Crypto Market Braces for $484 Million Token Unlocks This Week

Over $484 million worth of crypto tokens are set to be unlocked between June 30 and July 7, according to Tokenomist data. This significant event involves multiple blockchain projects releasing large volumes of tokens through scheduled cliff or linear unlocks. These unlocks include substantial percentages of supply from key networks such as SUI, ENA, SOL, and others.

Leading the cliff token unlocks is SUI, with 44 million tokens unlocking, valued at $125.39 million. This represents 1.29% of the token’s total supply. Following closely is ENA, which will release 212.5 million tokens worth $58.12 million, equating to 3.59% of its total supply. OP will unlock 31.34 million tokens, adding $18.64 million in value to the market. KNMO is also scheduled for a significant release of 229.17 million tokens, worth $14.01 million, which equals 10.41% of its circulating supply. ZETA will unlock 44.26 million tokens valued at $8.06 million, or 5.04% of its supply. NEON will unlock 53.91 million tokens worth $5.52 million, representing 22.51% of its total supply—the highest percentage in the group.

In the linear token unlocks category, SOL will release 465,770 tokens, with a total value of $70.79 million. This accounts for 0.09% of the circulating supply. WLD will unlock 37.23 million tokens worth $34.43 million, or 2.23% of its current supply. TRUMP will release 3.45 million tokens valued at $31.52 million, equaling 1.73% of its total supply. TAO will unlock 50,400 tokens worth $17.22 million, accounting for 0.57%. DOGE is expected to release 95.49 million tokens, valued at $16.12 million, representing 0.06% of supply. AVAX will unlock 700,000 tokens worth $12.95 million, or 0.10%.

Other notable unlocks include ETHFI, MORPHO, and SEI. SUI will also release 3.35 million token unlocks in linear form worth $9.54 million. MORPHO and TIA will each unlock 6.96 million tokens, valued at $9.81 million and $10.44 million respectively. ETHFI’s unlock totals 8.46 million tokens worth $8.71 million, which equals 2.26% of its supply. DOT will release 2.3 million tokens, adding $6.80 million to the market. SEI unlocks 26.97 million tokens worth $6.30 million, which accounts for 0.49%. IP and JTO are also part of the schedule, with IP unlocking 2.32 million tokens worth $7.28 million and JTO unlocking 4.2 million tokens worth $9.42 million. These token movements contribute to this week’s total unlock volume across the ecosystem.

This week's token unlocks are expected to have a significant impact on the market, as the release of such large volumes of tokens can potentially affect the supply and demand dynamics of these cryptocurrencies. Investors and traders will be closely monitoring these developments, as the unlocks could lead to increased volatility and price fluctuations. The linear unlocks, in particular, are spread out over time, which may help mitigate some of the immediate market impact compared to the cliff unlocks, which release a large number of tokens at once. The highest percentage unlock by NEON, at 22.51% of its total supply, is noteworthy and could have a substantial effect on its market value.