Over $650M in Tokens Unlocking Amid Decline in Altcoin Inflows
The crypto market anticipates over $650 million in token unlocks this week, with several major projects releasing large portions of their supply from October 27 to November 3. This could lead to increased volatility and potential sell-offs.
Upcoming Token Unlocks
- SUI will release 43.96 million tokens worth approximately $119 million.
- GRASS plans to unlock 181 million tokens valued at $80.73 million.
- SIGN will release 290 million tokens worth about $12.34 million, which is over 21% of its circulating supply.
- Other significant releases include KMNO, EIGEN, and ZORA.
Daily releases will involve projects like SOL, WLD, TRUMP, and DOGE, with SOL's daily unlock value exceeding $100 million.
Altcoin Market Trends
On-chain data shows a notable decline in altcoin exchange inflows, especially on Binance, which may help mitigate the impact of new token supplies. The 7-day moving average of inflow transactions has dropped significantly, indicating reduced selling pressure.
Bitcoin Hyper Presale
Bitcoin Hyper (HYPER) has raised nearly $25 million in its presale, aiming to address Bitcoin’s inefficiencies with its Layer 2 solution. HYPER serves as a utility token for transactions and staking rewards.
- Ticker: HYPER
- Presale Price: $0.013175
- Funds Raised: $24.98 million