The crypto market is preparing to enter a very active period between November 25 and December 1, 2024, with major token unlocks totaling $475.5 million. This week, SUI’s unlock worth $231.74 million is particularly notable. Projects such as Optimism (OP) and ZetaChain (ZETA) are also on investors’ radars with significant supply increases. These unlocks will increase liquidity in the market and may create short-term pressure on prices. Experts are closely monitoring the impact of these developments on market dynamics and investor perception.
SUI Token Will Be Unlocked, Movement Expected$SUI
The most notable of the unlocks is the SUI token unlock, which will take place on December 1. This unlock, worth $231.74 million, corresponds to 2.26% of SUI’s circulating supply. These tokens will be distributed to private investors, the founding team, and the community.
SUI has been one of the most notable projects in the crypto market this year. The token has gained 571% in value in the last year, and has increased by 90% in the last 30 days alone, and is currently trading at $3.56. However, despite this strong performance, investors are discussing the pressure this large supply increase will put on the price. In the past, large token unlocks have created short-term selling pressure, especially in bull markets. Whether SUI can break this situation is a matter of great curiosity.
Optimism (OP) and ZetaChain (ZETA) Unlocks
On November 30, Optimism (OP) will be launching $64.56 million worth of tokens. This amount corresponds to 2.50% of OP’s circulating supply and will be distributed to founders, team members, and private investors. OP, known for its rollup technology in the Ethereum ecosystem, is a major agenda item among investors who are discussing how this launch will affect community trust.
ZetaChain (ZETA) is making a bigger supply increase. The $35.90 million token opening on December 1st corresponds to 10.41% of ZETA’s circulating supply. This opening will be allocated to community members and marketing campaigns. ZETA, which has lost 10% of its value in the last four weeks, will face a tough test for the market in terms of how it manages the supply-demand balance.
Effects of Past Unlockings
Large token unlocks have had mixed results in the past. For example, similarly sized unlocks for projects like Axie Infinity (AXS) in 2023 resulted in short-term price declines. However, in the long term, these losses were offset by community growth and user base expansion. In periods of low market sentiment, such unlocks can lead to permanent declines in token prices.
Other Important Unlocks
This week, not only SUI, OP, and ZETA, but also other major projects are increasing liquidity in the market with token launches. Immutable (IMX) will release $33.83 million on November 29, while 1INCH will release $33.67 million worth of tokens on November 30. Cardano (ADA) will open a total of $32.68 million worth of tokens on two different dates. DYDX’s $10.83 million launch on December 1 will be another notable development.