|

Crypto market set for $189 million token unlocks next week, here's what to expect

  • OP, SUI, ZETA, and DYDX among tokens set for $189 million worth of unlocks.
  • AGIX will see $4.6 million unlock as the ASI merger continues. 
  • These tokens are up in the past 24 hours but may see quick retracements following next week's unlocks.

The crypto market will experience token unlocks worth nearly $190 million next week, with Optimism (OP) and Sui (SUI) set to inject over $50 million worth of new tokens into their circulating supply.

Crypto token unlocks to watch out for next week

Data from token tracker Token Unlocks reveals that OP, SUI, ZETA, GAL, DYDX, ENA, YGG, PRIME, AGIX, MANTRA, EUL, TORN, 1INCH, and FORT are poised to round up July with unlock events, where $189 million worth of their supply will be released into circulation.

Optimism (OP) and Sui (SUI) will see the highest unlock volume next week, with $54 million and $50 million of their tokens entering circulation, respectively. The unlock makes up over 2% of their circulating supply.

ZETA, GAL, and DYDX follow behind with $34 million, $13 million and $10 million worth of their tokens being unlocked, respectively. ZETA is the only token set to release more than 5% of its supply. Its $34 million unlock represents 18.92% of its circulating supply.

AGIX token is also set to add $4 million worth of its tokens to its circulating supply amid the ongoing merger with OCEAN and FET to become the Artificial Super Intelligence (ASI) token.

Token Unlocks data shows that all the tokens experiencing unlocks next week are up in the past 24 hours. Most of them will release less than 5% of their circulating supply to the market.

Token unlock events are known to historically affect the price of a token, often causing heavy declines.

Author

Michael Ebiekutan

With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addition to

More from Michael Ebiekutan
Share:

Editor's Picks

XRP defends $1.30 support as Ripple partners with Arf to bring RLUSD settlement liquidity to XRPL

Ripple holds near recently confirmed support at $1.30 on Friday, as bulls eye a short-term recovery toward $1.40. The remittance token’s upside remains capped by structural levels, suggesting recovery would depend on whether buyers can sustain momentum.

Bitcoin Weekly Forecast: BTC extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot ETFs recording $442.67 million in net inflows through Thursday.

Crypto Today: Bitcoin holds the 50-day EMA as Ethereum and XRP face structural resistance

Bitcoin gradually ticks up on Friday, trading above $81,000. The Crypto King has recently defended structural support near $80,000, reinforcing the prevailing bullish outlook. Ethereum similarly edges higher above $2,400, while Ripple trades above $1.32 after testing support around $1.30.

Pi Network holds modest gains as mixed technicals curb upside

Pi Network (PI) price is up 2% on Friday, showing signs of recovery while the broader cryptocurrency market faces near-term weakness. The crypto market sentiment eases to neutral from bullish amid rising long liquidations.

Bitcoin extends pullback as ETF inflows clash with risk-off sentiment

Bitcoin remains under pressure, trading around $81,800 on Friday, recording modest losses so far this week. Despite a mild pullback, institutional demand showed signs of a comeback with spot Exchange Traded Funds recording $442.67 million in net inflows through Thursday.