$446M in Altcoins Set for Release as Bitcoin Enters Risky Phase
The crypto market is preparing for potential volatility as $446 million worth of altcoins are set to unlock from Oct. 13 to Oct. 20, according to Tokenomist.
- FTN will release 4.62% of its total supply, valued at $40.2 million.
- CONX is unlocking $32.93 million (3%), and ARB will release tokens worth $30.69 million (1.71%).
- DRB will unlock over 618 million tokens, 17.59% of its supply, with a total value of $18.28 million.
- Other significant unlocks include STRK, SEI, ZK, and APE.
SOL Leads Linear Unlocks
- Solana (SOL) tops linear unlocks with $97.75 million, 0.09% of its supply.
- WLD ($37M), TRUMP ($30.42M), and DOGE (DOGE) ($20.31M) follow.
- STBL could face a sell-off, unlocking 10.64% of its supply.
These token releases may lead to temporary dips, especially for low-liquidity projects.
Bitcoin’s Dominance and Altcoin Trends
Bitcoin's dominance might be peaking, entering a "risky" phase compared to altcoins, reminiscent of early 2021 before a major altcoin rally. Analyst Dan Gambardello suggests that Bitcoin's current position near key moving averages could indicate the beginning of an altcoin resurgence.
Altcoins in Low-Risk Accumulation Phase
- Altcoins show a low-risk accumulation phase with risk scores around 20, much lower than previous peaks.
- Ethereum has a risk score of 47, potentially leading the next altcoin rally.
This period resembles past phases following large-scale liquidation events, which led to new crypto bull cycles.