According to Tokenomist data, the cryptocurrency market will see a large number of token unlocks this week, including Sui (SUI), Optimism (OP), Immutable (IMX), Cardano (ADA) and 1inch (1INCH), which will release a total of more than $548 million worth of tokens.
"Token unlocking" means that the tokens allocated to early investors, team members, and development contributors are released after being locked for a period of time. In other words, the holders will be able to sell the tokens for cash, so it is often regarded as a "negative event."
Cryptocurrency analysis firm 10x Research has warned that the unlocking of a large number of tokens may impact the competitive coin market, and venture investors may face pressure to lock in recent gains, which means that "when tokens are unlocked, even if these tokens have positive momentum, their upside performance will still be limited."
An overview of the tokens and amounts that will be unlocked in the next 7 days (each worth more than 10 million USD) is as follows:
November 26: Cardano (ADA) tokens unlocked worth $19.14 million
Cardano (ADA) will unlock 18.53 million tokens on November 26, which represents 0.05% of its circulating supply and is currently worth approximately $19.14 million.
November 27: ApeX (APEX) tokens unlocked worth $17.46 million
ApeX (APEX) will unlock 9.24 million tokens on November 37, accounting for 19.09% of its circulating supply, currently worth about $17.46 million.
November 29: Immutable (IMX) tokens unlocked value of $42.66 million
Immutable (IMX) will unlock 24.52 million tokens on November 29, accounting for 1.47% of its circulating supply, currently worth approximately $42.66 million.
November 30: Optimism (OP) tokens unlocked worth $67.7 million
Optimism (OP) will unlock 31.34 million tokens on November 30, accounting for 2.5% of its circulating supply, currently worth approximately $67.7 million.
November 30: 1inch (1INCH) token unlocked value of $38.36 million
1inch (1INCH) will unlock 98.74 million tokens on November 30, accounting for 7.72% of its circulating supply, currently worth approximately US$38.36 million.
December 1: Sui (SUI) token unlocked with a value of $219 million
Sui (SUI) will unlock 64.19 million tokens on December 1, accounting for 2.26% of its circulating supply, currently worth about $219 million.
December 1: Zetachain (ZETA) tokens unlocked valued at $39.43 million
Zetachain (ZETA) will unlock 53.89 million tokens on December 1, representing 10.41% of its circulating supply, currently worth approximately $39.43 million.
December 1: dYdX (DYDX) tokens unlocked worth $12.5 million
dYdX (DYDX) will unlock 8.33 million tokens on December 1, representing 1.19% of its circulating supply, currently worth approximately $12.5 million.
The unlocking of these tokens is expected to have an impact on market dynamics. If market demand fails to keep up, the increased supply may exert selling pressure and cause price fluctuations. Investors are advised to closely observe the market's reaction to these events.
