$200 mln token unlock this week: Arbitrum, Axie Infinity lead the pack

As a seasoned researcher with years of experience in the cryptocurrency market, I find myself both excited and cautious as October unfolds with a plethora of token unlock events. With over $1 billion worth of tokens set to hit the market this month, it’s a veritable gold rush for investors and traders.

This October is expected to witness a number of substantial token unlocking occasions, as over a billion dollars’ worth of tokens are scheduled for release.

This week, we’ve already launched certain tokens, but there are significant upcoming projects like Arbitrum [ARB] and Cardano [ADA] still on the schedule.

Arbitrum, Axie Infinity, Eigen lead

Based on information from Token Unlocks, some notable projects are expected to experience substantial releases or distributions of tokens within the upcoming period.

Arbitrum takes the front position, gearing up for the biggest token release this week. Roughly 96 million ARB tokens, with a market value of approximately $51 million, are scheduled to be distributed. This represents about 2.65% of the total ARB token supply.

This event could have a considerable impact on Arbitrum’s price and market dynamics.

This upcoming week will see Axie Infinity [AXS] distribute approximately 9.25 million AXS tokens, valued at around $43 million. These tokens comprise about 6.08% of the total AXS supply, making it one of the largest token events in this timeframe.

Coming up next is Eigenlayer [EIGEN], an occurrence that will unveil approximately 11.22 million tokens valued over $40 million. This represents about 6.01% of the total token supply, making it the third-largest event for the week in terms of magnitude.

Observers in the investment and trading world will keep a close eye on how the introduction of these newly-minted tokens affects market dynamics.

Other notable token unlock events to watch

Beyond the significant Token releases I’ve already mentioned, there are more projects scheduled for launch this week. Notably, Starknet [STRK], ApeCoin [APE], and Cardano are some of the highly anticipated ones.

Starknet plans to distribute 64 million STRK tokens, which are estimated to be worth around $27.3 million. This amount makes up about 3.30% of the total tokens in circulation.

Additionally, there are approximately 15.6 million APE tokens, valued at roughly $11.42 million, set to be released. This represents about 2.31% of the total supply.

For Cardano, 18.53 million ADA tokens will be unlocked this week, valued at around $6.4 million.

Although it’s not as large as certain other initiatives, the Cardano event remains important due to its contribution of liquidity to the market. This added liquidity could potentially influence the direction of ADA‘s price fluctuations.

Linear unlocks also scheduled

Besides the scheduled cliff-like unlocking events, various projects are also undergoing gradual or linear unlocking processes this week.

Gradually, tokens for Worldcoin (WLD), Solana (SOL), Dogecoin (DOGE), and Sui (SUI) will be rolled out, influencing the market behavior of these cryptocurrencies progressively.

37.23 million Worldcoin tokens, valued at more than $85 million, will be distributed this week, marking the biggest linear event for the platform. Solana follows closely with approximately 524,000 tokens, worth almost $80 million, being made available.

2024-10-15 02:15

Arbitrum, Axie Infinity, Eigen lead

Other notable token unlock events to watch

Linear unlocks also scheduled

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