Data from Token Unlocks reveals that several cryptocurrencies are poised for substantial unlocking events next week, cumulatively valued at approximately $220 million. This unlocking activity includes tokens from notable projects such as Arbitrum, Axie Infinity, Eigenlayer, Starknet, and Taiko, each contributing to this significant market movement.
Starting with Arbitrum (ARB), the protocol is set to unlock around 92.65 million tokens on October 16 at 1:00 PM UTC. This release represents about 2.56% of the project’s current circulating supply and holds an estimated value of $49.4 million. Investors are keenly watching Arbitrum, as any fluctuations in the token price due to this large unlocking could influence trading dynamics in the decentralized finance space. On October 14 at 1:10 PM UTC, Axie Infinity (AXS) will unlock approximately 9.25 million tokens.
This token release constitutes about 6.08% of the total circulating supply and is valued at around $43.1 million. The unlocking of AXS is particularly significant as it aligns with ongoing developments in the gaming sector and the broader adoption of play-to-earn models. Eigenlayer (EIGEN) will see an unlocking of about 11.22 million tokens at 7:00 PM UTC on October 15, which represents 6.01% of its circulating supply with a value of approximately $43.9 million.
This event may trigger changes in staking behavior among the community as they prepare for the upcoming unlock. Starknet (STRK) has scheduled an unlocking of 64 million tokens at 12:00 AM UTC on October 15, accounting for 3.30% of its circulating supply and estimated to be worth $26 million. As Starknet continues to foster its L2 scaling solutions for Ethereum, this unlocking event is expected to attract considerable attention from investors and developers alike. Finally, Taiko (TAIKO) will unlock about 12 million tokens on October 14 at 12:00 AM UTC.
This unlock will account for 14.99% of its circulating supply with a total value of approximately $18.7 million, positioning Taiko as a project to watch in the burgeoning sphere of zero-knowledge proofs and blockchain scaling. Overall, next week's token unlocks could lead to major price movements and a re-evaluation of the respective projects within the crypto space.
Investors are advised to monitor the market closely as these events unfold..