Crash

Aptos

Axie Infinity

Billion

<h4>October has been a busy month with many new tokens hitting the market. 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. </h4> 
Sui was responsible for the bulk of them, <a href="https://x.com/sk4tti/status/1841836646133858485" target="_blank" rel="noopener">releasing tokens</a> worth $115 million to the market. ImmutableX (IMX) had another <a href="https://coinmarketcap.com/currencies/immutable-x/" target="_blank" rel="noopener">heavy unlock</a> last week. But guess what? The IMX token has been down by 11% since then. That’s what unlocks do.&nbsp;With all these unlocks happening, prices could take a serious hit. Guess what? There are other heavy unlocks happening this month. So, what tokens should you be keeping an eye on? That’s what we’re diving into today. And make sure you stick around for the last project on our list—it’s unlocking altcoins worth almost a billion dollars. 
<h5>1) Aptos (APT)</h5> 
First on our list of heavy unlocks this month is <a href="https://aptosfoundation.org/" target="_blank" rel="noopener">Aptos</a>. Now, Aptos is a pretty big deal in the crypto world. It’s a layer-1 blockchain that’s built for high-speed transactions, and its goal is to be faster and more scalable than many other blockchains out there—think of it as the next-gen Ethereum.&nbsp; 
A lot of the buzz around Aptos comes from <a href="https://aptoslabs.com/team" target="_blank" rel="noopener">its team</a>, which includes people who previously worked on Meta’s Diem project. So you know they’ve got some serious expertise behind them. But here’s why they’re making headlines lately: Aptos has been one of the top-performing altcoins over the last year, seeing more than 60% growth. And to top that off, they’ve just partnered with Google to launch something called <a href="https://nftplazas.com/aptos-gamestack/" target="_blank" rel="noopener">GameStack</a>. 
This platform is all about Web3 gaming, letting developers combine Google Cloud’s data, analytics, and AI tools with Aptos’ scaling technology. The idea is to solve common distribution issues that game developers face in the Web3 space. Talk about big moves.&nbsp; 
Now, let’s talk about the unlock. Aptos is set to release 11.31 million APT tokens, worth about $99.30 million, on October 12. This is one of the largest unlocks in terms of value for this month. To put it in perspective, this represents 2.25% of Aptos’ circulating supply.&nbsp; 
<blockquote class="twitter-tweet"> 
 <a href="https://twitter.com/search?q=%24APT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$APT</a> Aptos will unlock nearly $100 million worth of 11.31 million APT on October 11. 
 Aptos dominates this week’s unlocks by a large margin, unlocking $99.41 million worth of tokens. This represents nearly 50% of the over $200 million in assets that will become liquid and soon… <a href="https://t.co/MykIvUO6Mp">pic.twitter.com/MykIvUO6Mp</a> 
 — Vini Barbosa (@vinibarbosabr) <a href="https://twitter.com/vinibarbosabr/status/1842936912069411096?ref_src=twsrc%5Etfw">October 6, 2024</a>
</blockquote> 
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The tokens will be distributed across different areas, including: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The foundation.</li> 
 <li style="font-weight: 400;" aria-level="1">Community.</li> 
 <li style="font-weight: 400;" aria-level="1">Core contributors.</li> 
 <li style="font-weight: 400;" aria-level="1">Investors.</li> 
</ul> 
So, what could this mean? Well, as is often the case with unlocks, we could see some downward pressure on the price of <a href="https://www.coingecko.com/en/coins/aptos" target="_blank" rel="noopener">APT</a> once these tokens hit the market. There’s always a chance that some of the investors or contributors will sell, which could temporarily drive prices down. It’s something to keep an eye on, especially given the current market conditions. 
That said, Aptos has a lot going for it in the long run, especially with its partnership with Google and its strong performance over the past year. Even if the price takes a hit post-unlock, Aptos remains a strong project with good <a href="https://www.altcoinbuzz.io/?s=fundamentals" target="_blank" rel="noopener">fundamentals</a>. 
<h5>2) Axie Infinity (AXN)</h5> 
Next up is <a href="https://x.com/AxieInfinity" target="_blank" rel="noopener">Axie Infinity</a>. If you’ve been around the crypto space for a while, you probably know Axie Infinity as one of the top Play-to-Earn games. It was one of the early pioneers in the NFT gaming scene, where players collect, breed, and battle creatures called Axies. It became a massive success during the NFT boom, even drawing in millions of players worldwide, many from places like the Philippines, where it became an income stream for users. 
Now, let’s talk about the token unlock. Axie is <a href="https://token.unlocks.app/axie-infinity" target="_blank" rel="noopener">unlocking</a> 9.25 million AXS tokens, which are worth around $42.56 million. This unlock represents 6.09% of their circulating supply—so yeah, it’s a pretty significant amount. Here’s the breakdown of the allocation: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Play-to-Earn: 2.70 million AXS tokens worth $12.42 million</li> 
 <li style="font-weight: 400;" aria-level="1">Staking Rewards: 815.63k AXS tokens worth $3.75 million</li> 
 <li style="font-weight: 400;" aria-level="1">Team: 5.74 million AXS tokens worth $26.39 million</li> 
</ul> 
Axie Infinity has unlocked 240.40 million AXS so far, which is about 89.81% of its total supply. There are still <a href="https://coinmarketcap.com/currencies/axie-infinity/#Chart" target="_blank" rel="noopener">29.60 million AXS tokens locked</a>, representing around 10.96%. With the next unlock just days away, Axie’s token is already down by 7.42%, which isn’t a surprise since we often see price dips when tokens unlock. 
<blockquote class="twitter-tweet"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> Weekly Cliff Unlocks : 14 Oct – 20 Oct ’24 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f513.png" alt="🔓" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> $ 214.33m+ <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31f.png" alt="🌟" class="wp-smiley" style="height: 1em; max-height: 1em;"> Unlock Highlights <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f31f.png" alt="🌟" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://twitter.com/search?q=%24ARB&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ARB</a> (2.56%) – $48.97m<a href="https://twitter.com/search?q=%24EIGEN&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$EIGEN</a> (6.01%) – $41.40m<a href="https://twitter.com/search?q=%24AXS&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$AXS</a> (6.08%) – $41.55m<a href="https://twitter.com/search?q=%24STRK&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$STRK</a> (3.30%) – $25.00m<a href="https://twitter.com/search?q=%24TAIKO&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TAIKO</a> (15.00%) – $18.24m<a href="https://twitter.com/search?q=%24APE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$APE</a> (2.31%) – $10.86m<a href="https://twitter.com/search?q=%24PIXEL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$PIXEL</a> (7.05%) – $6.80m . . ( % of cir.… <a href="https://t.co/6IWCFWztvE">pic.twitter.com/6IWCFWztvE</a> 
 — Token Unlocks (@Tokenomist_ai) <a href="https://twitter.com/Tokenomist_ai/status/1844635905266679998?ref_src=twsrc%5Etfw">October 11, 2024</a>
</blockquote> 
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But here’s an interesting twist: Axie Infinity has been up <a href="https://coinmarketcap.com/currencies/axie-infinity/#Chart" target="_blank" rel="noopener">10% over the last month</a>. So, what could this mean? Well, while unlocks tend to put downward pressure on prices, Axie might have some positive momentum going for it. This recent rise could suggest some underlying strength in the project or even expectations of future developments. However, with this upcoming unlock, there could still be some price volatility, so it’s definitely something to watch. 
<h5>3) Arbitrum (ARB)</h5> 
Next up is <a href="https://x.com/arbitrum" target="_blank" rel="noopener">Arbitrum</a>, one of the leading Layer-2 scaling solutions for Ethereum. Arbitrum has gained a lot of attention because it helps make transactions faster and cheaper on Ethereum. It’s a big deal for developers and users who are looking for scalable, cost-effective solutions in the world of Web3. 
Now, onto the token unlock. Arbitrum is set to <a href="https://token.unlocks.app/arbitrum" target="_blank" rel="noopener">release</a> 92.65 million ARB tokens on October 16th, worth around $51.02 million. This unlock makes up 2.56% of its circulating supply. Here’s how the tokens will be allocated: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Team, Future Team + Advisors: 56.13 million ARB tokens worth $30.91 million.</li> 
 <li style="font-weight: 400;" aria-level="1">Investors: 36.52 million ARB tokens worth $20.11 million.</li> 
</ul> 
Arbitrum has been making moves recently, with developments like the launch of <a href="https://x.com/arbitrum/status/1831020553211089243" target="_blank" rel="noopener">Arbitrum Stylus</a>, a virtual machine designed to break down barriers for Web3 DApp development. Stylus allows developers to use familiar languages to build on Arbitrum, potentially leading to innovative Web3 applications with low gas fees. 
As for its price, Arbitrum’s token, <a href="https://coinmarketcap.com/currencies/arbitrum/" target="_blank" rel="noopener">ARB</a>, is down 8.76% over the last week, likely in anticipation of the unlock. But it’s been up 12.16% over the past month, showing some strength amidst the market fluctuations. 
<h5>4) Celestia (TIA)</h5> 
Last on the list is <a href="https://celestia.org/" target="_blank" rel="noopener">Celestia</a>, and this is the big unlock I promised to tell you about. Celestia is a modular blockchain platform that’s been generating a lot of buzz lately. On October 30th, they’re <a href="https://token.unlocks.app/celestia" target="_blank" rel="noopener">unlocking</a> 175.59 million TIA tokens, and here’s how the allocation breaks down: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Early Backers: Series A &amp; B will receive 64.91 million TIA tokens, worth around $333.64 million.</li> 
 <li style="font-weight: 400;" aria-level="1">Early Backers: Seed will get 52.47 million TIA tokens, worth about $269.70 million.</li> 
 <li style="font-weight: 400;" aria-level="1">Initial Core Contributors will get 58.21 million TIA, worth around $299.21 million.</li> 
</ul> 
<blockquote class="twitter-tweet"> 
 Trade Idea. 
 On October the 31st, 175m <a href="https://twitter.com/search?q=%24TIA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TIA</a> will be unlocked, 89% of the circulating supply. 
 Just as we have seen major announcements before large unlocks in the past, I think we see the same with <a href="https://twitter.com/search?q=%24TIA&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TIA</a>. It is in the teams financial interest to do so. 
 My prediction is that we… <a href="https://t.co/zqMwDnbMso">pic.twitter.com/zqMwDnbMso</a> 
 — ZeroToTom (@zerototom) <a href="https://twitter.com/zerototom/status/1809540848759026116?ref_src=twsrc%5Etfw">July 6, 2024</a>
</blockquote> 
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Celestia hit the market in October last year with an <a href="https://coinmarketcap.com/currencies/celestia/" target="_blank" rel="noopener">initial price</a> of $2.20. It skyrocketed, reaching an all-time high of nearly $21 in February 2024—an 850% gain in just four months. Part of this was because of the positive market sentiment at the time. But the price has cooled. Right now, TIA trades at $5.61, up 40% in the last month, though it’s down 2% as of this video. 
Even though the unlock might create some pressure, Celestia’s long-term prospects look promising, especially after raising $100 million recently. So, that’s it for my list. Keep an eye out for these tokens. 
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<h6>Disclaimer</h6> 
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. 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. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. 
The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/a-2-billion-altcoin-crash-is-expected-for-these-altcoins/">A $2 Billion Altcoin Crash is Expected for These Altcoins</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

A $2 Billion Altcoin Crash is Expected for These Altcoins

Altcoin Buzz

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