This week, several major cryptocurrency events are expected to drive volatility across key tokens. Among the highlights are large token unlocks, Donald Trump’s WLFI token sale, and the long-anticipated token generation event (TGE) for DeBridge.
These developments, along with updates from the decentralized finance (DeFi) and blockchain sectors, are likely to influence investor behavior and shape market performance in the coming days.
World Liberty Financial Token Sale
Donald Trump’s DeFi venture, World Liberty Financial, is set to launch its WLFI token on Tuesday, October 15. The project promises to democratize and depoliticize finance, offering an alternative to traditional financial institutions.
“World Liberty Financial Token Sale goes live on Tuesday morning, October 15th! This is YOUR chance to help shape the future of finance. Be there on Monday, October 14th at 8 AM EST for an Exclusive Spaces to learn more. Join the whitelist today and be ready for Tuesday,” an announcement read.
As markets anticipate the debut of the WLFI token, uncertainty surrounds the project’s overall dynamics. BeInCrypto reported at the project’s official launch that crypto investors have expressed a dented first impression of World Liberty Financial. Concerns about its viability, business model, and ability to deliver on its promises continue to be topics of discussion.
Read more: Top 11 DeFi Protocols To Keep an Eye on in 2024
Despite these uncertainties, WLFI is reportedly targeting $300 million in its upcoming token sale. WLFI will function as a governance token, granting holders the right to participate in the ecosystem’s development and decision-making. Notably, the sale will only be accessible to select individuals.
Binance to Delist ORN for LUMIA
Binance is also on the top crypto news this week, with a planned delisting of Orion (ORN) token. This is part of a rebranding process, with ORN transitioning to Lumia (LUMIA). Notably, the transition from ORN to LUMIA will occur at a 1:1 ratio, mirroring the recent MATIC to POL migration.
“We are pleased to inform you that Binance will support the Orion (ORN) mainnet swap and rebranding to Lumia (LUMIA). Binance will handle all technical requirements for users involved in this event. Please note that all ORN tokens will be swapped to LUMIA at a ratio of 1 ORN = 1 LUMIA,” Binance announced.
This means that after October 15, traders would not be able to trade ORN on Binance, but LUMIA instead. The supply of LUMIA tokens will more than double that of ORN, from 92,631,255 million to 238,888,888 million.
Lumia, which is a pioneer hyper-liquid restaking rollup Layer-2 (L2) for Real-World Assets, asked ORN token holders on other exchanges to wait for confirmation about swaps to LUMIA from those trading platforms about the transition.
First Avalanche Summit in LATAM
Traders and investors will also be watching AVAX price in the days leading to, and after, Wednesday, October 16, when the Avalanche Summit LATAM will take place at the Ciudad Cultural Konex in Buenos Aires, Argentina.
“We are thrilled to bring the Avalanche Summit to Latin America for the first time. We chose Buenos Aires for its exceptional talent pool and its rapid evolution as a key player in the world of Web3 and blockchain,” said Emin Gün Sirer, CEO of Ava Labs.
The last Avalanche Summit took place on May 3 in Spain, remembered to be bullish on blockchain, gaming, and Web3. The two-day event, between Wednesday and Friday, will offer a unique opportunity for developers, entrepreneurs, and blockchain technology enthusiasts to connect and learn about the latest innovations in the Avalanche ecosystem.
Noteworthy, the residents of Latin America have free entry benefits, as the event commits to be a milestone in the history of blockchain in the region. It will set the stage for the Avalanche-based game Off The Grid, potentially setting the tone for it to become a top gameplay on Epic Games.
Network participants also anticipate the launch of Avalanche 9000, an update that promises to change the way of applications development and launches on the blockchain.
deBridge TGE and DBR Airdrop
deBridge Finance will hold its token generation event (TGE) on Thursday, positioning itself as “the bridge that DeFi deserves.” The project has three primary stakeholders: the team, strategic partners, and the community. DBR, an SPL token on Solana, serves as the governance token for the deBridge ecosystem.
As the TGE approaches, deBridge will launch with an initial circulating supply of 1.8 billion tokens, or 18% of the total supply, aligning with other Solana TGEs like Pyth (15%) and Wormhole (18%). Jupiter (JUP) community members will also benefit from the event, as it includes an airdrop.
“When Jupiter had an airdrop, deBridge users received 4.6 million JUP because Jupiter’s API was integrated into deBridge’s API. Similarly, Jupiter users are now among the largest DBR airdrop recipients because the deBridge widget and API are integrated into the JUP ecosystem,” deBridge Finance co-founder Alex Smirnov said.
WCT Airdrop Registration Deadline
The WalletConnect (WCT) airdrop registration closes on Friday, October 18, with interested participants urged to act before the four-day window elapses. Further, users should use the WalletConnect option instead of connecting their wallet directly.
The registration started on September 24, and as the window closes on Friday, the token checker and claim will be in November 2024. According to an official blog announcement, 18.5% of the total supply, or 185 million WCT tokens, are allocated to the community.
Read more: Best Upcoming Airdrops in 2024
5% of the total DBR supply will be distributed in the first airdrop, with an additional 13.5% slated for subsequent airdrops in 2025. Additionally, users who mint the Wallet Connect badge will automatically rank among the top 1% of WCT airdrop farmers, granting them priority in future distributions.
Over $173 Million Worth Cliff Unlocks
As BeInCrypto reported, there are several token unlock events this week. The most significant ones will concern Axie Infinity (AXS), Starknet (STRK), EigenLayer (EIGEN), Arbitrum (ARB), and ApeCoin (APE). Collectively, these unlocks will release over $173.29 million across the respective ecosystems.
Token unlocks often increase market liquidity and cause volatility. As these tokens enter circulation, their prices may experience flactuations, making it essential for traders to monitor the events closely.
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