The cryptocurrency market is set for significant token unlock events in the coming week, with several major projects scheduled to release previously locked tokens. These events are expected to influence market dynamics due to the sudden increase in circulating supply.
According to data from Tokenomist, over $150.6 million worth of tokens are scheduled to be unlocked during this period. This sudden influx of supply may lead to notable price movements across affected assets.
Key Altcoins Facing Unlocks This Week
The most notable unlocks involve SUI, ENA, and OP. SUI leads the group with an unlock value of approximately $77.35 million, representing 0.86% of its circulating supply. Market participants are closely monitoring these events, as token prices often reflect both current sentiment and future expectations.
SUI: Holding Ground Under Bearish Pressure
SUI is currently trading near $2.65, struggling to break above the daily high of $2.84. Although several intraday recovery attempts were made, strong selling pressure emerged above the $2.70 level.
A key support zone has formed around $2.56, just above the psychological barrier at $2.50. A break below this level could trigger further declines. Conversely, a sustained move above $2.84 may renew bullish momentum. Given the impending token unlock, traders should prepare for potential increased volatility in the coming sessions.
ENA and OP: Uncertainty During Consolidation
Ethena (ENA) declined by 2.44% to $0.2525, with the intraday low of $0.245 serving as short-term support. Although the token attempted to recover, it faced resistance near $0.257 and continues to consolidate around $0.250.
With an unlock value of $43.24 million (2.82% of its circulating supply), ENA may face additional downward pressure. A break below $0.245 could lead to a test of the $0.240 level.
Optimism (OP) is trading at $0.5345, showing a pattern similar to ENA. Despite a slight recovery, it has been unable to reclaim the $0.545 level.
Support remains firm near $0.520, with short-term resistance between $0.542 and $0.545. A breakout above this zone could push prices toward $0.550. However, given the upcoming unlock of $16.69 million (1.79% of supply), traders are likely to remain cautious.
Smaller-Cap Tokens: KMNO and REZ Present Speculative Opportunities
Kamino Finance (KMNO) and Renzo (REZ) are also part of this week’s unlock events, with unlock values of $4.74 million and $2.59 million, respectively. KMNO is currently facing resistance near $0.059, with bearish momentum still in play. Support is located near $0.0555.
REZ, on the other hand, is trading in a narrow range around $0.00811 after bouncing from recent lows. With an unlock representing 12.16% of its circulating supply and relatively high trading volume, REZ may experience heightened volatility in the short term.
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Frequently Asked Questions
What is a token unlock?
A token unlock refers to the release of previously locked or vested tokens into the circulating supply. These events are often scheduled as part of a project’s tokenomics and can influence market liquidity and price action.
How do token unlocks affect prices?
Token unlocks can increase selling pressure if newly released tokens are sold on the market. This often leads to short-term price volatility, especially if the unlock represents a significant percentage of the circulating supply.
Which tokens have the largest unlocks this week?
SUI, ENA, and OP are among the tokens with the most substantial unlocks this week, with SUI leading at over $77 million in value.
Should investors be concerned about token unlocks?
While unlocks can cause short-term price fluctuations, they are typically planned events. Long-term investors often view these events as opportunities, though short-term traders may adjust positions accordingly.
How can traders prepare for token unlock events?
Staying informed about unlock schedules, monitoring trading volume, and setting appropriate risk management strategies can help traders navigate periods of increased volatility.
Where can I find more information on upcoming unlocks?
Several data analytics platforms provide detailed token unlock calendars. 👉 Explore more market insights