As we complete another week in the cryptocurrency industry, the overall sentiment remains positive with both the leading cryptocurrency Bitcoin (BTC) and various altcoins witnessing gains. However, a shadow of uncertainty surrounds some altcoin projects that are preparing for important launches next week.
Altcoin projects are unlocked
Cartesi (CTSI) ranks first with the unlock date set for October 23. At this event, 21.43 million CTSI will be released, equivalent to a market capitalization of $2.78 million, representing 2.91 percent of the total supply. The expectation is that this significant influx could lead to both market volatility and potential price fluctuations. The next day, October 24, DYdX (DYDX) is preparing for a major open. A significant amount of DYDX worth $11.5 million will be unlocked, which is 0.64 percent of the total supply. Market watchers are advised to keep a close eye on DYDX as this event could impact market performance.
Acala (ACA) will unlock 4.66 million ACA worth $219.54K on October 25, representing 0.56% of the total supply. This relatively smaller unlock may have a milder impact on the market, but the potential for price fluctuations still exists. On October 26, Euler (EUL) will launch 145k ACA worth $394k, accounting for 0.78% of the total supply. This relatively minor unlock may not shake up the market significantly, but it’s important to be cautious.
Critical lock openings will take place at the end of the week.
Two major unlocks will occur on October 27th. First, Galxe (GAL) will issue 586 thousand ACAs worth $674 thousand, which is 1.26 percent of the total supply. This could be a notable event that affects the token’s price and market stability. Simultaneously, Flow (FLOW) will be launched with $5.5 million worth of tokens, representing 1.06% of the total supply. Such a significant release could impact the dynamics of the cryptocurrency market, making it an event to watch closely.
Yield Guild Games (YGG) unlocked 12.58 million FGD worth $2.85 million, accounting for a significant 6.80 percent of the total supply. This unlocking could have far-reaching implications for the cryptocurrency and DeFi ecosystem. Finally, on October 28, SingularityNET (AGIX) is set to unlock 9.53 million AGIX tokens worth $1.71 million, accounting for 0.77 percent of the total supply. Market participants should remain alert as this event approaches. Simultaneously, Open Campus (EDU) will launch $8.5 million worth of altcoins, accounting for 2.12% of the total supply.
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