September Unlocks: Key Events in the Crypto Space
This month, the crypto space is bracing for a series of token unlocks that could have significant implications. Prominent figures in the crypto community, such as @TheDeFinvestor and @wacy_time1, have taken to Twitter to share their insights and speculations on these upcoming events. Let’s take a closer look at their perspectives.
ApeCoin (APE): An Unprecedented Unlock
On September 17, APE will release $54.8 million, which represents 11% of its circulating supply. @TheDeFinvestor notes that most of these tokens will go to insiders, particularly launch contributors. Looking at past instances when a large number of APE tokens entered the market, the price experienced a significant dip. @wacy_time1 also highlights the risks of shorting APE given its current downtrend, where prices have declined by 80% since the beginning of the year.
Worldcoin (WLD): Unlocking Potential
WLD will undergo a daily unlock of $3.38 million. @TheDeFinvestor emphasizes that in a year, the circulating supply of WLD will be three times its current amount. Despite the downtrend in its value, both influencers caution against shorting WLD due to its strong backing from venture capitalists and the possibility of price manipulations.
Solana (SOL): A Window of Opportunity
On September 7, Solana will unlock $10.3 million from staking. According to @wacy_time1, the majority of stakers receiving SOL may not immediately sell, presenting an accumulation opportunity in the event of a price drop. Additionally, the recent partnership announcement between Solana and Visa has sparked interest in the blockchain, although the SOL price needs to surpass a key level for further upside potential.
Optimism (OP): A Positive Outlook
OP will experience an unlock of $32.3 million, designated for core contributors and investors, on September 30. While @TheDeFinvestor predicts selling pressure from these groups, @wacy_time1 maintains an optimistic view, highlighting the potential of Optimism following the success of Coinbase’s Base. The influencer also suggests considering accumulation opportunities if any negative price reactions occur.
dYdX: Unlocking Potential Selling Pressure
On September 26, $13.7 million, equivalent to 3.8% of the dYdX circulating supply, will be unlocked. These tokens are allocated to the community treasury, liquidity provider rewards, and trading rewards. @TheDeFinvestor warns of potential selling pressure in the mid to long term, while @wacy_time1 expresses fewer concerns about this token’s unlock.
Aptos (APT): A Linear Unlock
A standard linear unlock of $25 million is scheduled for APT on September 12. @wacy_time1 believes that this unlock may not cause a significant price reaction and even considers buying APT for speculative purposes if it falls below $3.
Stay Informed and Proceed with Caution
As these token unlocks approach, it is crucial for the crypto community to stay informed and exercise caution. The events unfolding in September present both challenges and opportunities for crypto investors.
Hot Take: Navigating the Unlocks
The upcoming token unlocks in September hold immense significance for the crypto space. As an investor, it is vital to analyze the insights and speculations shared by influential figures like @TheDeFinvestor and @wacy_time1. Understanding the potential risks and opportunities presented by these unlocks can help you make informed decisions and navigate the ever-evolving crypto landscape.
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