Altcoins set for $2 billion cliff unlocks in September, IMX and TAIKO lead next week's unlocks

Token Unlocks data on Friday reveals $2 billion worth of tokens set for cliff unlocks in September. The new month will kick off with $82 million worth of tokens entering circulation next week, with Immutable X (IMX) and TAIKO seeing the highest volume.

IMX and TAIKO kick off September's first week with $82 million cliff unlocks

The crypto market is bracing for massive unlocks in September. More than $2 billion worth of tokens, including Solana (SOL) and Worldcoin (WLD), will enter circulation. Solana will unlock roughly $360 million of new supply, while Worldcoin is expected to unlock about $304 million worth of new tokens.

IMX, TAIKO, MODE, ENA, GAL, HFT, and DYDX will post $82 million cliff unlocks next week to begin the unlocks.

Cliff unlocks are events where a project unlocks tokens for investors, community members or advisors. This supply injection often leads to price declines for the token if demand fails to meet the increased supply.

IMX and TAIKO will see the highest unlock volumes next week, making up over 80% of the total cliff unlocks with a combined $66 million new supply injection. IMX will unlock tokens worth $46.11 million, about 2% of its current circulating supply. TAIKO will see $20 million of unlocks next week, representing 19% of its circulating supply.

Next week Unlocks

Both tokens are currently down over the past 24 hours and could see further declines following the increased circulation. 

Other tokens adding to their supply next week include MODE, which will receive $6.3 million in unlocks, worth 38% of its current supply. ENA will receive $3.5 million in new unlocks, GAL $2.3 million, HFT $1.97 million, and DYDX $1.4 million.