CandleFocus $5 Billion Crypto Unlock Could Shake Markets This October
2024-10-18
Author: Content Editor
On October 24th, nearly $5 billion worth of cryptocurrency will be unlocked, including major tokens like Celestia, EIGEN, Solana, WLD, and CHEEL. The unlock has attracted attention from traders, particularly for Celestia (TIA), which is performing well and may reach a target price of $7. However, the high funding rates and concerns about the unlock have led some traders to short TIA. EIGEN, on the other hand, has been struggling due to a recent hack and the selling off of tokens by venture capital firms. Solana's unlock of $342.84 million worth of SOL tokens hasn't diminished enthusiasm for its growing DeFi ecosystem, with the network's Total Value Locked reaching its highest level since January 2022. Overall, the unlock event will add substantial liquidity to the crypto market.
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