Perfect Storm Brewing for Crypto Markets as dYdX, ARB & APT Unlocks Coincide With FTX and Gov Sales

2023-8-26 01:57

As the year draws to a close, the cryptocurrency market is bracing for significant changes. Several major assets are set for large unlocks, potentially flooding the market with billions of dollars worth of tokens. While some see this as a bearish indicator, others argue that the market can absorb the influx.

Government and FTX Holdings

The government is expected to offload a substantial amount of Bitcoin, approximately 33,000 BTC, valued at around $850 million. In addition, FTX, a leading cryptocurrency exchange, is also preparing to sell around $500 million worth of major cryptocurrencies. These large-scale sales have led some in the community to predict a bearish market towards the end of the year.

DYDX and APT Unlocks

DYDX, a decentralized exchange, is set to unlock $400 million worth of assets starting in December. Similarly, APT is expected to unlock approximately $250 million during November and December. This will be followed by another $500 million through April, and then billions more thereafter.

$ARB Circulating Supply

The circulating supply of $ARB is expected to triple from $2 billion to $6 billion in the next 10 months. This significant increase has raised concerns among some market participants about the asset’s stability and potential impact on its price.

SOL Tokens

Around $378 million worth of SOL tokens may also become available for sale on FTX. The full unlock schedule suggests that between 14-18 million SOL could be available, adding another layer of uncertainty to the market.

Market Sentiment

The community is divided on the impact of these unlocks. While some see it as a grim prospect, especially in the absence of a strong upside catalyst like an ETF, others believe that the market has the capacity to absorb these assets without a significant downturn.

Contrarian Views

A part of the community argues that the bearish sentiment is overblown. They believe that the market is more resilient than it appears and that the large unlocks could provide opportunities for new investments rather than signaling a downturn.

Conclusion

As billions of dollars worth of major cryptocurrencies prepare for unlocks, the market is at a crossroads. The large-scale releases have the potential to either flood the market, leading to a bearish trend, or be absorbed by a resilient market, offering new investment opportunities. The community remains divided, and only time will tell which direction the market will take.

For more updates, stay tuned to our cryptocurrency news section.

The post Perfect Storm Brewing for Crypto Markets as dYdX, ARB & APT Unlocks Coincide With FTX and Gov Sales appeared first on CaptainAltcoin.

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