The cryptocurrency market is gearing up for major token unlock events that could impact the price movements of various tokens. Analysis based on Token Unlocks data highlights 13 cryptocurrencies that are expected to see major supply increases in the near future, highlighting potential price risks. Market sentiment is bearish ahead of these events, with traders predicting that the token supply opening could put downward pressure on prices.

Understanding Upcoming Token Unlock Events

Token unlocks refer to the release of previously locked digital assets according to a predetermined schedule, and this supply increase can often lead to price fluctuations. Currently, 13 cryptocurrencies are preparing for major unlock events, so traders are advised to be careful. Among the cryptocurrencies awaiting unlocks are Sui (SUI), Optimism (OP), Immutable (IMX), and ZetaChain (ZETA). For example, SUI will release 68.79 million tokens on October 1, which corresponds to 2.47% of its circulating supply. This supply increase may create selling pressure on the SUI price, which has fallen 3% to $1.64. Similarly, OP will release 31.34 million tokens, which will likely affect the current price of $1.86.

Detailed Analysis of Specific Tokens

Among the other affected tokens, IMX will unlock 32.47 million coins (2.02% of the circulating supply) on October 4, which could affect its current price of $1.76. ZETA will release 54.89 million tokens (13.68% of the supply). Interestingly, ZETA is up 7% today to $0.743. Other tokens such as DYDX, Maverick Protocol (MAV), and Cardano (ADA) will also experience similar unlock events. DYDX will unlock 9.88 million tokens, which is 1.57% of its supply. MAV, on the other hand, will unlock 39.87 million tokens (10.47% of the supply), which could pose significant price risks. ADA will also unlock 18.53 million tokens on October 2, which is a small percentage but means traders should be careful.