Billions of dollars worth of cryptocurrency assets are expected to flood the market in October, according to new data from tokenomics insights firm Token Unlocks.
In a new thread on social media platform He said it was planned to happen. Solana (SOL).
“Uptober is right around the corner. Stay informed and not FOMO (fear of failure) driven.
With $3.46 billion worth of token unlocks scheduled for this month, it is important to watch the market closely. Major unlocks include $1.12 billion in TIA, $336.31 million in WLD, $360.8 million in SOL and $1.65 billion in other tokens.”
According to the company’s data, the biggest week for the cryptocurrency industry in terms of token unlocks for the remainder of the year will be between October 28 and November 3, when $1.854 billion worth of digital assets will be distributed to stakeholders.
Moreover, data shows that a whopping $2.518 billion worth of digital assets are scheduled to be unlocked during the month of November.
Token Unlocks warns investors to keep a close eye on how these new token distributions may impact the market.
“This significant influx of supply could have an impact on the market, so it is important to stay informed and adjust your strategy based on broader market dynamics.”
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