Date: Mon, Oct 07, 2024, 06:00 AM GMT
The cryptocurrency market is in the midst of a strong recovery after a shaky start to October, spurred by geopolitical tensions. Bitcoin (BTC) had briefly dropped to $60,000 but has since bounced back, trading above $63,000. This surge in BTC has helped ignite a rally across major cryptocurrencies.
As market optimism builds, several major token unlocks are scheduled for this week (October 7 – October 13), putting Aptos (APT), EigenLayer (EIGEN), and Optimism (OP) in the spotlight.
Major Upcoming Token Unlocks
1Aptos (APT):
Aptos is preparing for a significant token unlock, releasing around 11.31 million APT tokens, worth approximately $103 million at current market prices. This event is scheduled for October 11 and will be one of the largest unlocks this week.
2.EigenLayer (EIGEN):
EigenLayer is set to unlock approximately 9.93 million EIGEN tokens, valued at $35.8 million. This represents 5.32% of the circulating supply and will occur on October 9 at 3:00 AM UTC+8. There’s been a lot of speculation about how this unlock could impact EIGEN’s price, with traders watching closely.
3.Optimism (OP):
Optimism is another notable token unlock happening this week, with 8 million OP tokens, valued at $20.08 million, set to be released on October 10. Optimism, a layer-2 scaling solution for Ethereum, has seen steady growth in adoption, and this unlock could influence its market trajectory.
Market Impact
As the cryptocurrency market is rebounding, it will be intriguing to see how these token unlocks affect overall market dynamics. With over $200 million in tokens being unlocked across these three projects, investors should stay informed and monitor potential market reactions.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.