Token

Cardano

Solana

Immutable

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       <li><strong>In early October, Cardano and Solana will undergo token unlocks involving 37.06 million ADA and 524.03 million SOL, respectively.</strong></li>
       <li><strong>While Cardano’s cautious tokenomics model may minimize impact, Solana’s larger unlock, coupled with concerns over transparency, could lead to more significant market reactions.</strong></li>
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      <p><span style="font-weight: 400;">Around the start of October, Cardano and a Solana are set to undergo significant token unlocks. These events have sparked heightened interest from both traders and investors as previously locked or vested tokens become available for trading, increasing the circulating supply and further leading to market fluctuations due to the high supply and low demand dynamic.&nbsp;</span></p>
      <p><span style="font-weight: 400;">According to data from <a href="https://token.unlocks.app/" target="_blank" rel="noopener noreferrer nofollow">Tokenunlocks</a>, a platform that records restricted tokens available for trading or other market uses, Cardano will release approximately 37.06 million ADA tokens valued at $14.34 million to the market.&nbsp;</span></p>
      <p><span style="font-weight: 400;">This accounts for only 0.10% of Cardano’s circulating supply, suggesting that the impact on ADA’s price may be minimal. ADA has followed a more <a href="https://www.ethnews.com/cardano-advances-with-midnight-pioneering-privacy-in-blockchain/" target="_blank" rel="noopener noreferrer nofollow">cautious</a> tokenomics roadmap where it has scheduled token releases that align with the projects developmental phases.&nbsp;</span></p>
      <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
       <p lang="en" dir="ltr">According to TokenUnlocks, the single large-amount unlocking in the next 7 days includes ENA SUI IMX ZETA NEON ADA DYDX MAV MODE, etc., and the linear large-amount unlocking in the next 7 days includes SOL WLD TAO AVAX SEI NEAR DOT DOGE BEAM FIL, etc. The total unlocking value… <a href="https://t.co/0FsBY2xXpm" rel="noopener noreferrer nofollow">pic.twitter.com/0FsBY2xXpm</a></p>
       <p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1840705050756411558?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 30, 2024</a></p>
      </blockquote>
      <p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
      <p><span style="font-weight: 400;">Given the minimality of the tokens to be unlocked, chances are low of Cardano’s ADA experiencing significant price volatility. Additionally, early last month saw Cardano usher in the Voltaire era with the chang hard fork making Cardano a community-driven blockchain. This, coupled with Cardano’s <a href="https://www.ethnews.com/the-crypto-world-anticipating-50-growth-by-year-end-for-cardano-ada-and-stellar-xlm-but-hybrid-coin-cutoshi-cuto-can-surge-100/" target="_blank" rel="noopener noreferrer nofollow">steady growth strategy</a> coupled with a lower inflation rate has helped the token maintain stability during previous token unlocks.&nbsp;</span></p>
      <p><span style="font-weight: 400;">As a result, investors and traders do not anticipate a massive price drop but the event still calls for undivided attention, especially from short-term investors who seek to capitalize on the token.&nbsp;</span></p>
      <p><span style="font-weight: 400;">At the time of writing, Cardano’s ADA is swapping hands with </span><span style="font-weight: 400;">$0.3832, </span><span style="font-weight: 400;">marking a </span><span style="font-weight: 400;"><span style="color: #ff0000;">1.99%</span> decline in the last 24 hours. Also, this price represents a <span style="color: #00ff00;">5.73%</span> and <span style="color: #00ff00;">12.08%</span> surge in the past week and month, respectively.&nbsp;</span></p>
      <h3 id="b-solana-s-token-unlock-b"><b>Solana’s Token Unlock</b></h3>
      <p><span style="font-weight: 400;">On the other hand, Solana’s token unlock is a bit more substantial. Data from token unlocks has revealed that Solana will be rolling out 524.03 million tokens worth $81.56 million. This represents 0.11% of the total supply. While the portion may seem insignificant, Solana’s wider token economy deserves attention.</span></p>
      <p><span style="font-weight: 400;">Solana has had several significant token unlock events, one of which happened in July 2022, when 27.62 million tokens were added to the circulating supply. This 7% increase fueled conversations about Solana’s inflationary nature. Solana’s yearly unlocks are structured to decrease inflation gradually, targeting a stable rate of 1.5% by 2027.</span></p>
      <p><span style="font-weight: 400;">Solana’s token unlocks have not gone <a href="https://www.ethnews.com/solana-forecast-vaneck-predicts-sol-can-reach-50-of-ethereums-market-cap-if-this-happens/" target="_blank" rel="noopener noreferrer nofollow">unnoticed</a>. The Solana community has raised concerns about the token’s unlocks, especially matters regarding tokens held by the Solana Foundation and early investors.&nbsp;</span></p>
      <p><span style="font-weight: 400;">Even though the coming token unlock may not quite represent a massive percentage of the supply, a hint of selling from the aforementioned entities could significantly influence SOL’s price.&nbsp;&nbsp;</span></p>
      <p><span style="font-weight: 400;">Meanwhile, SOL is swapping wallets with </span><span style="font-weight: 400;">$156.37,</span><span style="font-weight: 400;"> marking a </span><span style="font-weight: 400;"><span style="color: #ff0000;">0.24%</span> decline in the last 24 hours.</span></p>
      <h3 id="b-other-token-unlocks-b"><b>Other Token Unlocks</b></h3>
      <p><span style="font-weight: 400;">Cardano and Solana’s token unlocks are not the only ones set for early October. Other notable projects with scheduled unlocks include Aptos, Immutable X, Sui, Avalanche, DYDX, Mode, and NEAR Protocol.</span></p>
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<p>The post <a href="https://www.ethnews.com/cardano-and-solanas-october-token-unlocks-could-trigger-price-volatility-heres-what-to-expect/" rel="noopener noreferrer nofollow">Cardano and Solana’s October Token Unlocks Could Trigger Price Volatility – Here’s What to Expect</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Cardano and Solana’s October Token Unlocks Could Trigger Price Volatility – Here’s What to Expect

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