Significant token unlocks are expected next week, which may affect the prices of several major altcoins.

Sell-off Expected for APT and Other Altcoins

According to data from the Token Unlocks App, projects such as Aptos (APT), EigenLayer (EIGEN), Optimism (OP), Cardano (ADA), Neon (NEON), and others are anticipating large-scale unlocks. These events are sparking concerns about potential price drops due to an influx of unlocked tokens into the market. In total, $213 million worth of tokens are set to be unlocked, which could prompt a sell-off wave as traders aim to minimize potential losses.

Key Altcoins Facing Unlocks

Aptos (APT Coin): On October 11, 11.31 million APT tokens will be unlocked, worth $101.22 million, representing 2.25% of its circulating supply. EigenLayer (EIGEN): Scheduled for October 8, with 9.93 million EIGEN tokens being unlocked, making up 5.32% of its supply. Optimism (OP): On October 10, 12.47 million OP tokens will be unlocked, equivalent to 0.99% of its circulating supply. Neon (NEON): Facing a massive unlock on October 7, with 53.91 million NEON tokens, representing a staggering 93.43% of its supply. These token unlocks, along with those for other altcoins like Cardano (ADA), Hashflow (HFT), and Forta (FORT), are likely to increase selling pressure in the market, which could lead to price drops.

Market Impact and Investor Caution

These large token unlocks often disrupt the balance of supply and demand in the crypto market, potentially causing price volatility. As more tokens are released, increased selling can drive prices down. Investors should remain cautious during these unlock periods and carefully assess their risk exposure. According to experts, this wave of unlocks could lead to temporary price declines for some of these altcoins.

With the upcoming token unlocks, investors are advised to monitor the market situation closely and maintain caution in assessing potential risks.