Pre-Halloween Candy: A Spooky Series of Token Unlocks Includes Projects such as Optimism, Celestia, and dYdX

The upcoming series of token unlocks includes projects such as Optimism, Celestia, and dYdX, each of which intends to release a huge percentage of their tokens within the next few days.

A slew of upcoming token unlocks are set to inject a significant amount of cryptocurrency into the market over the next few days, with projects like Optimism, Celestia, and dYdX preparing to release a large percentage of their tokens.

These upcoming token unlocks in the cryptocurrency market will be substantial, with several blockchain projects set to release a large volume of tokens in the market.

These next token unlock events start with Optimism (OP), which is an established Layer 2 scaling solution for Ethereum. Optimism is set to unlock 32.21M OP tokens, which is 0.75% of its total supply and is valued at $55.75M. Each token is priced at $0.56 and is scheduled to be released on 31st October.

Yet another major project is Self Chain (SLF), which plans to release 1.52M SLF tokens on October 31. While this is a small percentage of Self Chain’s token for a total circulating supply, the unlocked tokens are valued at approximately $459,830. The smaller percentage may ease market impacts. However, it contributes to the total amount of SLF that may shift short-term trading.

The most significant amount of value is provided by Celestia (TIA), a modular blockchain platform with an emphasis on scalability. Celestia is to launch 175.74M TIA tokens, which makes 16.30% of the total supply and is equal to $879.13M. The Celestia token unlock is to occur on October 31st and is one of the largest in this series.

After the unlocks in October, Maverick Protocol will unlock 15.52M MAV tokens on November 1, which is 0.78% of the total supply, and is valued at approximately $2.53M. Even though this unlock is small, it will expand MAV’s supply in circulation and may impact its short-term price movements.

On the same day, a decentralized trading platform based on Ethereum called dYdX (DYDX) will free up 8.33M DYDX tokens or 1.84 % of supply with a value of $8.64M. Considering dYDX’s positioning as a leading decentralized finance (DeFi) platform, this release may affect the platform’s liquidity and trading volume.

Another education-related blockchain project, Hooked Protocol (HOOK), is also planned for unlock on November 1, which will release 8.33M HOOK tokens or 1.67% of the total supply with a value of $3.38M.

TARS Protocol (TAI) will have 28.59M TAI tokens unlocked on November 2, which approximately amounts to 3.19% of the total number of tokens and is valued at $3.98M.

Two major unlocks will follow on November 3: Sui (SUI) and Neutron (NTRN). Sui is a Layer 1 blockchain that focuses on scalability and performance, which aims to unlock 81.91M SUI tokens, which is 0.82% of the total supply of $ 167.16M. On the other hand, Neutron will release 9.96M NTRN tokens, which is 1.00% of the project’s total token supply, with an estimated value of $3.84M.

Token unlocks can provide insight into a project's activity, investor sentiment, potential for growth, or price volatility. These upcoming unlocks are likely to be closely monitored by market participants, and could have broader implications for the rest of the cryptocurrency market as traders adjust their strategies.

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