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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.
Read also: Altcoin Rally: STX, SUI, TON, RUNE, POL, EGLD, VET Gain
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%.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
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