Unlocks happen monthly, with Contributors receiving 32% of the circulating supply.
$PORTAL: Look out for a 115% supply increase over the next 6 months. This will come in the form of linear unlocks for both Private and Public Sale Investors.
$STG: A more modest 42% supply increase is scheduled for the next 6 months. These will be linear unlocks distributed to the team and investors.
$WLD: Expect a 37.5% supply increase in just the next 30 days. These are mostly linear unlocks for “Community” and Investors.
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Show more +Show less – Why Caution is Advised
The analyst’s warning to token holders stems from the potential market impact of these significant supply increases. When a large number of tokens are unlocked and enter circulation, it can lead to increased selling pressure. This is especially true if early investors or team members decide to liquidate their holdings.
Notice the size of the $TIA Cliff.It accounts for ~30% of all unlocks in October.$752m unlock in 1 day. pic.twitter.com/pSrfwGij2N
— Crypto Stream (@CryptoStreamHub) September 10, 2024
Such increases in circulating supply can potentially dilute the value of existing tokens. For instance, Celestia’s (TIA) 80% supply increase on a single day could dramatically shift market dynamics. Similarly, Jito’s (JTO) 166% increase over six months might lead to prolonged downward pressure on the token’s price.
It’s worth noting that the analyst also ponders whether these “gigantic token unlocks” might influence Bitcoin’s dominance in the market. This suggests that as altcoin supplies increase significantly, investors might shift their focus back to Bitcoin, potentially increasing its market share.
Read also: Bitcoin Price Breaks $57K – Will September Be A ‘Fake-Breakdown’ Month For BTC?
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The post Holders Of These Tokens, BE CAREFUL – Massive Unlocks Coming For Jito (JTO), Celestia (TIA), ONDO, and Others appeared first on CaptainAltcoin.
