TheupcomingseriesoftokenunlocksincludesprojectssuchasOptimism,Celestia,anddYdX,eachofwhichintendstoreleaseahugepercentageoftheirtokenswithinthenextfewdays.Theseupcomingtokenunlocksinthecryptocurrencymarketwillbequitesignificantbecauseseveralblockchainprojectsareabouttoreleasealargevolumeoftokensinthemarket.
MAJORUPCOMINGTOKENUNLOCKS
#Optimism$OP#SelfChain$SLF#Celestia$TIA#MaverickProtocol$MAV#dYdX$DYDX#HookedProtocol$HOOK#TARSProtocol$TAI#Sui$SUI#Neutron$NTRNpic.twitter.com/G7Y2aA2N2f—PHOENIX–CryptoNews&Analytics(@pnxgrp)October30,2024
Tokenunlocksusuallyhaveeffectsonthemarket,andespeciallywithlargepercentagesofthesupply,thesecouldleadtochangesinprices,theoverallmarketliquidity,andinvestorsentiment.
KeyTokenUnlocks:Optimism,SelfChain,andCelestia
ThesenexttokenunlockeventsstartwithOptimism(OP),whichisanestablishedLayer2scalingsolutionforEthereum.Optimismintendstounlock32.21MOPtokens,equivalentto0.75%ofitstotalsupply,withavalueof$55.75M.Pricedat$0.56each,itisscheduledforreleaseon31stOctober.
YetanothermajorprojectisSelfChain(SLF),whichplanstorelease1.52MSLFtokensonOctober31.WhilethisisasmallpercentageofSelfChain’stokenforatotalcirculatingsupply,theunlockedtokenshaveavalueofapproximately$459,830.Thesmallerpercentagemayeasemarketimpacts.However,itcontributestothetotalamountofSLFthatmayshiftshort-termtrading.
ThemostsignificantamountofvalueisprovidedbyCelestia(TIA),amodularblockchainplatformwithanemphasisonscalability.Celestiaistolaunch175.74MTIAtokens,whichmakes16.30%ofthetotalsupplyandisequalto$879.13M.TheCelestiatokenunlockistooccuronOctober31standisoneofthelargestinthisseries.
NovemberUnlocks:MaverickProtocol,dYdX,andHookedProtocol
AftertheunlocksinOctober,MaverickProtocolwillunlock15.52MMAVtokensonNovember1,whichis0.78%ofthetotalsupply,worthapproximately$2.53M.Eventhoughthisunlockissmall,itwillindeedexpandMAV’ssupplyincirculationandmayimpactitsshort-termpricemovements.
Onthesameday,adecentralizedtradingplatformbasedonEthereumcalleddYdX(DYDX)willfreeup8.33MDYDXtokensor1.84%ofsupplywithavalueof$8.64M.ConsideringdYdX’spositioningasaleadingdecentralizedfinance(DeFi)platform,thisreleasemayaffecttheplatform’sliquidityandtradingvolume.
Anothereducation-relatedblockchainproject,HookedProtocol(HOOK),isalsoplannedforunlockonNovember1,whichwillrelease8.33MHOOKtokensor1.67%ofthetotalsupplywithavalueof$3.38M.
OtherNotableTokenUnlocks:TARSProtocol,Sui,andNeutron
TARSProtocol(TAI)willhave28.59MTAItokensunlockedonNovember2,whichapproximatelyamountsto3.19%ofthetotalnumberoftokensandisvaluedat$3.98M.
TwomajorunlockswillfollowonNovember3:Sui(SUI)andNeutron(NTRN).SuiisaLayer1blockchainthatfocusesonscalabilityandperformance,whichaimstounlock81.91MSUItokens,whichis0.82%ofthetotalsupplyof$167.16M.Ontheotherhand,Neutronwillrelease9.96MNTRNtokens,whichis1.00%oftheproject’stotaltokensupply,withanestimatedvalueof$3.84M.
Unlockingtokensallowsinformationabouttheproject,itsactivity,investorattitude,thechancesforgrowth,orthevolatilityoftherate.Theseunlockswillbeanticipatedkeenlybythemarketplayers,thoughimplicationstotherestofthecryptomarketmaycomeaboutasaresultofre-strategizing.
blockchainreporter.net