The Crypto Market Prepares for an Alarming Bearish Wave as Certain Altcoins Stand Primed to Face Massive Token Unlocks in the Coming Week

The crypto market prepares for an alarming bearish wave as certain altcoins stand primed to face massive token unlocks in the coming week.

Several cryptocurrencies are preparing for substantial token unlocks in the upcoming week, which could significantly impact their prices.

According to data from the Token Unlocks App, Aptos (APT), EigenLayer (EIGEN), Optimism (OP), Neon (NEON), Cardano (ADA), Xai (XAI), Mode (MODE), Ethena (ENA), io.net (IO), Hashflow (HFT), Moonbeam (GLMR), Euler (EUL), 1inch (1INCH), and Forta (FORT) are set to experience increased supply.

These unlocks, totaling over $213 million in value, may lead to sell-off sentiments among traders and investors seeking to avoid potential losses.

Here's a brief overview of the upcoming token unlocks:

Aptos (APT): 11.31 million APT tokens will be unlocked on October 11, valued at approximately $101.22 million. This massive unlock, equivalent to 2.25% of APT's circulating supply, has raised concerns among market participants about its impact on the token's price. However, at the time of writing, APT price showed a slight increase, trading at $8.95 with an intraday low of $8.76 and a high of $9.29, and up nearly 1% in the past 24 hours.

EigenLayer (EIGEN): EIGEN is preparing for a cliff unlock of 9.93 million tokens, valued at around $33.67 million, on October 8. This unlock, equivalent to 5.32% of EIGEN's circulating supply, poses a risk to the token's price. At the time of writing, EIGEN price was trading at $3.39, down 0.59% in the past 24 hours, with an intraday low of $3.32 and a high of $3.70.

Optimism (OP): Optimism is set to experience an unlock of 12.47 million OP tokens, valued at approximately $20.33 million, on October 10. This unlock is equivalent to 0.99% of OP's circulating supply. At the time of writing, OP price was trading at $1.62, up over 4% in the past 24 hours, with an intraday low of $1.54 and a high of $1.63.

Neon (NEON): Data indicates that Neon is preparing for a substantial unlock of 53.91 million NEON tokens, valued at approximately $19.66 million, on October 7. This massive unlock, equivalent to a whopping 93.43% of NEON's total circulating supply, has raised significant concerns among investors. However, at the time of writing, NEON price was showing resilience, surging nearly 10% to reach $0.3652, with an intraday low of $0.3323 and a high of $0.3647.

Cardano (ADA): Cardano is set to witness an unlock of 37.06 million ADA tokens, valued at approximately $13.11 million, on October 7. This unlock, equivalent to 0.10% of ADA's circulating supply, poses a minimal risk to the token's price. At the time of writing, ADA price was trading at $0.354, showing a gain of roughly 1%, with an intraday low of $0.3489 and a high of $0.3556.

Xai (XAI): XAI is preparing for an unlock of 35.88 million XAI tokens, valued at approximately $7.62 million, on October 9. This unlock, equivalent to 6.20% of XAI's circulating supply, poses a moderate risk to the token's price. At the time of writing, XAI price was showing a strong surge, pumping nearly 13% in the last 24 hours to reach $0.212, with an intraday low of $0.187 and a high of $0.2131.

Mode (MODE): MODE is primed to experience an unlock of 500 million MODE tokens, valued at approximately $5.64 million, on October 7. This unlock, equivalent to a substantial 38.46% of MODE's circulating supply, poses a significant risk to the token's price. At the time of writing, MODE price was trading at $0.01127, showing a marginal increase of 0.15% in the past 24 hours, with an intraday low of $0.0

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