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A $2 Billion Altcoin Crash is Expected for These Altcoins
- Over $2 billion worth of tokens are set to hit the market this month. The first week of October saw almost $300 million worth of tokens hit the market.
- Aptos will release 11.31 million APT tokens, worth about $99.30 million, on October 12, unlocking nearly 50% of the over $200 million in assets. The price may take a hit post-unlock, but Aptos remains a strong project with good fundamentals.
- Axie Infinity is unlocking 9.25 million AXS tokens, worth around $42.56 million, representing 6.09% of their circulating supply. While unlocks tend to put downward pressure on prices, Axie might have some positive momentum going for it, which there could still be some price volatility.
- Arbitrum is set to release 92.65 million ARB tokens worth around $51.02 million on October 16th, which makes up 2.56% of its circulating supply.
- Celestia is unlocking 175.59 million TIA tokens, and the early backers and contributors will receive tokens worth around $902.55 million. Celestia’s long-term prospects look promising, especially after raising $100 million recently.
- With all these unlocks happening, there could be a significant crash in the altcoin market this month.
- Aptos dominates this week’s unlocks by a large margin, unlocking $99.41 million worth of tokens. Axie Infinity is unlocking $42.56 million worth of tokens followed by Arbitrum at $51.02 million, and Celestia is expected to cause a big unlock of nearly $903 million.
- Aptos is built for high-speed transactions and is faster and more scalable than many other blockchains out there, and Axie Infinity is one of the earliest pioneers in the NFT gaming scene with millions of players worldwide. Arbitrum is one of the leading Layer-2 scaling solutions for Ethereum, while Celestia is a modular blockchain platform.
- The upcoming tokens' unlock has already caused some sell-off in the market, and some investors or contributors may sell, which could drive prices down. Investors need to keep an eye on these tokens and be prepared for market fluctuations.
- The information discussed is not financial advice, and any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours.
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