Token Unlocks For Week 3 of October 2024

With mid-October just around, the crypto market is anticipating several key token unlock events. These unlocks are vital to watch as they could create market fluctuations and opportunities for traders and investors alike. In this article, we will explore the tokens that just unlocked and the ones set for unlocks, delve into their main features, and provide insights into what to expect. 

Upcoming Token Unlocks

1- Starknet (STRK)

Unlock Date & Time: 

• October 15, 2024, at 3:00 AM EEST 
• October 14, 2024, at 8:00 PM EDT

Blockchain: Ethereum
Main Features: STRK is the governance token for the decentralized finance (DeFi) platform, Starknet. It allows users to borrow and lend cryptocurrencies, providing liquidity to the market. As a DeFi platform built on Ethereum, Starknet contributes to the broader decentralized ecosystem.
Upcoming Unlock: $28.17 million (3.30%)
What to Expect: The $28 million unlock could lead to temporary price volatility, but STRK’s role in DeFi lending may keep demand high among Ethereum users.

2- Eigenlayer (EIGEN)

Unlock Date & Time: 

• October 16, 2024, at 5:00 AM EEST
• October 15, 2024, at 10:00 PM EDT

Blockchain: Ethereum
Main Features: EIGEN enhances Ethereum’s security by offering a restaking solution, allowing stakers to secure other protocols while still participating in Ethereum staking. The Eigenlayer network seeks to make Ethereum more robust by incentivizing more efficient staking systems.
Upcoming Unlock: $40.95 million (6.01%)
What to Expect: With over $40 million in tokens set to unlock, this event may cause a surge in EIGEN’s market liquidity, though its impact will depend on investor sentiment toward Ethereum’s staking ecosystem.

3- Ethena (ENA)

Unlock Date & Time: 

• October 16, 2024, at 10:00 AM EEST
• October 16, 2024, at 3:00 AM EDT

Blockchain: Ethereum
Main Features: Ethena is a DeFi and staking-focused project within the Ethereum ecosystem. ENA powers its decentralized applications (dApps) and staking protocols, supporting a broad range of financial operations.
Upcoming Unlock: $5.25 million (0.47%)
What to Expect: The small unlock may not cause significant market ripples, but continued adoption of Enal’s DeFi services could drive long-term growth.

4- Arbitrum (ARB)

Unlock Date & Time: 

• October 16, 2024, at 4:00 PM EEST
• October 16, 2024, at 9:00 AM EDT

Blockchain: Ethereum (Layer-2)
Main Features: Arbitrum is a Layer-2 scaling solution for Ethereum, aimed at providing faster transactions and lower fees. ARB is its governance token, which allows holders to vote on key decisions in the Arbitrum ecosystem.
Upcoming Unlock: $51.95 million (2.56%)
What to Expect: Arbitrum’s $51 million token unlock may lead to a short-term increase in market activity, but its long-term value proposition as an Ethereum Layer-2 solution keeps it well-positioned for future growth.

5- Echelon Prime (PRIME)

Unlock Date & Time: 

• October 17, 2024, at 3:00 AM EEST
• October 16, 2024, at 8:00 PM EDT

Blockchain: Ethereum
Main Features: PRIME is a governance and utility token used within decentralized gaming ecosystems, enabling in-game transactions, staking, rewards, and player ownership of assets through blockchain technology.
Upcoming Unlock: $6.68 million (1.57%)
What to Expect: With the unlock, PRIME could see increased market liquidity. As DeFi continues to expand, Echelon Prime’s position in the ecosystem may attract long-term interest from investors.

6- Cardano (ADA)

Unlock Date & Time: 

• October 17, 2024, at 3:00 AM EEST
• October 16, 2024, at 8:00 PM EDT

Blockchain: Cardano
Main Features: ADA is the native token of the Cardano blockchain, designed for staking, governance, and transactions within the network. Known for its scientific approach and layered architecture, Cardano aims to build a secure and scalable decentralized ecosystem.
Upcoming Unlock: $6.72 million (0.05%)
What to Expect: The relatively small portion of ADA tokens set to unlock may not have a significant impact on the market, but Cardano’s long-term development plans are expected to maintain interest in the token.

7- ApeCoin (APE)

Unlock Date & Time: 

• October 17, 2024, at 3:30 PM EEST
• October 17, 2024, at 8:30 AM EDT

Blockchain: Ethereum
Main Features: APE is the utility and governance token within the Bored Ape Yacht Club (BAYC) ecosystem. ApeCoin holders participate in governance decisions related to the BAYC, while also enjoying utility in staking, community events, and gaming applications.
Upcoming Unlock: $11.90 million (2.31%)
What to Expect: As an integral part of the BAYC ecosystem, ApeCoin could experience short-term volatility due to the token unlock but may stabilize depending on the community’s ongoing developments in NFTs and the metaverse.

8- Pixels (PIXEL)

Unlock Date & Time: 

• October 19, 2024, at 1:00 PM EEST
• October 19, 2024, at 6:00 AM EDT

Blockchain: Ethereum
Main Features: PIXEL is a Web3 gaming token designed to power decentralized gaming experiences and NFT interactions within the Ethereum ecosystem. It’s known for its community-driven approach and focus on metaverse applications.
Upcoming Unlock: $8.34 million (7.05%)
What to Expect: PIXEL’s token unlock could result in short-term price fluctuations. However, with continued interest in gaming and NFTs, Pixels’ long-term potential remains strong, especially with the rise of Web3 gaming.

Unlocked Tokens Today

While on the lookout for the upcoming token unlocks, you wouldn’t want to miss out on the recently unlocked tokens as well:

Taiko (TAIKO)

Blockchain: Ethereum Layer-2 Solution
Main Features: Taiko is a zk-Rollup aiming to bring full Ethereum equivalence to Layer 2, offering scalability and faster transactions while maintaining the security of the Ethereum blockchain. It operates with a focus on decentralized development, allowing developers to build dApps with ease.
What to Expect: With this unlock, TAIKO could see increased liquidity, potentially impacting its price. As an Ethereum Layer-2 solution, it could attract more developers, boosting its long-term value.

Axie Infinity (AXS)

Blockchain: Ronin Network
Main Features: AXS is the native token of Axie Infinity, a popular blockchain-based play-to-earn game. It is used for governance, staking, and purchasing in-game assets. As the game expands, AXS plays a central role in its ecosystem.
What to Expect: Axie Infinity’s token unlock could increase selling pressure in the short term, but long-term growth hinges on the game’s continued popularity and the expansion of its metaverse.