Major Liquidity Event: $320M+ Token Unlocks To Reshape Altcoin Market This Week

The altcoin market will go through a major liquidity event this week, with over $320 million worth of tokens available for trading.

Unlocks from SUI and Ethena’s ENA token represent the largest share by value, totaling nearly $208 million combined.

SUI, ENA, W Lead This Week’s Major Token Unlocks

The SUI network’s token sees the week’s single largest unlock based on dollar value. Approximately $136.12 million worth of SUI (representing 1.56% of its circulating supply) is scheduled to become available.

Following closely, Ethena’s ENA token will release $71.58 million (3.25% of circulating supply). Both are substantial enough that they could noticeably impact liquidity and price action for these assets.

Additionally, Wormhole’s W token unlock totals $70.40 million; while slightly smaller in dollar terms, this represents a very large 24.28% of its current circulating supply, potentially leading to significant price swings depending on recipient actions.

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Other Notable Unlocks: OP, DYDX, ZETA

Other unlocks scheduled for this week include Optimism’s OP token, with $28.14 million (1.93% of supply) set for release. Smaller amounts involve the DYDX token ($6.02 million, 1.09%) and ZetaChain’s ZETA token ($4.71 million, 1.79%).

Due to their lower relative dollar values, these unlocks are generally expected to have a comparatively smaller immediate market impact than the top three.

Unlock Volume Jumps Sharply Compared to Prior Week

This week’s total value of unlocks marks a dramatic increase compared to the relatively quiet prior week.

According to data from Tokenomist_ai (via X), last week saw only about $8.60 million unlocked in total across several tokens including ALT, MMX, YGG, VENOM, and HOOK.

Related: Crypto Q2 Outlook: Inflation Risks vs Recovery Hopes as BTC Tests $90k

This week, the combined value of just the SUI and ENA unlocks vastly surpasses that figure. This sharp rise in the volume of newly liquid tokens suggests potentially heightened market activity and increased volatility for specific assets in the coming days.