In the ever-evolving world of cryptocurrencies, not only the price of Bitcoin (BTC) increased this week. At the same time, there was a significant increase in the value of various altcoins. As the week draws to a close, investors and enthusiasts are eagerly looking forward to a week full of potential as several popular altcoin projects prepare to unlock new opportunities. Here are the details…
This week, there are unlocks for many altcoins
Altcoins have seen increased interest this week, mirroring Bitcoin’s upward trajectory. Market analysts and experts predict that the momentum of altcoins will continue next week. However, it should not be forgotten that the performance of each cryptocurrency is affected by its own internal dynamics. Investors should be careful and conduct thorough research before making an investment decision…
First of all, tomorrow there is a critical unlock for the popular altcoin Optimism. Optimism (OP) On October 30, 24.16 million OP worth $33.58 million will be unlocked, accounting for 2.74 percent of the total supply. On October 31, 1inch will unlock 21.43 thousand 1INCHs worth 6.34 thousand dollars. DYdX (DYDX) will also release an amount representing 1.21 percent of the total supply on the same day. That is, it will open 2.16 million DYDX tokens worth $5.33 million.
We are entering November with unlocks
As we enter November, STEPN (GMT) will open $585K worth of altcoins on November 1st. So STEPN is expected to unlock 3.3 million GMT. Simultaneously, Acala (ACA) will unlock 27.4 million ACA worth $1.37 million. In other words, it will put 3.31 percent of the total supply on the market. Tornado Cash (TORN) is on the horizon on November 3 with 22.8k TORN tokens worth $68.5k, accounting for 0.60 percent of the total supply. On November 4, ImmutableX (IMX) will unlock 18.8 million IMX worth $12.06 million (1.50 percent of the total supply). Also on November 4, Near Protocol (NEAR) will unlock $9 million worth of NEAR, accounting for 0.78 percent of the total supply. Finally, on November 5, Galxe (GAL) will appear on the scene. The altcoin project offers 7.61 million GAL worth $10.5 million. This amount constitutes 16.86 percent of the total supply.
The cryptocurrency market continues to be a hub of innovation and excitement. Meanwhile, these upcoming major openings present a number of opportunities for investors and traders. Opening the reserves of these altcoins affects their respective markets. It is also important for participants to be informed and act carefully while navigating this dynamic environment. The cryptocurrency world never sleeps. So next week promises to be another exciting chapter in the saga of cryptos. Stay tuned for the latest updates and developments in the BTC and altcoin world.
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