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- Crypto tokens worth $129.87 million to be unlocked next week.
- SUI, IO, and DYDX lead the list of tokens set for release.
- The unlock could increase liquidity and trading but may also pressure prices.
The crypto market is bracing for a potential shakeup as $129.87 million worth of digital tokens are set to be released from their lock-up periods next week. This “cliff unlock” event could significantly impact token prices and trading activity, creating both opportunities and risks for investors.
An analysis by the tracking platform Token Unlocks highlights the following tokens:
- Leading the pack is the smart contract platform token SUI which will unlock 2.65% of its circulating supply, equating to a massive $53.9 million.
- Following closely is Solana-based DePIN project $IO which will see 7.89% of its circulating supply released, amounting to $28.5 million.
- Ethereum-based ERC-20 token DYDX is set to release 3.12% of its circulating supply, DYDX will unlock $11.92 million worth of tokens.
- A significant 14.56% of DeFi token $MAV’s circulating supply will be unlocked, translating to $10.04 million.
- Ethena network’s ENA token is slated to unlock a smaller, yet notable, 0.92% of its circulating supply totaling $8.37 million.
- Similarly, GAL will unlock 2.6% of its supply, worth $6.94 million.
- Lastly, ZETA will see 1.92% of its circulating supply unlocked, equivalent to $4.49 million.
Source: Token Unlocks
Other notable tokens scheduled for release include LOFY, NFT, and FORT.
The release of such a large volume of tokens into the market can have varied implications. On one hand, it could lead to increased liquidity and trading activity. On the other hand, there is also the potential for downward pressure on prices if a significant portion of the unlocked tokens are sold at once.
As the market awaits the impact, investors will be closely monitoring these unlocks, as they could present both opportunities and risks. It is, therefore, crucial to stay informed and carefully evaluate market conditions before making any investment decisions in such a volatile environment.
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