The most notable token unlock schedule next week (October 21 - October 27)!
We are almost two-thirds through October. True to its “Up to ber” title, BTC (Bitcoin) has seen an impressive recovery from the $59,000 region to nearly $69,000 at the time of writing.
Since the beginning of the month, BTC has increased by 7.6% and extended its green streak in October to 6 consecutive years - according to data from Coinglass.
However, one thing that makes many investors wonder is that Altcoins are still not very positive despite BTC's steady increase. Part of the reason for this phenomenon is that Altcoins often face great unlocking pressure while Bitcoin does not.
In this article, let's learn about important token unlocks & notes when trading next week (October 21 - October 27) with TradeCoinVN!
1. Notable token unlocks next week (October 21 - October 27)
Next week (October 21-27) will see approximately $691.6 million worth of tokens unlocked. This is about 21% higher than this week’s $589 million (October 13-20), partly due to the strong price increases of many coins over the past week.
Next week, $264.2 million will be unlocked via cliff unlocking, with the most notable coins being ADA (Cardano), ENA (Ethena), and YGG (Yield Guild Games). Cliff Unlocking is a one-time token unlock, meaning all tokens will be unlocked at a predetermined time.
Details of the cliff unlocks are as follows:
October 22: Cardano unlocks 18.53 million ADA tokens (0.05% of circulating supply), worth $6.6 million
October 22: Space ID unlocks 18.49 million ID tokens (4.29% of circulating supply), worth $7 million
October 23: Ethena unlocks 12.86 million ENA tokens (0.47% of circulating supply), worth $5.3 million
October 27: Yield Guild Games unlocks 14.08 million YGG tokens (3.64% of circulating supply), worth $7.6 million
Readers can refer to the detailed token unlock schedule on reputable websites such as CryptoRank, Token Unlocks, ... It should be noted that the Token Unlocks website has recently been renamed to Tokenomist, so it will have a quite new interface.
2. Things to note when trading next week (October 21 - October 27)
Overall, next week (October 21 - October 27) will have almost no cliff unlocks worth more than $10 million.
Investors in ID and YGG should also note that the unlock could increase supply by 4% - 5%, which could have a certain impact on Token price.
In addition to the cliff unlocks, investors should pay attention to the large linear unlocks from Worldcoin (WLD), Solana (SOL) & Bittensor (TAO). The specific information is as follows:
Worldcoin to linearly unlock 5.32 million WLD ($11.8 million) per day next week - total value $82.5 million
Solana to linearly unlock 66,540 SOL ($11.5M) per day next week - total value $80.5M
Bittensor linearly unlocks 10,200 TAO ($4.1M) per day next week - total value $28.5M
