This Week in Crypto: TIA, OP, SUI and Other Tokens Will See Large Unlocks, Market May Trigger Significant Volatility

Data from Tokenomist.ai shows that several tokens will experience large unlocks this week. Among them: Celestia (TIA) will unlock approximately 176 million

Yesterday's market dynamics were largely influenced by the upcoming large unlocks of several tokens, including Celestia (TIA), Optimism (OP), Sui (SUI), Immutable (IMX), ZetaChain (ZETA), Tribal Token (TRIBL), Cardano (ADA), and dydx (DYDX). These unlocks, valued at over 1.2 billion USD in total, are expected to impact the market liquidity and price movements of the respective tokens.

Among these tokens, Celestia's TIA token unlock is particularly noteworthy, as it constitutes a large proportion (80.13%) of the current circulating supply and is valued at about 900 million USD. The unlock will occur on October 30 at 20:00.

Furthermore, several NFT-related projects also announced their latest developments. Magic Eden, a leading NFT trading platform, announced the claiming of the test token TestME, which will commence on October 29 and conclude on October 31. This test token, valued at 0 USD, serves as a practice round for users to familiarize themselves with the claiming process for the ME token.

NFT marketplace X2Y2 announced the launch of the X2Y2 V4 marketplace on November 1. This new marketplace will feature several updates, including a new UI/UX design, optimized smart contracts, and support for Seaport. Additionally, X2Y2 will introduce a new tokenomics model and governance system.

In other news, Morgan Stanley analysts examined the potential impact of the 2024 U.S. presidential election on the markets. Their analysis suggests that the election may trigger significant market volatility, with ballot counting delays emerging as a key risk factor. The analysts also highlighted the importance of considering economic uncertainty and changes in voter sentiment.

While the tight race in key swing states and the varying mail-in ballot counting times may result in final outcomes taking days or even weeks to determine, the report emphasizes that investors should focus on long-term strategies and avoid overreacting to short-term market volatility caused by the election.