About $5 billion in crypto tokens, including TIA, EIGEN, and SOL, will be unlocked next week.
EIGEN faces setbacks from a $6 million hack and significant venture capital sell-offs.
Solana’s DeFi ecosystem surpasses $6 billion in Total Value Locked, marking strong growth.
Nearly $5 billion worth of cryptocurrency will be unlocked on October 24th, with major tokens like Celestia (TIA), EIGEN, and Solana (SOL) among the largest contributors. According to data from Tokenomist, TIA leads this event, releasing $1.11 billion worth of tokens into circulation.
This major unlock has caught the eye of traders, especially those closely watching TIA’s price movements. One trader observed that TIA has been performing well, with a possible target price of $7 over the coming days if the positive trend continues.
However, he also pointed out concerns about high funding rates, possibly influenced by the upcoming unlock, which has caused some traders to hedge their positions by shorting the token.
EIGEN Faces Challenges Following Hack and Sell-Offs
EIGEN is another major token in the upcoming unlock, with $814.27 million in new supply set to be released. However, the …
The post $5 Billion Crypto Unlock Could Shake Markets This October appeared first on Coin Edition.
