Over $200 million worth of cryptocurrencies will enter the market between October 7th and 13th from various blockchain projects, potentially impacting altcoin prices as the broader market grapples with a downtrend and rising geopolitical tensions in the Middle East.
According to an X post by Token Unlocks, Aptos (APT), EigenLayer (EIGEN), Optimism (OP), Neon EVM (NEON), Cardano (ADA), and Mode (MODE) will unlock a total of $200 million in their respective tokens, leading to potential price volatility.
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Aptos and Cardano Unlocks
On October 11th, APT will unlock $93.75 million (over 2.26% of its circulating supply), while ADA will unlock only $6.42 million (over 0.05% of its circulating supply) on October 7th. Another $6.42 million in ADA will be unlocked on October 12th. Notably, close to 85% of ADA’s total supply has already been unlocked.
According to CoinMarketCap, ADA has fallen 0.9% in the past 24 hours and is trading at $0.3471, while APT has surged 3.05% to $8.45. Meanwhile, the broader digital asset market has dropped significantly in the past week, with Bitcoin and Ether falling 6.5% and 10.67%, respectively.
Other Token Unlockings
On October 7th, over $5.62 million worth of MODE (38.46% of its circulating supply) will unlock, followed by $17.57 million worth of NEON tokens (93.43% of its circulating supply) on the same day. MODE is trading at $0.01125, down 2.5% in the past 24 hours, while NEON is at $0.3285, down 3.39%.
On October 8th, $34.56 million in EIGEN will unlock (over 3.52% of its circulating supply), while $19.21 million in OP (0.99% of its circulating supply) will enter the market on October 10th. Currently, EIGEN is at $3.50, up 3.06% in the past 24 hours, and OP is at $1.55, down 2.31%.
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