3 Token Unlocks to Watch Next Week: Next week, the cryptocurrency market is set to witness three major token unlocks that could significantly impact token prices. These token unlocks involve releasing tokens that were previously locked under fundraising terms. Here are the three token unlocks to watch:
- EigenLayer (EIGEN): On October 8, EigenLayer will unlock nearly 10 million EIGEN tokens, valued at $35.75 million. These tokens will be allocated for future community initiatives, so the unlock is unlikely to impact the token’s price.
- Optimism (OP): On October 10, Optimism will unlock 8 million OP tokens. With a current circulating supply of 1.25 billion OP tokens, this unlock could lead to price fluctuations depending on market conditions.
- Aptos (APT): On October 11, Aptos will unlock 11.31 million APT tokens. With a current circulating supply of 502.84 million APT tokens, this unlock could also result in price movements.
Token unlocks are closely watched by investors as they can lead to significant market movements. While projects carefully schedule these releases to avoid market pressure, factors like lack of liquidity or early investor profit-taking can still impact an asset’s dynamics.