As The Bit Journal reported, the crypto market saw a notable rise last week, led by Bitcoin, which gained nearly 10% in value. This week, however, the focus shifts to the altcoin market, where several important token unlock events will take place. These unlocks could have a significant impact on altcoin prices, presenting new opportunities for investors. How these unlocks will affect the market remains to be seen, but here are the key events to watch this week.
October 21, 2024: WLD, XPLA, LAZIO, ML, FP, and SEI Unlocks
The week begins with token unlocks for World (WLD) and XPLA (XPLA). WLD will unlock $8.22 million worth of tokens, adding 0.62% to its circulating supply. Meanwhile, XPLA will unlock $1.81 million in tokens, increasing its supply by 2.69%. These unlocks could lead to noticeable shifts in altcoin prices as the market absorbs the new supply.
The Lazio Fan Token (LAZIO) will be one of the most closely watched tokens this week. LAZIO is unlocking $5.33 million worth of tokens, representing 40.92% of its total market cap. This large unlock could create significant price movement, and investors should monitor it closely.
Other notable unlocks on Monday include Mintlayer (ML), unlocking $1.56 million worth of tokens (17.10% of total supply), and Forgotten Playland (FP), unlocking a significant 64.02% of its supply. Sei (SEI) will unlock $2.36 million, representing 0.14% of its market cap.
October 22, 2024: ZKL and ID Unlocks
On Tuesday, two key token unlocks will occur: ZkLink (ZKL) and Space ID (ID). ZKL will unlock $1.98 million worth of tokens, adding 7.82% to its circulating supply. This high percentage of new supply could trigger price volatility in the market, presenting both opportunities and risks for investors.
Space ID (ID) will unlock $7.57 million worth of tokens, equivalent to 2.47% of its market cap. Investors should keep a close eye on this event as it could influence the broader market trend for altcoins.
October 23, 2024: FIDA, WELL, C98, and FLIP Unlocks
Wednesday will see token unlocks for Solana Name Service (FIDA), Moonwell (WELL), Coin98 (C98), and Chainflip (FLIP). FIDA will unlock $4.56 million in tokens, representing 8.54% of its market cap. This could lead to significant market movement.
Moonwell (WELL) will unlock $2.45 million worth of tokens, accounting for 1.34% of its total supply. Coin98 (C98) will unlock $2.29 million in tokens, while Chainflip (FLIP) will unlock $1.77 million, representing 3.23% of its market cap. These unlocks could cause short-term price fluctuations, so investors are advised to stay alert.
October 24-27, 2024: RBN, VENOM, H2O, PTU, GT, AXL, and YGG Unlocks
Thursday brings a series of important token unlocks, including Ribbon Finance (RBN), which will unlock $4.15 million worth of tokens, representing 9.14% of its market cap. Venom (VENOM) will unlock $3.01 million in tokens, while H2O Dao (H2O) will unlock $1.37 million, adding 1.01% to its circulating supply.
The largest unlock of the week will be from GateToken (GT), with $60.02 million worth of tokens set to be unlocked, representing 7.33% of its total market cap. Axelar (AXL) will also unlock $21.24 million worth of tokens, and Yield Guild Games (YGG) will close the week with a $5.01 million unlock. Monitoring these events closely will be crucial for anyone involved in the altcoin market.
As we enter this event-filled week, the impact of these token unlocks on the altcoin market will be key. Will they lead to price swings, new opportunities, or risks? Investors will need to stay vigilant and closely monitor market developments.
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