Solana News Today: Over $620M in crypto tokens unlock this week driving market pressure

This week marks a significant token unlock event, with over $620 million in crypto assets scheduled for release across major blockchain ecosystems. Among the leading names in this batch are SUI and Jupiter (JUP), two high-profile projects whose token distributions are expected to draw considerable attention from investors and market analysts.

The SUI blockchain is set to unlock 44 million SUI tokens, valued at $159.26 million, which accounts for 1.25% of the total supply scheduled for this week. This is the largest single-dollar-value unlock event of the week. The token release is part of a pre-scheduled unlock timeline designed to gradually introduce tokens into the market and manage liquidity [1]. Meanwhile, Jupiter (JUP) is also set to unlock 53.47 million tokens, valued at $26.96 million, which represents 1.78% of its unlock supply allocation. The unlock is expected to create significant selling pressure due to the large number of tokens entering circulation [1].

Other major projects such as Optimism, KMNO, and HUMA are also contributing to the unlock wave, with each unlocking millions of tokens worth several million dollars. For example, Optimism (OP) is releasing 31.34 million tokens valued at $23.91 million, while HUMA is unlocking 337.92 million tokens worth $9.84 million, which represents 23.38% of its unlock supply—by far the highest percentage of any major project in this batch [1]. Smaller projects like VENOM, SOPH, and ALT also contribute to the unlock wave, with each releasing tens of millions of tokens across various valuations.

Linear unlocks are also a key factor in this week’s market dynamics. Solana (SOL) leads in this category, with 506.47K tokens valued at $102.80 million being distributed over the week. While this represents 0.09% of Solana’s circulating supply, the sheer volume and value suggest that market participants are closely monitoring the impact [1]. Other linear unlocks include 4.89 million TRUMP tokens valued at $41.96 million and 37.23 million WLD tokens from Worldcoin, valued at $35.58 million.

The unlock wave is not limited to large projects. Smaller projects such as Orderly and Elumia Crowns are also progressing through their unlock phases. Orderly, for instance, has a 30.60% unlock progress with 50 million ORDER tokens scheduled for the next release [1]. Elumia Crowns, on the other hand, has already achieved 95.28% unlock progress and will release 14.16 million ELU tokens next. These smaller unlocks highlight the ongoing evolution of token distribution strategies across the crypto ecosystem.

The cumulative effect of these unlocks is likely to create heightened market pressure, particularly in the short term. While the gradual and scheduled nature of these releases may mitigate some of the potential volatility, the increased liquidity could still influence price trends. Investors are advised to monitor trading volumes and price movements closely, especially in the days immediately following the unlocks.

The event underscores the importance of liquidity management in the crypto market, particularly for projects aiming to balance token availability with price stability. With SUI and JUP leading the largest dollar-value unlocks, the coming week could serve as a litmus test for market resilience and investor sentiment in the face of increased token supply.

Source: [1] Crypto News: Solana and Dogecoin Among $620M in Token Unlocks Next 7 Days

(url: https://coinpedia.org/news/crypto-news-solana-and-dogecoin-among-620m-in-token-unlocks-next-7-days/amp/)