The crypto market’s future may be determined by significant token unlocks set to begin on October 21, 2024. These unlocks will release a large number of tokens from prominent projects such as Guild of Guardians, Moonwell, Ronin, and Yield Guild. Token unlocking can have an impact on market liquidity and cause price fluctuations.
Upcoming Token Unlocks to Watch Out For:
Guild of Guardians (GOG) will start the unlock on October 21st, releasing 6.98 million tokens worth $237,520, which is equivalent to 0.70% of the total tokens. While this unlock may not be as significant as previous ones, it can still affect prices in the short term based on investor behavior.
Moonwell (WELL) plans to launch 37 million tokens on October 23rd, with a value of $2.26 million. This unlock accounts for 0.74% of the total supply of Moonwell. As a DeFi-oriented protocol, the release of more WELL tokens can impact liquidity pools and trading volumes, potentially bringing new dynamics to the DeFi market.
The UNKJD project will unlock 9.03 million MBS tokens on October 21st, representing 0.90% of the total tokens valued at $193.31K. This unlock has the potential to significantly alter fund flows at MBS and stimulate the market.
Space ID will release 18.49 million ID tokens on October 22nd, accounting for 0.93% of the total supply valued at $7.70 million. Additionally, ZKLink (ZKL) will unlock 11.65 million ZKL tokens on the same day, which is 1.17% of the total quantity, valued at $1.58 million. ZKLink’s zero-knowledge technology may attract those interested in privacy-scaling solutions.
Noteworthy Unlocks in Late October:
The last week of October will see the most significant token unlocks of the month. Blocklords (LRDS) will unlock 2.02 million LRDS tokens on October 24th, representing 2.02% of the project’s total supply, with a value of $1.27 million. The following day, Roadworks (RAD) will unlock 1.56 million RAD tokens, equal to 1.56% of the entire supply, valued at $1.86 million.
Yield Guild (YGG) is another major project with an unlock scheduled on October 27th, releasing 11.49 million tokens worth approximately $6.16 million. As a part of the play-to-earn games, Yield Guild could experience market movements as these tokens enter circulation.
Another significant unlock is Ronin, which will release 34.67 million RON tokens, accounting for 3.47% of the total supply, with a value of approximately $59.78 million. Ronin has played a crucial role in enabling gaming transactions on the Ethereum blockchain and may face price pressure due to the scale of this release.
When these new token unlocks occur, the market should expect short-term fluctuations in token prices. Understanding the process behind each unlock is essential for predicting future shifts.