This Week in Crypto: Key Events to Watch (Oct 14-20, 2024)

YEREVAN (CoinChapter.com) — This week promises significant developments in the crypto space, with major token unlocks, critical economic data releases, and big news expected from Avalanche. Here’s a detailed look at what to watch from Oct. 14 to 20, 2024, and how these events may impact the market.

Oct. 15 – EigenLayer (EIGEN) Token Unlock

On Oct. 15, EigenLayer will unlock 11.31 million EIGEN tokens, valued at approximately $42 million. This release accounts for 6.01% of the circulating supply. The unlocked tokens could lead to increased liquidity in the market, which may affect EIGEN’s price.

Oct. 16 – Arbitrum (ARB) Token Unlock

Another major token unlock is set for Oct. 16, with Arbitrum releasing 92.65 million ARB tokens, valued at around $49 million. This unlock represents 2.56% of the circulating supply. Token unlocks often impact prices as the market adjusts to the increased supply.

Oct. 16-18 – Avalanche Summit LATAM

The Avalanche Summit in Buenos Aires will run from Oct. 16 to 18. One of the key announcements expected during the event is the unveiling of Avalanche 9000, a major upgrade for the network. This development could impact the AVAX token, so holders should keep a close watch on any updates from the summit.

Oct. 17 – U.S. and China Economic Data Releases

Two important economic data releases on Oct. 17 could affect global financial markets, including cryptocurrency:

• U.S. Retail Sales & Jobless Claims: These figures will provide insight into the U.S. economy. Strong retail sales and low jobless claims may indicate resilience, affecting how markets, including crypto, respond.
• China’s Q3 GDP Data: China’s Q3 GDP report will offer insight into the global economy’s strength. The performance of China’s economy could influence investor sentiment, potentially impacting crypto markets.