- Over $755 million worth of various altcoins will be offloaded during this week’s token unlock period.
- Solana broke annual record at $220, but linear unlock could cause havoc.
- Two high-tech Layer-1s, Aptos and Celestia (TIA), secure approximately 2% of the supply.
The surprising cryptocurrency market rally following the US election has developed into a new all-time high for Bitcoin (BTC) and massive rallies in several blue-chip altcoins. For example, Aptos (APT), which incorporates Move technology, recovered double-digit figures for the first time since April 2024.
Aptos unlocks at a profit.
If Aptos’ bullish momentum continues, the altcoin could retest its yearly high of $18. APT is set to unlock a massive 11.31 million tokens this week, representing 2.17% of the circulating supply, currently valued at $13,515,450. The native cryptocurrency on the highly scalable Aptos chain is capped at $1.125 billion, with nearly 50% of Aptos coins already unlocked.
Unlocking is set to take place in cliff mode, dumping all tokens into the market at the same time. Meanwhile, Celestia (TIA), another altcoin on the technology-leading modular blockchain, is poised to unlock 1.70% of its total supply in linear mode. The certificate will result in 6.99 million TIA tokens in circulation, with an estimated value of over $40 million.
Will the price of Celestia (TIA) take a big hit?
After the massive 175.59 million TIA token cliff was unlocked at the end of October 2024, Celestia’s price rebounded from the $4.20 support on November 6, 2024. The TIA cryptocurrency jumped above $5.62 as Bitcoin’s $75,000 rally marked a historic day for the cryptocurrency community. , erasing the scars left on cell walls caused by the $940 million unlock.
Monday’s BTC bull market could be bullish for Celestia’s price as major cryptocurrency investors return and secure new TIA positions. This is evident in the improved Chaikin Money Flow (CMF) indicator.
additionally, Daily Coin A similar trend was discovered through the Stochastic Relative Strength Index (StochRSI), which helped us understand Celestia’s price movements. This indicator, which lies between 28 and 20, confirms our bullish stance on oversold altcoins.
This could soften the blow as the cryptocurrency token unlocks its hit on TIA through its ongoing linear unlock, as only 41.8% of the modular chain’s total supply is already floating around on cryptocurrency trading platforms, with 995.64K daily. Add Celestia coins to the market.
On the flip side
- Unlocking tokens does not always have an immediate impact on altcoin prices. This is especially true if positive cryptocurrency market sentiment overshadows selling pressure.
- Solana is on track to become the largest linear token unlock by trading volume, but since this SOL unlock represents only 0.11% of supply, the prices of the top five altcoins are the least likely to see any impact.
Why This Matters
Unlocking tokens not only changes the supply dynamics of cryptocurrencies, but also contributes to maintaining the blockchain ecosystem, which requires funding for further development.
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