October’s $2 Billion Token Unlock: Impact on Celestia (TIA) and Arbitrum (ARB)
October is shaping up to be a challenging month for some major players in the cryptocurrency space. Over $2 billion worth of tokens is set to unlock, potentially triggering a price dump for Celestia (TIA) and Arbitrum (ARB). However, there’s a bright side—IntelMarkets (INTL) is shattering records with its red-hot presale, poised to become the hottest project of 2024. Let’s dive into the details!
Celestia’s $1.1 Billion TIA Token Unlock: A Game Changer or a Price Dump?
In October 2024, the crypto market will witness the issuance of over $2 billion in tokens, with Celestia’s $1.1 billion TIA token being the highlight. On October 31, the modular blockchain Celestia (TIA) network will release 175.75 million TIA tokens, according to DropsTab. These tokens are allocated to:
- Research and development teams
- Investors from earlier rounds, including Series A and B
- Original contributors to Celestia
This release marks an important milestone for Celestia (TIA), a network designed to simplify blockchain creation, which gained traction in late 2023. The price of Celestia (TIA) peaked at $20.91 on February 10, 2024, but has since dropped to $5.59.
Given the significant amount of tokens being released, the upcoming token unlock might cause a price dump. This sudden influx of tokens could lead to a further price decline, especially if supply outpaces demand. If investors lose confidence in the project’s long-term potential, the token unlock could accelerate the downward trend and result in a more substantial decline in Celestia’s (TIA) market value.
Will Arbitrum (ARB) Sink Further? Upcoming Unlock Raises Concerns
Arbitrum (ARB) is facing a potentially bearish outlook due to its upcoming token unlock in October, which could increase downward price pressure. ARB has already been impacted by previous token unlocks, including a significant release in March 2024 when 1.1 billion tokens worth over $2 billion were unlocked. Following that, whales holding Arbitrum (ARB) moved approximately $58 million worth of tokens to exchanges, leading to a 23.42% price decline.
The forthcoming October token unlock may add more selling pressure. With biweekly releases planned until 2027, 45% of ARB tokens are currently unlocked, making token unlocks a recurring event that could contribute to further price declines.
On October 16, Arbitrum (ARB) will unlock 92.65 million ARB tokens valued at $61.90 million, representing 2.56% of Arbitrum’s (ARB) circulating supply. Given these circumstances, it is likely that Arbitrum’s (ARB) price will remain bearish after this token unlock, particularly if whales and other investors choose to sell off their unlocked tokens.
IntelMarkets (INTL) Surges Past $760K: A Presale Phenomenon for 2024
The much-discussed AI cryptocurrency IntelMarkets (INTL) has been growing rapidly in its ongoing presale. With its latest surge beyond $760,000 in presale funding, it has outperformed most newly launched initial coin offerings, making a strong case for being the top presale of 2024.
IntelMarkets (INTL) integrates blockchain, DeFi, and AI technologies to create the first AI-powered smart trading platform. This platform will give traders an edge in the cryptocurrency market with enterprise-grade AI tools and AI-based solutions.
Key features of IntelMarkets (INTL) include:
- Self-learning trading robots
- Access to Inte-M multichannel analysis
- A dual-chain model allowing users to choose between Ethereum and Solana blockchains
Support from Nvidia, a global leader in AI computing, has further established IntelMarkets (INTL) as a reliable investment project. With a token price of just $0.012 during the second presale stage, IntelMarkets (INTL) has the potential to outperform well-known cryptocurrency projects in profit rallies once listed on major centralized exchanges (CEXs). It is predicted to reach $5 before the year ends, offering up to 10,000% ROI to early investors.
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