coinedition.com
The crypto market is bracing for a significant wave of token unlocks, with over $475.5 million worth of tokens set to be released from November 25 to December 1, 2024. This unlocking spree is coming amid the ongoing crypto market bull run and can stir market sentiment for the affected tokens.
SUI Leads with a $231.74M Unlock
At the forefront is SUI, with a massive $231.74 million unlock scheduled for December 1, representing 2.26% of its circulating supply. This release, earmarked for private investors, founders, and the community, is the largest of the week.
Notably, SUI has been one of the best-performing crypto assets during the current bull run. Trading at $3.56, SUI has gained 90% over the past 30 days and 571% over the last year. As a result, market observers are closely watching how the increased supply will impact SUI’s price trajectory.
Optimism (OP) and ZetaChain (ZETA) Follow with Notable Unlocks
Another significant event is the $64.56 million unlock of Optimism (OP) on November 30, which constitutes 2.50% of its circulating supply. Scheduled for November 30, the tokens are allocated to founders, team members, and private investors.
Meanwhile, ZetaChain (ZETA) stands out with a staggering 10.41% of its circulating supply—valued at $35.90 million—set to unlock on December 1. This allocation is for community members and marketing, with additional shares going to founders, team members, and advisors.
This substantial influx of ZETA’s supply could impact the project’s price stability. ZETA has been on a bearish trend in recent weeks, falling by 10% over the past four weeks.
Other Key Unlocks for Next Week
Several other projects will have significant token unlocks next week. Immutable (IMX) will release $33.83 million worth of tokens on November 29, representing 1.47% of its circulating supply.
Similarly, on November 30, 1INCH will unlock $33.67 million, equating to 7.72% of its supply. Cardano (ADA) will have two unlock events totaling $32.68 million (0.10% of its supply), spread across November 26 and December 1.
Lastly, DYDX is set to release $10.83 million (1.19% of its supply) on December 1, adding to the week’s liquidity surge.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.