Top Crypto News This Week: Binance Blockchain Week, TIA Token Unlocks, and More
2024-10-28

Several activities are in the lineup for top crypto news this week, positioning concerned tokens for volatility. Among the top stories are the highly anticipated, including Binance Blockchain Week, the debut of Avalanche ecosystem’s ARENA token, and the upcoming Frax announcement.
Forward-looking investors may consider watching the following events and adjusting their trading strategies accordingly.
Celestia TIAUSD Unlock
As BeInCrypto reported, the Celestia ecosystem has a massive unlock on the calendar, which has already sparked concerns of potential selling pressure. On Wednesday, October 30, up to 175.59 million TIA tokens (~$902 million) will be unleashed to the market in a cliff unlock event and 998,320 TIA tokens (~$5.13 million) daily in linear unlocks.
However, the cliff unlock event attracts the attention of the crypto community. This is because 79.68% of the token’s circulating supply is due for unlocking.
Noteworthy, token unlocks are typically bearish, particularly if recipients cash in for quick profits. There is also a lot of volatility around the unlock dates, which often culminates in a buy-the-rumor event situation.
Terra Services Deadline
Terraform Labs will burn one-third of Terra Luna Classic (LUNC) and TerraClassicUSD (USTC) holdings on October 31. This is part of the US Securities and Exchange Commission (SEC)’s directive in the $4.5 billion settlement. 
Among the key aspects of the SEC’s order is the impact on Terra Luna Classic’s Shuttle Bridge. Holders of assets on the Shuttle Bridge were advised to withdraw their remaining tokens since the bridge will be closed permanently.
All wallet information will also be destroyed as TerraForm Labs destroys and terminates keys linked to specific blockchain wallets. This includes those holding USTC, LUNA, Wrapped LUNA, and LUNA 2.0. The burn event could involve up to 275 billion LUNC tokens, with implications expected to go beyond the ecosystem.
Specifically, the SEC’s order may affect various protocols, including Mirror and Anchor Protocols. Notably, these protocols were integral to the upcoming Terra Luna Classic (LUNC) burn calculations. The burn will mark a major event for the Terra Luna Classic community after the ecosystem collapse in 2022.
Chainlink SmartCon
Due on October 30 to 31, the Chainlink SmartCon conference in Hong Kong is on the crypto watchlist this week. There is an expectation that the Chainlink team will drop some big announcements as industry leaders discuss decentralized and traditional finance (DeFi and TradFi, respectively) towards the future of on-chain finance.
As BeInCrypto reported in the past, the Chainlink ecosystem extends beyond just being an Oracle. They have been expanding into real-world assets (RWA) and artificial intelligence (AI) verticals. Notably, Bedrock, which recently integrated Chainlink’s Proof of Reserve (PoR), will also attend the conference.
Binance Blockchain Week
Binance Blockchain Week will take place in Dubai’s Coca-Cola Arena between October 30 and 31. Early bird tickets have been on sale since June, with the event this year expected to cover the theme of momentum: “Momentum propels our industry, not only taking us through challenges but also leading us to our biggest achievements.”
This theme will explore the industry’s current state, the hurdles it has experienced, and where the momentum is taking it next. Chiliz founder and CEO Alexandar Dreyfus will be among the speakers.
“Our Founder and CEO Alex Dreyfus will be speaking as part of a ‘Game Changers’ discussion about the role of blockchain in entertainment,” Chiliz revealed on X.
Frax Announcement
The Frax ecosystem is also among the top crypto news this week and is expected to make its biggest announcement yet. Specifically, it will detail the Frax Vision 2030 roadmap.
“One of the most important things we will unveil is how to turn a type 2/L2/gov/PE token into a sovereign asset. I expect many ‘type 2’ tokens to use it as a guide to follow suit,” Frax Finance founder Sam Kazemian hinted.
Avalanche ARENA Token Launch
The Arena, advertised as the most popular SocialFi application on Avalanche, will launch its token on Tuesday, October 29. This is after onboarding over 5,000 new users to the protocol during Uprising and finalizing the V1 airdrop. Notably, only V1 points will convert to tokens at launch, while future incentives will be V2 rewards, starting with Arena Uprising.
This token launch date was confirmed after a series of postponements, indicating a firm commitment to this new timeline.
“I feel we could see a rotation into Avalanche and the ecosystem needs someone to take charge over there! Multiple good tokens that can be positioned in a really low market cap right now,” said Brandon, a popular user on X.
Stacks Nakamoto Upgrade
Similarly, the Stacks (STX) Nakamoto Upgrade will take place on October 29 and is expected to enhance the user experience with new use cases and strategies. The upgrade will significantly increase the transaction speed on Stacks.
The upgrade will take place in Stacks’ block 867867 on Tuesday and Wednesday. Amid the expectation of increased speed, many Korean communities have recently been paying attention to the Stacks ecosystem. Noteworthy, Stacks is one of the projects that has established itself very successfully in Korea, and it is popular among individual Korean investors on Upbit, Bithumb, and Binance.
Several meme coins on the Stacks ecosystem are positioned for volatility, including Welsh, Leo, NOT (formerly MNO), ROO, and WEN. Token holders may consider adjusting their trading strategies based on this calendar event.