Top 7 Crypto Token Unlocks Of the Week: October 14 – October 20

The second week of October brings important token unlocks worth around $500 million. Here are the top 7 token unlocks of the week.

Top 7 Token Unlocks of the Week

1. Axie Infinity (AXS) – October 14

According to official data from CryptoRank, on October 14, 12.58 million AXS tokens will be unlocked, worth about $60.07 million.

The amount represents 4.66% of the total token supply. The amount to be unlocked represents 8.28% of the fully diluted market cap of $1.29 billion.

The same data notes that, so far, 87.8% of the total token supply has already been unlocked.

During the past week, following a price drop to $4.33 on October 10, the token regained price levels of over $4.7. Today, the coin is trading close to $4.74, following a recent price drop on October 13 at $4.55.

2. Arbitrum (ARB) – October 16

On October 16, over 92.63 million ARB tokens are set to be unlocked, representing 0.93% of the total token supply. The unlock amount translates into more than $49.8 million, representing 2.56% of the total fully diluted market cap of $5.38 billion.

CryptoRank notes that so far, 29.4% of the total token supply has been unlocked.

Regarding ARB’s price, during the past week, the coin had a descendant trajectory, reaching a minimum of $0.5 on October 10.

At the moment of writing this article, the coin is trading close to $0.54, up by over 1% in the past 24 hours.

3. Eigen Layer (EIGEN) – October 15

Eigen Layer will unlock 11.22 million EIGEN tokens on October 15. This represents 0.67% of the total token supply. The unlock amount is almost $43 million, representing almost 6% of the fully diluted market cap of the coin of almost $6.5 billion.

So far, 11.9% of the total token supply has been unlocked according to CryptoRank.

Regarding the price of EIGEN, during the past week, the coin saw intense volatility, reaching a price peak of over $4.1 on October 9. Today, at the moment of writing this article, the coin is trading at $3.68, up by 0.6% in the past 24 hours.

4. StarkNet (STRK) – October 15

On October 15, almost 64 million STRK tokens are set to be unlocked, representing 0.64% of the total amount of the tokens. The unlock amount is over $26.9 million, representing 3.3% of the fully diluted market cap of $4.21 billion.

So far, 11% of the total token amount has been unlocked.

STRK began the past week with intense volatility, hitting a bottom price of $0.37 on October 10.

On October 11, the coin began an ascending trend, reaching a peak today at over $0.44. At the moment of writing this article, STRK is up by over 3% in the past 24 hours.

5. Polyhedra (ZKJ) – October 19

On October 19, 15.5 million ZKJ tokens are set to be unlocked. The amount represents 1.54% of the total token supply, according to data from CryptoRank.

The unlock amount is $17.27 million which translates into 17% of the fully diluted market cap of the token which is $1.11 billion.

18.4% of the total token supply has been unlocked by now, according to the same official data.

During the past week, ZKJ recorded a descending price trend, apart from a spike in price on October 8, when the coin reached $1.13. Today, the coin’s price surged from $1.11 to over $1.12, up by more than 1% in the past 24 hours.

6. ApeCoin (APE) – October 17

On October 17, 15.38 million APE coins are set to be unlocked, an amount that represents 1.54% of the total token supply. The unlock amount of over $11.2 million which translates into 2.28% of the fully diluted market cap of $730 million.

So far, 72.6% of the total supply of the token has been unlocked.

Regarding the trajectory of APE’s price during the past week, the coin also recorded intense volatility, reaching a bottom on October 10, at $0.67. Today, the coin’s price surged by almost 4%, reaching prices over $0.75.

7. Karrat (KARRAT) – October 19

On October 19, Karrat will unlock over 18 million tokens, representing more than 1.85 of the total token supply. The unlocked amount will be $8.78 million, representing 14.7% of the total market cap of the token, $478 million.

So far, 8% of the total token supply has been unlocked, according to the same data from CryptoRank.

KARRAT’s price trajectory in the past week recorded a descendant trend until October 10, when the token reached prices around $0.41. On October 11, the coin’s price surged reaching a top of $0.52 on the same day.

Today, KARRAT is trading close to $0.49, up by over $1.6% in the past 24 hours, after it earlier reached $0.5.

Why is Token Unlocking Important?

Token unlocks are important events in the crypto industry, as they can influence the buying and selling pressure of the coins.

Ahead of the token unlocking events or during the process, investors could decide to sell their tokens in order to get profits, which could lead to price drops of the tokens.