Solana

Value

Billion

Celestia

Coin

<ul class="news-points wp-block-list">
 <li>About $5 billion in crypto tokens, including TIA, EIGEN, and SOL, will be unlocked next week.</li>
 <li>EIGEN faces setbacks from a $6 million hack and significant venture capital sell-offs.</li>
 <li>Solana’s DeFi ecosystem surpasses $6 billion in Total Value Locked, marking strong growth.</li>
</ul>
Nearly $5 billion worth of cryptocurrency will be unlocked on October 24th, with major tokens like Celestia (TIA), EIGEN, and Solana (SOL) among the largest contributors. According to <a href="https://x.com/Tokenomist_ai/status/1847199373568204901" target="_blank" rel="noopener noreferrer nofollow">data</a> from Tokenomist, TIA leads this event, releasing $1.11 billion worth of tokens into circulation.
This major unlock has caught the eye of traders, especially those closely watching TIA’s price movements. One trader <a href="https://x.com/George1Trader/status/1847176106140418209" target="_blank" rel="noopener noreferrer nofollow">observed</a> that TIA has been performing well, with a possible target price of $7 over the coming days if the positive trend continues.&nbsp;
However, he also pointed out concerns about high funding rates, possibly influenced by the upcoming unlock, which has caused some traders to hedge their positions by shorting the token.
<h2 class="wp-block-heading" id="h-eigen-faces-challenges-following-hack-and-sell-offs">EIGEN Faces Challenges Following Hack and Sell-Offs</h2>
EIGEN is another major token in the upcoming unlock, with $814.27 million in new supply set to be released. However, the …
The post <a href="https://coinedition.com/5-billion-crypto-unlock-could-shake-markets-this-october/" rel="noopener noreferrer nofollow">$5 Billion Crypto Unlock Could Shake Markets This October</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

$5 Billion Crypto Unlock Could Shake Markets This October

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