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October 22, 2024

Token Unlocks Worth $407M in the Next 7 Days 21st~28th Oct

In this week 21st~28th Oct, several token unlock events are set to release a total of $407M into the market. These unlocks can have significant effects on token supply, price, and market behavior, especially for Layer 1 projects. Let’s dive into the details of the major unlocks happening within the next 7 days.

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Key One-Time Unlock Events:

Several projects will release around $5M worth of tokens in single unlock events. These projects are notable for their market impact, especially in terms of liquidity shifts. The tokens being unlocked include:

  1. MRS (Mars Ecosystem): Unlocking liquidity that might impact decentralized finance (DeFi) activities tied to Mars.
  2. ADA (Cardano): One of the largest blockchain projects. ADA unlock could lead to higher trading volumes.
  3. APEX (ApeX Protocol): Unlock for this decentralized perpetual contracts protocol may bring increased trading volumes.
  4. MURA (MurAll): Art-focused project token unlock that could see speculative movement.
  5. AITECH (Solidus Ai Tech): Unlock could trigger movement in AI-driven blockchain projects.
  6. ID (SPACE ID): Significant unlock for decentralized identity protocol.
  7. YGG (Yield Guild Games): Gaming guild’s unlock could increase token circulation in the play-to-earn ecosystem.
  8. KARRAT: A less-known token but with potential speculative price swings.
  9. TRIBL (Tribal Credit): Unlock event could influence the cross-border payments ecosystem.
  10. ENA (Enjin Airdrop): Could stir market activity in NFT and gaming spaces.

Key Linear Unlock Events:

Several major tokens are undergoing linear unlocks over the next week. These tokens, especially from Layer 1 blockchain networks, are being gradually released, which may influence overall market behavior:

  1. WLD (Worldcoin): This token is seeing a scheduled linear unlock, which could affect its liquidity.
  2. SOL (Solana): Solana’s steady unlock continues. Given Solana’s significance in DeFi and NFT spaces, this unlock could impact trading volumes and liquidity.
  3. TAO (Lamden): Gradual unlocking of TAO tokens may shift the dynamics in its ecosystem.
  4. AVAX (Avalanche): A major Layer 1 blockchain, Avalanche’s token unlock could increase circulating supply and influence price action.
  5. SEI (Sei Network): Unlocks for this DeFi-focused project could increase liquidity and market activity.
  6. NEAR (Near Protocol): As a Layer 1 blockchain, NEAR's unlock event could have a noticeable market impact.
  7. DOT (Polkadot): Polkadot’s token unlock continues to play a key role in its staking and governance system.
  8. DOGE (Dogecoin): The unlock could stir trading interest in the meme coin, with potential market volatility.
  9. SUI (Sui): Newer Layer 1 blockchain with ongoing linear unlocks that may influence speculative trading.
  10. FIL (Filecoin): Gradual unlock could bring more liquidity to this decentralized storage project.
  11. BEAM: Privacy-focused BEAM unlocks could draw attention to privacy coins in the upcoming days.

Market Impact:

The combination of these one-time and linear unlocks may have the following effects:

  • Increased supply in the market for multiple Layer 1 blockchains.
  • Potential price volatility as investors react to the new tokens entering circulation.
  • Potential for short-term dips in prices as unlock events often lead to sell-offs.
  • However, some projects may see bullish behavior if investors see long-term value in the unlocked tokens.

Takeaways:

  • Monitor liquidity shifts around the projects undergoing unlocks, especially Layer 1 blockchains like Solana, Avalanche, and Near Protocol.
  • Watch for price volatility around major unlock events. Traders may want to capitalize on potential dips or spikes.
  • Stay updated on project roadmaps, as token unlocks are often aligned with project milestones, which can affect price action.

In Conclusion:Token unlock events are significant for the crypto market, particularly with such a large combined value of $407M scheduled for release. These events should be closely monitored for their potential to cause market fluctuations, especially for major Layer 1 blockchains and well-known tokens.

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