Token unlocks in the crypto market are among the most exciting and important developments for investors. Careful management of these processes plays a critical role in balancing the impact of projects on the market and ensuring price stability. In addition, unlocks for five major altcoins that will take place this week are among the important events that investors should follow closely.
First Altcoin: Optimism (OP)
Opening Date: December 31
Number of Tokens: 31.34 million OP
Current Circulating Supply: 1.35 billion OP
Optimism is a major Layer-2 solution that aims to increase transaction speed and reduce transaction costs on the Ethereum network. The OP token plays a critical role in network governance and enables users to actively participate in network development. The token unlock process, which will be held on December 31, provides a distribution plan for core contributors and investors. It is a matter of great curiosity how this step will affect the market. If the project meets expectations, there may be a positive impact on the value of the OP token.
Altcoin: Sui (SUI)
Opening Date: January 1
Number of Tokens: 64.19 million SUI
Current Circulating Supply: 2.92 billion SUI
Sui stands out as a high-performance Layer-1 blockchain and optimizes network operations using the Proof-of-Stake consensus mechanism. Developed by Mysten Labs, this project stands out for its governance by involving users in decision-making processes. The unlocking process, which will take place on January 1, includes the community reserve, Mysten Labs treasury, and allocations for investors. This development will mark the beginning of the growth process of the Sui ecosystem.
Third Altcoin: ZetaChain (ZETA)
Opening Date: January 1
Number of Tokens: 53.89 million ZETA
Current Circulating Supply: 576.11 million ZETA
ZetaChain stands out as a platform that enables seamless communication between different blockchain networks. It allows users to transfer data and tokens between networks such as Ethereum and Binance Smart Chain. The 53.89 million ZETA tokens to be unlocked will be distributed to projects such as user growth pools and liquidity incentives. This step will help the ZetaChain platform expand its user base.
Fourth Altcoin: dYdX (DYDX)
Opening Date: January 1
Number of Tokens: 8.33 million DYDX
Current Circulating Supply: 712.3 million DYDX
dYdX is known as a leading protocol in the field of decentralized futures trading. The project aims to achieve long-term growth by restructuring token distributions. The 8.33 million DYDX tokens that will be opened in January will be distributed among founders, investors, and employees. This development could be an important step in the protocol’s long-term growth strategies.
Fifth Altcoin: Ethena (ENA)
Opening Date: January 1
Number of Tokens: 12.86 million ENA
Current Circulating Supply: 2.93 billion ENA
Ethena is a synthetic currency protocol that runs on Ethereum and offers its users dollar-based savings instruments. The ENA token allows users to have a say in the governance of the protocol. The 12.86 million ENA tokens that will be released on January 1 are considered an important step for ecosystem development. This development will help the project expand its global user base.