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đŸ«Ł September is here, have no fear! Unless...

September 01, 2023

What’s up blurtlers? Another September is upon us and the fear and greed index is once again putting investors on the edge of their seats.

We’re going to be breaking down what’s happening today in crypto so you can get ahead of the pack and make some bucks!

WHAT’S HAPPENING TODAY?

  • Historical “September slump” – will the past repeat itself?

  • Four altcoins with token unlocks this month and how to profit

Are we in for another blood SeptemBEAR?

If you’re new to the space, you might be thinking, “what the $&#@?”

If you’ve been around for a while you’ll know that historically September is a red month for crypto. In fact, Bitcoin hasn’t had a green month in September since 2016.

The fear and greed index is slowly making it’s way into the orange zone – we’re not quite in the danger zone yet but it’s definitely something to watch if you want to get a general read on market sentiment.

Why does this happen?

There’s a couple of good theories as to why September has been historically red for Bitcoin:

  • People are locking in gains or losses for tax purposes

  • TradFi markets have also historically had poor performance in September

With crypto becoming increasingly tied to the price of boomer stocks, many investors are becoming worried that we will see another September slump.

What can you do?

There’s not a whole lot you can do but stay vigilant and stick to your investment strategy and risk tolerance. If you’re thinking about placing a risky bet – now might not be the best time. Use your common sense and be patient!

Hopefully we’ll see you all back here in October. 😉

Altcoin token unlocks to watch out for this month

Brace yourselves, folks, because here are the top contenders for the September token frenzy:

Hedera (HBAR)

  • Unlocking: 1.15 billion tokens on September 1

  • Percentage of Total Supply: 3.48%

  • Approximate Value: $61.27 million at current market price

Aptos (APT)

  • Unlocking: 4.54 million tokens on September 12

  • Percentage of Total Supply: 1.99%

  • Approximate Value: $25.99 million at current market price

ApeCoin (APE)

  • Unlocking: 40.60 million tokens on September 17

  • Percentage of Total Supply: 11.02%

  • Approximate Value: $60.09 million at current market price

DYDX

  • Unlocking: 6.52 million tokens on September 26

  • Percentage of Total Supply: 3.76%

  • Approximate Value: $14.34 million at current market price

Optimism (OP)

  • Unlocking: 24.16 million tokens on September 30

  • Percentage of Total Supply: 3.37%

  • Approximate Value: $35.51 million at current market price

Nobody can say for certain what unleashing a bunch of tokens will mean for each one’s respective price. Sometimes it’s already priced in and sometimes it dumps into oblivion.

All we’re here to do is make you aware of what’s going on so you can make sure you’re not on the rough end of the stick. Stay safe out their, folks.

Meme of the Day (MOTD)

– blurtl