Crypto users expect massive token unlocks this October.
IMX declined 11% following a token release in early October.
Sui, Aptos, Axie Infinity, Arbitrum, and Celestia plan to unlock new tokens in October.
Crypto users expect massive token unlocks this October that could affect the prices of related cryptocurrencies. Less than two weeks into the month, some crypto projects have already experienced an influx of new tokens, with notable impacts on their overall value. One such token is Immutable X (IMX), which an Altcoin Buzz analyst highlighted lost about 11% value during a recent podcast.
According to the analysts, over $2 billion worth of new tokens are expected to hit the crypto market in October, with roughly $300 million released in the first week alone. Sui’s $115 million token release was the largest in the first week of October.
Token Unlocks and Price Action: What to Expect
Traders and analysts closely watch token unlock schedules to anticipate market trends. Given the basic principles of supply and demand, analysts believe that introducing more tokens into the market can lead to price drops for the affected cryptocurrencies. The Altcoin Buzz hos…
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