Next Week in Crypto: Key Events to Watch (Oct 28th - Nov 3rd, 2024) 🗓

Next week is packed with truly market-moving events, all spanning just three days. So buckle up—it’s going to be a potentially pumpy mid-week! From notable token unlocks to key U.S. economic data, here’s what to keep on your radar:

---

Token Unlocks:

🔐 October 30 – TIA Token Unlock
   
Celestia (TIA) will unlock 175.59 million tokens, representing a massive 80% of its circulating supply, valued at around $940 million, or 16.3% of its total supply. How this will affect TIA’s price is anyone’s guess, but it’s important to note that this large unlock doesn’t mean all of the unlocked TIA will necessarily be sold—something that’s quite unlikely. Nevertheless, it’s bound to be an interesting day for TIA holders.
   
🔐 November 1 – SUI Token Unlock
   
Sui (SUI) will unlock 64.19 million tokens, worth approximately $114 million, representing 2.32% of its circulating supply.
   
🔐 November 1 – IMX Token Unlock
   
Immutable X (IMX) will unlock 32.47 million tokens, worth approximately $44 million, representing 1.98% of its circulating supply.

---

📊 U.S. Economic Data:

Next week will see the release of four crucial economic data points:

- October 30 – Q3 U.S. GDP Report
- October 31 – Core PCE
- November 1 – Unemployment Rate & Nonfarm Payrolls

🔍 The Q3 GDP report on October 30 will be the key highlight of the week. If GDP exceeds expectations, it could signal ongoing economic resilience, potentially delaying rate cuts and putting downward pressure on crypto. Conversely, a weaker GDP could reinforce expectations of future rate cuts, which would be bullish for crypto as lower rates often bring increased liquidity and a more favourable risk-on environment.

🔍 The Core PCE reading will also be critical. Persistent or rising inflation could encourage the Fed to keep rates elevated for longer, while a softer reading would increase the likelihood of rate cuts, easing fears of an inflation resurgence.

🔍 Finally, the unemployment rate and nonfarm payrolls data. If job data points to weakness, it would strengthen the case for easing monetary policy—a potential positive catalyst for crypto. However, stronger-than-expected job growth could justify further rate cut delays.

---

That’s all for this week’s action! Be sure to follow these key events closely, and we’ll be back with more updates in the next roundup.