Connect with us

Market

Token Unlocks to Watch Next Week: TIA, SUI and OP

Published

on


Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.

Here are five major token unlocks to keep an eye on next week.

Celestia (TIA)

  • Unlock date: October 30
  • Number of tokens unlocked: 175.59 million TIA
  • Current circulating supply: 220.16 million TIA

Celestia, a modular data availability network, simplifies blockchain launches. On October 30, Celestia will unlock 175.56 million TIA tokens, valued at $920 million, and allocate these coins to early backers and initial core contributors. This massive unlock has sparked concerns about potential selling pressure.

“While some argue for a “bullish unlock” due to OTC activities, simple market dynamics tell a different story. The tokenomics design shows concerning flaws that can’t be ignored. TIA has potential for 3-digits IF the tokenomics weren’t so manipulated. But with VCs having such enormous profit margins and this aggressive unlock structure, we’re looking at significant downward pressure,” one X user wrote.

Read more: What Is Blockchain and How Does it Work?

TIA unlock
TIA Unlock. Source: Tokenomist

Optimism (OP)

  • Unlock date: October 31
  • Number of tokens unlocked: 31.34 million OP
  • Current circulating supply: 1.25 billion OP

Optimism is a Layer-2 scaling solution designed to improve the speed and lower the costs of transactions on the Ethereum mainnet. The OP token plays a crucial role in governance, allowing holders to vote on proposals and decisions that shape the network’s development and management.

On October 31, Optimism will increase its circulating supply by 31.34 million OP. According to Tokenomist (formerly TokenUnlocks), the project will allocate these tokens to core contributors and investors.

Read more: Optimism vs. Arbitrum: Ethereum Layer-2 Rollups Compared

Optimism unlock
OP Unlock. Source: Tokenomist

Sui (SUI)

  • Unlock date: November 1
  • Number of tokens unlocked: 64.19 million SUI
  • Current circulating supply: 2.76 billion SUI

Sui is a high-performance Layer-1 blockchain that utilizes a Proof-of-Stake consensus to increase network operation and security. The project was developed by Mysten Labs, a company founded in 2021 by former Novi Research employees who created the Diem blockchain and the Move programming language.

The SUI token facilitates governance, enabling token holders to vote on important proposals and shape the platform’s future. The next unlock will happen on November 1, releasing a large portion of tokens set aside for Series A and B participants, community reserve, and the Mysten Labs treasury.

Read more: A Guide to the 10 Best Sui (SUI) Wallets in 2024

SUI unlock
SUI Unlock. Source: Tokenomist

Immutable (IMX)

  • Unlock date: November 1
  • Number of tokens unlocked: 32.47 million IMX
  • Current circulating supply: 1.63 billion IMX

Immutable is a Layer-2 solution for scaling NFTs on the Ethereum blockchain. In September 2021, the project raised $12.5 million during the IMX token sale on the CoinList platform in just one hour. In March 2022, it closed a $60 million investment round and secured an additional $200 million from investors, including ParaFi Capital, Declaration Partners, and Tencent Holdings.

On November 1, the circulating supply of IMX will increase by 32.47 million tokens. These newly unlocked coins will be allocated to the development of the project and the broader Immutable ecosystem. 

Read more: What Is Immutable?

IMX unlock
IMX Unlock. Source: Tokenomist

ZetaChain (ZETA)

  • Unlock date: November 1
  • Number of tokens unlocked: 53.89 million ZETA
  • Current circulating supply: 459.59 million ZETA

ZetaChain is a decentralized blockchain platform that enables seamless interoperability across various blockchain networks. One of its main features is cross-chain communication, which allows for the exchange of tokens and data between different blockchains, such as Ethereum and Binance Smart Chain.

On November 1, it will unlock nearly 54 million ZETA tokens. The newly released coins will be allocated across several initiatives, including a user growth pool, an ecosystem growth fund, support for core contributors, advisory roles, and liquidity incentives. 

Read more: What Is Blockchain Interoperability?

ZETA Unlock. Source: Tokenomist

Next week’s smaller cliff unlocks include dYdX (DYDX), Galxe (GAL), Cardano (ADA), and Ethena (ENA), among others, with a combined value surpassing $1.24 billion.

While many see token unlocks as bearish, a well-structured schedule can actually support a project’s long-term success. Tied to key milestones and development, unlocks can motivate the team, engage the community, and drive ecosystem growth.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Market

Dogecoin (DOGE) Jumps 10%+: Is More Upside Ahead?

Published

on

By


Dogecoin started a fresh surge above the $0.180 resistance against the US Dollar. DOGE could continue to rise if it clears the $0.2200 resistance.

  • DOGE price started a fresh rally like Bitcoin and climbed above the $0.180 resistance level.
  • The price is trading above the $0.1800 level and the 100-hourly simple moving average.
  • There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair (data source from Kraken).
  • The price could continue to rally if it clears the $0.2150 and $0.2200 resistance levels.

Dogecoin Price Eyes More Gains

Dogecoin price started a fresh surge after it reclaimed the $0.1650 resistance like Bitcoin and Ethereum. DOGE was able to gain pace for a move above the $0.1800 and $0.1850 resistance levels.

There was a break above a key bearish trend line with resistance at $0.1620 on the hourly chart of the DOGE/USD pair. The pair even surged above $0.2000. A high is formed at $0.2200 and the price is now consolidating above the 23.6% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high.

Dogecoin price is now trading above the $0.200 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.2150 level. The next major resistance is near the $0.220 level.

Dogecoin Price

A close above the $0.220 resistance might send the price toward the $0.2320 resistance. Any more gains might send the price toward the $0.2420 level. The next major stop for the bulls might be $0.250.

Are Dips Supported In DOGE?

If DOGE’s price fails to climb above the $0.2150 level, it could start another decline. Initial support on the downside is near the $0.2080 level. The next major support is near the $0.1920 level or the 50% Fib retracement level of the upward move from the $0.1654 swing low to the $0.2200 high.

The main support sits at $0.1780. If there is a downside break below the $0.1780 support, the price could decline further. In the stated case, the price might decline toward the $0.1650 level or even $0.1620 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.2080 and $0.1920.

Major Resistance Levels – $0.2150 and $0.2200.



Source link

Continue Reading

Market

John Deaton Loses Senator Bid to Elizabeth Warren

Published

on

By


US Senator Elizabeth Warren secured her third term in Massachusetts. She defeated Republican challenger John Deaton, a high-profile attorney and advocate for cryptocurrency.

The Associated Press announced the victory on Tuesday night at around 8 p.m. as Warren claimed 73% of the vote compared to Deaton’s 26%.

Deaton faced an uphill battle in his first political campaign despite his popularity within the crypto community as an outspoken XRP advocate and broader calls for friendly regulation. He emerged as a Republican Senate nominee by defeating rivals Robert Antonellis and Ian Cain in a three-way primary.

His campaign received significant support from prominent figures in the crypto industry, including billionaire Mark Cuban. Ripple CEO Brad Garlinghouse also endorsed Deaton, commending his commitment to advocating for the digital asset sector. This backing raised Deaton’s profile and highlighted the contrast between him and Warren, particularly in their differing views on cryptocurrency regulation.

Read more: Crypto Regulation: What Are the Benefits and Drawbacks?

Throughout his campaign, Deaton focused on his vision for a balanced regulatory approach to crypto. In an interview with BeInCrypto, he previously expressed his belief that “overregulation” would stifle innovation and harm American competitiveness.

This stance resonated with crypto advocates. Nevertheless, it struggled to capture a broad base of support among traditional voters in Massachusetts. Warren’s record as a seasoned legislator held strong appeal.

John Deaton vs. Elizabeth Warren
John Deaton vs. Elizabeth Warren. Source: New York Times

Meanwhile, Senator Warren, a powerful figure known for her prior stance against the crypto industry, softened her tone in recent weeks.

“I’m all for having a cryptosystem if people want to buy and sell crypto. All I want is for them to follow the same rules as everyone else,” Warren said.

Previously, she had called for strict measures to rein in crypto, often framing it as a risk to consumers and a tool for financial crime. Tyler Winklevoss, co-founder of the Gemini cryptocurrency exchange, has been a vocal critic of Warren’s approach to digital assets, often labeling her perspective as “outdated” and “overly restrictive.”

Warren’s victory likely ensures that regulatory scrutiny of digital assets will remain on the agenda in Washington. However, her recent shift from harsh critique to a more balanced tone could signal a new phase in the crypto-regulation debate.

Although Deaton lost by a large margin, his campaign showcased the increasing prominence of cryptocurrency issues in US politics. His platform resonated with crypto-friendly voters and industry advocates who view the sector as the future of finance.

Despite his defeat, Deaton struck a conciliatory tone in his concession speech. He extended an offer to collaborate on areas of mutual interest, suggesting potential bipartisan efforts even on contentious topics.

“I just called Senator Warren and congratulated her on her victory. If there was something that you think I could be helpful with, for example, women’s reproductive rights or issues we agree upon… I wouldn’t hesitate to offer my assistance,” Deaton said.

Read more: Everything You Need To Know About Ripple vs. SEC.

Moving forward, Deaton said he would continue advocating for clear and reasonable crypto policies. Specifically, he would remain involved in the Ripple versus SEC (Securities and Exchange Commission) case regarding XRP’s status.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

XRP Price Momentum Reignites As Bitcoin Hits New ATH: Is a Major Rally in Sight?

Published

on

By


XRP price is gaining pace above the $0.5050 support zone. The price is rising and might even aim for a move above the $0.5500 resistance.

  • XRP price is eyeing a decent increase above the $0.5250 zone.
  • The price is now trading above $0.5220 and the 100-hourly Simple Moving Average.
  • There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair (data source from Kraken).
  • The pair could gain bullish momentum if it settles above the $0.5350 resistance zone.

XRP Price Climbs 4%

XRP price remained supported above the $0.4880 level. It formed a base and started a fresh increase above $0.5050 like Bitcoin and Ethereum.

There was a move above the $0.5120 and $0.5200 resistance levels. There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair. Finally, it tested the $0.5365 zone. A high is formed at $0.5368 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high.

The price is now trading above $0.5200 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5350 level. The first major resistance is near the $0.5365 level.

XRP Price

The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5665 resistance or even $0.5720 in the near term. The next major hurdle might be $0.5840.

Another Decline?

If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5250 level. The next major support is near the $0.5155 level or the 50% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high.

If there is a downside break and a close below the $0.5155 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5250 and $0.5155.

Major Resistance Levels – $0.5350 and $0.5500.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io