According to Tokenomist data, the cryptocurrency market will see a series of significant token unlocks this week, including multiple projects like Sui (SUI), Optimism (OP), and Zetachain (ZETA), collectively releasing tokens worth over $300 million.
'Token unlock' refers to the release of tokens allocated to early investors, team members, and development contributors after a lock-up period, meaning that holders will be able to sell tokens for cash, and therefore it is often viewed as a 'bearish event.'
Cryptocurrency analysis firm 10x Research has warned that a large number of token unlocks could impact the competitive coin market, with risk investors potentially facing pressure to lock in recent profits, meaning that 'even when tokens unlock with positive momentum, their upside performance will still be limited.'
Overview of tokens and amounts to be unlocked in the next 7 days (each valued over $10 million):
December 31: Optimism (OP) will unlock 31.34 million tokens, accounting for 2.32% of the current circulating supply, valued at approximately $57.04 million;
January 1: Sui (SUI) will unlock 64.19 million tokens, valued at approximately $263 million, accounting for 2.19% of the current circulating supply;
January 1: Zetachain (ZETA) will unlock 53.89 million tokens, valued at approximately $31.18 million, accounting for 9.35% of the current circulating supply;
January 1: dYdX (DYDX) will unlock 8.33 million tokens, valued at approximately $12.5 million, accounting for 1.17% of the current circulating supply;
January 1: Ethena (ENA) will unlock 12.86 million tokens, valued at approximately $12.44 million, accounting for 0.44% of the current circulating supply;
January 6: Kaspa (KAS) will unlock 18.2 million tokens, valued at approximately $21.31 million, accounting for 0.72% of the current circulating supply;
Upcoming token unlocks highlight an increase in internal activity within the cryptocurrency market, with various projects releasing large amounts of tokens that could affect market dynamics and investor strategies.
"This week's token unlock overview: OP, SUI, and 'these projects' will collectively release over $300 million in tokens" was first published on (Blocker).
