Over $164.2 million worth of tokens are scheduled to unlock, according to Token Unlocks data. These unlocks span several major tokens, each with the potential to shake up the market. The total value and percentage of circulating supply released could significantly impact the market’s direction this week.
🔓 Weekly Cliff Unlocks : 26-1 August 24 🔓
🔥 $ 164.2m 🔥
🌟 Unlock Highlights 🌟$SUI (2.47%) – $54.6m$OP (2.64%) – $47.3m$ZETA (15.71%) – $30.3m$DYDX (3.67%) – $9.4m$YGG (3.71%) – $5.7m$PRIME (1.68%) – $4.9m$ENA (0.82%) – $4.78m
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( % of cir. supply) pic.twitter.com/VKNqffjSbl— Token Unlocks (@Token_Unlocks) August 23, 2024
Sui ($SUI) has the highest unlock of $54.6 million in tokens, equal to 2.47% of its circulating supply. Sui has posted good results over the recent past, as its price has gone up by 5.04% in the last 24 hours up to $0.885801. This price increase is accompanied by a trading volume of $143,480,532 per 24 hours, which shows the token is becoming increasingly popular among investors.
Likewise, Optimism ($OP) is expected to launch at $47.3 million tokens, which will constitute approximately 2.64% of the total tokens. This means that it can control 64.34% of its floating stock. Optimism has also posted an impressive rally with gains of 6.38% to $1.55, which holds a 24-hour trading volume of $133,714,479. This price upsurge can be attributed to the optimism surrounding the token especially as the unlock period nears.
ZetaChain ($ZETA) is another token with a significant unlock, releasing $30.3 million, which constitutes 15.71% of its circulating supply. ZetaChain’s price has seen a more modest increase of 2.93%, bringing it to $0.557713. The token’s 24-hour trading volume stands at $36,036,908, indicating a steady interest from the market.
Additionally, dYdX (Native) ($DYDX) will unlock $9.4 million in tokens, which is 3.67% of its circulating supply. The token’s price has risen by 1.71% in the last 24 hours, now trading at $1.14. Its 24-hour trading volume of $10,694,249 indicates continued market activity, reflecting cautious optimism among investors.
Yield Guild Games ($YGG) will unlock $5.7 million, or 3.71% of its circulating supply. The token’s price has increased by 1.55% to $0.405751, with a trading volume of $36,253,835 over the last 24 hours. This modest price gain suggests a stable market response to the upcoming unlock.
Echelon Prime ($PRIME) and Ethena ($ENA) also have scheduled unlocks, with $4.9 million (1.68% of circulating supply) and $4.78 million (0.82% of circulating supply), respectively. Both tokens have experienced price increases, with Echelon Prime up 4.29% to $6.53 and Ethena up 4.22% to $0.319558. Their trading volumes stand at $1,790,739 and $38,077,616, respectively, pointing to moderate investor engagement.