$555 Million in Token Unlocks to Impact Altcoin Market
Token Unlocks: Over $555 Million Set for Release
- Over $555 million in tokens are scheduled to be unlocked between Oct. 6 and Oct. 13.
- The unlocks cover various projects, from new altcoins to established layer-1 networks.
- Major unlocks include ATH ($68.06 million), Aptos [NC] ($61.53 million), BABY, BB, and HOME.
Potential Market Impact
- Large unlocks can lead to short-term volatility or sell-side pressure.
- SOL leads linear unlocks with $115.16 million, representing 0.09% of its circulating supply.
- Other significant releases: TRUMP ($38.05 million), Worldcoin, Dogecoin, and Avalanche, each over $20 million.
Market Trends: Altcoin Season Indicators
- The Altcoin Season Index is at 71, close to the critical 75 mark that often signals an altcoin rally.
- The TOTAL3 chart shows crypto market cap (excluding Bitcoin and Ethereum) breaking resistance at $1.16 trillion.
- Possible targets: $1.31 trillion, $1.48 trillion, and $1.76 trillion based on Fibonacci extensions.
- Bitcoin achieved a new all-time high at $125,000, potentially leading to capital rotation into altcoins.
