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The cryptocurrency market is expected to see token unlocks valued at over $649 million between February 17 and February 24.

According to data from Tokenomist, MURA plans to release tokens worth $82 million, impacting 2% of its circulating supply. Second on the list, MELANIA prepares for an unlock of 61.25 million tokens valued at $79.63 million. This represents 40.83% of its supply. Solana (SOL) continues to lead linear unlocks with tokens valued at $87.56 million.

MURA and MELANIA lead large cliff unlocks

MURA will lead this week’s cliff unlocks when it releases 20 million tokens worth $82 million to the crypto market.

MELANIA will release 40.83% of its circulating supply with a critical unlock event of 61.25 million tokens valued at $79.63 million. Beginning on February 19–20, 3% of the entire supply (30 million tokens) will be issued according to the structured release of the MELANIA unlock schedule. This initial unlock is the beginning of a 13-month release schedule. The memecoin project will have subsequent monthly releases of 2.25% (22.5 million tokens) scheduled for the following 12 months. Lastly, 30% of the entire token supply will be made available by the team.

Melania token unlock schedule. Source: @EmberCN (X/Twitter)

Next on the list, Fantom (FTN) prepares to release 20 million tokens worth $78.80 million, affecting 4.66% of supply. QAI Protocol (QAI) schedules 565,690 tokens valued at $47.76 million, impacting 10.88% of circulation, while Mars Protocol (MRS) plans to unlock 10 million tokens worth $28.90 million, adding 11.87% to its circulating supply.

Next is Immutable X (IMX) with 24.52 million tokens valued at $19.76 million. ApeCoin (APE) will release 15.60 million tokens worth $11.42 million, and Space ID (ID) will unlock 18.49 million tokens valued at $6.78 million. Pixel Protocol (PIXEL) will also release 91.18 million tokens worth $6.13 million representing 11.83% of its supply.

Solana leads linear unlocks

Solana (SOL) maintains its position as the lead in linear unlocks, with 465,770 tokens worth $87.56 million scheduled for release. While this represents only 0.10% of SOL’s circulating supply, the unlock’s dollar value makes it the largest in this category.

Worldcoin (WLD) follows with 37.23 million tokens valued at $45.79 million, which will add 3.64% to its supply. Following suit, Dogecoin (DOGE) plans to release 97.01 million tokens worth $25.90 million, affecting 0.07% of its total supply.

TIA Protocol (TIA) schedules 6.99 million tokens valued at $21.72 million, representing 1.31% of supply. Avalanche (AVAX) plans to release 700,000 tokens worth $17.57 million, while TAO Protocol (TAO) prepares to unlock 50,400 tokens valued at $18.14 million, impacting 0.60% of circulation.

The schedule continues with Sui (SUI) releasing 3.72 million tokens worth $12.28 million, Polkadot (DOT) unlocking 2.30 million tokens valued at $11.30 million, and NEAR Protocol (NEAR) with 2.97 million tokens worth $10.26 million.

Jito (JTO), Filecoin (FIL), Ethereum Name Service (ENS), and Optimism (OM) will release tokens worth $12.95 million, $8.79 million, $8.14 million and $7.69 million, respectively.

Less popular token unlocks

According to CoinMarketCap data, Fusionist (ACE) will release 3.33 million tokens valued at $3.26 million. These projects are less popular and currently show 33.53% completion in their unlock schedule.

Ctrl Wallet (CTRL) will unlock 90.67% of its tokens, which amounts to 3.48 million tokens worth $67,883. With a current circulating supply of 203.92 million CTRL tokens, this release could impact its $3.97 million market capitalization.

Token unlock schedule for the week between February 17 and February 24. Source: Coinmarketcap

Manta Network (MANTA) plans to release 13.63 million tokens valued at $5.6 million while maintaining 39.78% unlock progress and a market capitalization of $155.3 million. Genopets (GENE) is preparing for a larger release of 118 million tokens worth $178,098, with 74.04% of its unlock schedule completed.

KicksPad (KICKS) has 94.61 million tokens due for release, worth $2,389. Even though the project has 68.58% progress in unlocks, its relatively low market cap of $9,794 and present circulating supply of 387.75 million tokens indicate possible price sensitivity with this forthcoming supply boost.

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Bitcoin (BTC) is currently holding on to the important horizontal support of $96,000. Will the price drop through and dip to the low 90K region, or is the next move a spike to the upside? The boring sideways price movement of the last couple of weeks may just be the calm before the storm.

Peace in Ukraine could provide boom to markets 

The global political and macro economic environment are just as uncertain as they have continued to be over these last few years. However, in Ukraine, the chances of peace have increased dramatically as new US President Donald Trump goes ahead with talks with Russian President Vladimir Putin, while the European Union is left fuming on the sidelines.

Should the peace actually come into being, the markets could go into a boom that may last into the end of 2025. Beyond that, uncertainty would likely reign once more, as long as deep economic and monetary issues remain unsolved.

For the price of Bitcoin, this particular scenario could not be better. If the 4-year cycle does run its course, although there is no guarantee this will play out, the $BTC price would be coming to a peak at some time in Q4 this year.

So what about the current depressed price action for Bitcoin? As far as markets go, this is absolutely normal. The spike up to $109,000 needed to be absorbed by the market, and this is still ongoing. That said, the price may be reaching the stage where there is a further drop, or where a pivot back to the upside takes place.

$BTC breaks out of wedge, but price subdued

Source: TradingView

Looking at the short-term 4-hour chart, it can be seen that the price has managed to pull out of the descending wedge. However, non-existent volume has meant that the $BTC price is just meandering above the top trendline of the wedge. 

The good news for bulls is that the very important horizontal support at $96,000 is holding firm so far. The Stochastic RSI at the bottom of the chart has just experienced a cross-up, and the 8-hour is also at the bottom. If the price goes up from here, $100,000 is the target for the bulls, given that this is the next resistance, and getting above this would mean a higher high, and the chance of reversing this current local downtrend.

Weekly chart shows the important $BTC levels

Source: TradingView

Zooming out into the weekly time frame shows the most important horizontal support and resistance lines. The current weekly candle perfectly fills the space between the $96,000 support, and the $97,000 resistance. If there is to be a change in this local downtrend, closing a candle above $97,300 would be the first step. On the other hand, a candle close below $96,000 would leave the bears still in control.

At the bottom of the chart, the Stochastic RSI on the weekly shows that the indicators are bottoming. As soon as they do, and there is a cross up of the blue indicator line over the red, this could signal that big upside price momentum is on its way.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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