- Over $568 million in cryptocurrency tokens are set to be unlocked between September 30 and October 6.
- Solana, SUI, Worldcoin, Immutable, and ZetaChain are notable projects that will increase circulating supply.
- The unlocks are expected to allocate tokens to investors, founders, project teams, foundation reserves, and community members.
The cryptocurrency market is bracing for a wave of token unlocks, with over $568 million worth of assets set to be released into circulation between September 30 and October 6. The upcoming unlocks could have a profound impact on market dynamics, as some of the most notable projects will see significant increases in circulating supply.
SUI, Solana, and Worldcoin Lead the Unlocks
Token Unlocks, a tracker of crypto asset tokenomics, called attention to the statistics on the forthcoming unlock of prominent projects like Solana (SOL), SUI, Worldcoin (WLD), Immutable (IMX), and ZetaChain (ZETA).
Per the update, the largest share of this unlock event will be led by SUI, with over $108 million worth of tokens entering the market. Solana (SOL) and Worldcoin (WLD) follow closely behind, unlocking $75.90 million and $58.07 million, respectively. With such high-value releases, analysts expect heightened volatility as these tokens flood the market.
Also, Immutable (IMX) and ZetaChain (ZETA) will unleash tokens valued at around $54.88 million and $34.78 million by next week. The unlocks will be allocated to investors, founders, the project team, foundation reserves, and community members.
Tokens with Daily Unlock for the Rest of the Year
It is worth noting that projects like Solana are on a linear unlock schedule where tokens are released into the market each day. Specifically, Solana is seeing daily unlocks of 74,860 SOL tokens, equivalent to $9.96 million. In other words, 524,020 SOL tokens will enter the market in the next seven days, joining the existing 585 million tokens.
This daily unlock schedule, which began last year, will continue until December 2024 when a new schedule unlocking 66,540 tokens daily will start.
Meanwhile, despite this daily inflationary pressure, Solana’s price performance has been commendable over the past year. SOL is up by 635% in its yearly performance, with a current market price of $143.
Notably, Worldcoin is also on a linear unlock schedule with a daily inflationary pressure of $11.65 million. However, unlike Solana, WLD token performance over the past year is not very encouraging. WLD is up by only 8.70% since September 2023.
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