- This week marks a significant event in the crypto market, with substantial token unlockings expected for 15 altcoins.
- According to Token Unlocks, the period from June 24 to June 30 will witness the unlocking of over $198 million worth of tokens, impacting notable projects like dYdX (DYDX), Optimism (OP), and Sui (SUI).
- Historically, the release of more than 1% of a token’s circulating supply often leads to noticeable downward pressure on its price, making the upcoming unlocks for AltLayer (ALT), Yield Guild Games (YGG), Portal (PORTAL), OP, Tornado Cash (TORN), and Maverick Protocol (MAV) especially significant.
This article delves into the details of the scheduled token unlockings, assessing their potential impact on the crypto market and individual token prices.
Major Token Unlocks Set to Shake the Crypto Market
The week ahead is poised to see a substantial increase in token liquidity as a result of scheduled unlockings. Noteworthy among these are the unlocks involving AVAX, where a total of $372 million worth of assets are set to be unlocked, representing 2.68% of its circulating supply.
Key Projects to Watch: OP, MAV, and SUI
Several projects warrant close observation due to the scale of their upcoming unlocks. For instance, AltLayer (ALT) will unlock $18.2 million worth of tokens, freeing up 6.92% of its circulating supply starting from June 25 at 10:00 AM UTC. Likewise, Optimism (OP) is set to release $53 million in tokens, impacting 2.88% of its total supply by June 30.
Detailed Token Unlock Schedule
This section provides a comprehensive overview of the specific projects and the scale of their token unlocks:
- AltLayer (ALT): Unlocking $18.2 million worth of 105.2 million tokens. The unlocking process begins on June 25 at 10:00 AM UTC, affecting 6.92% of the circulating supply.
- Pendle (PENDLE): Expected to release $1.4 million worth of 255,000 tokens, starting from June 26 at 12:00 PM UTC, representing 0.16% of its circulating supply.
- Yield Guild Games (YGG): Unlocking $9.1 million worth of 16.9 million tokens on June 27 at 2:00 AM UTC, impacting 4.48% of its circulating supply.
- SingularityNET (AGIX): Scheduled to unlock $5 million worth of 8.57 million tokens starting June 28 at 12:00 PM UTC, which will affect 0.28% of its circulating supply.
- Portal (PORTAL): Unlocking $2 million worth of 5 million tokens, starting June 29 at 4:17 AM UTC, affecting 0.53% of the circulating supply.
- Optimism (OP): Expected to unlock $53 million worth of 31 million tokens throughout the week, with the process formally starting on June 30 at 12:00 PM UTC, impacting 2.88% of the circulating supply.
- Sui (SUI): Set to release $58 million worth of 69 million tokens starting July 1 at 12:00 PM UTC, impacting 2.86% of its circulating supply.
- Maverick Protocol (MAV): Scheduled to unlock $11 million worth of 39 million tokens on July 1 at 12:00 PM UTC, which will release 15.26% of its circulating supply.
Conclusion
The upcoming token unlocks are bound to introduce significant volatility into the crypto market. Investors should brace for potential price fluctuations, particularly in tokens like AVAX, OP, and SUI, which are seeing substantial portions of their supplies entering circulation. Staying informed and prepared will be key to navigating the potential impacts effectively.
