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This week's Token Unlock Overview: ADA, SUI, and a total of over $500 million Tokens will be released for these projects.
According to the Tokenomist data, the encryption currency market will see a large number of Tokens unlocked this week, including Sui (SUI), Optimism (OP), Immutable (IMX), Cardano (ADA), and 1inch (1INCH), releasing a total value of over 5.48 billion dollars.
"Token unlocking" refers to the release of Tokens allocated to early investors, team members, and development contributors after a period of lock-up, meaning that holders will be able to sell Tokens for cash, and therefore it is often considered an "Unfavourable Information event".
Cryptocurrency analysis company 10x Research has warned that a large number of Token unlocks may impact the competitive currency market, and risk investors may face the pressure of locking in recent gains, meaning that "even if these Tokens have positive momentum, their upward performance will still be limited after the Token unlocks."
The overview of Tokens and amounts (both valued over 1 k million USD) to be unlocked in the next 7 days is as follows:
November 26th: Cardano (ADA) Token unlocks worth 19.14 million US dollars
Cardano (ADA) will unlock 18.53 million tokens on November 26th, accounting for 0.05% of its circulating supply, currently valued at approximately $19.14 million.
November 27: ApeX (APEX) Token unlocks worth 17.46 million US dollars
ApeX (APEX) will unlock 9.24 million Tokens on November 37, accounting for 19.09% of its circulating supply, currently worth approximately $17.46 million.
November 29: Immutable (IMX) Token unlocks worth $42.66 million
Immutable (IMX) will unlock 24.52 million tokens on November 29, accounting for 1.47% of its circulating supply, currently valued at approximately $42.66 million.
November 30th: Optimism (OP) Token unlocks value of $67.7 million
Optimism(OP)will unlock 31.34 million Tokens on November 30, accounting for 2.5% of its circulation supply, currently worth about $67.7 million.
November 30th: 1inch (1INCH) Token unlocks worth 38.36 million US dollars
1inch (1INCH) will unlock 98.74 million Tokens on November 30, accounting for 7.72% of its circulating supply, currently worth approximately $38.36 million.
December 1st: Sui (SUI) Token unlocks a value of 219 million US dollars.
Sui(SUI)will unlock 64.19 million Tokens on December 1, accounting for 2.26% of its circulating supply, currently worth about 219 million US dollars.
December 1st: Zetachain (ZETA) Token unlocks worth $39.43 million
Zetachain (ZETA) will unlock 53.89 million Tokens on December 1, accounting for 10.41% of its circulating supply, currently worth about $39.43 million.
December 1st: The dYdX (DYDX) Token unlocks a value of $12,500,000
dYdX (DYDX) will unlock 8.33 million Tokens on December 1, accounting for 1.19% of its circulating supply, currently valued at approximately $12.5 million.
The unlocking of these Tokens is expected to have an impact on market dynamics. If market demand fails to keep up, the increased supply may exert selling pressure, leading to price fluctuation. It is recommended that investors closely observe market reactions to these events.
This week's token unlock list: ADA, SUI, and "these projects" together will release more than $500 million in tokens" This article was first published in Blockers.