Crypto tokens unlock over $400 million in coins this week: Solana, Worldcoin, Bittensor among top 3

Solana (SOL), Worldcoin (WLD) and Bittensor (TAO) lead among those crypto projects set to unlock millions of dollars worth of coins this week. Data from token unlock tracker Tokenomist.ai shows several projects are lined up to unlock over $400 million in cryptocurrencies. 

Crypto token unlocks release coins that were previously out of circulation.Therefore, these events can contribute to selling pressure on exchanges and negatively impact prices once released as they increase the coin’s supply levels. 

Traders need to keep an eye on the prices of Murasaki (MURA), ApeX (APEX) and Metars Genesis (MRS), as these three projects will unlock the largest percentage of their circulating supply. 

These projects are set to unlock large volume of crypto tokens

Solana unlocks 524,030 SOL tokens, worth $88.46 million; Worldcoin 37.23 million WLD tokens, worth $88.23 million; and Bittensor will release 504,000 TAO tokens worth $29.56 million. 

Other key unlocks include 10 million MRS, 37.06 million Cardano (ADA), 12.86 million Ethena (ENA), 700,000 Avalanche (AVAX), 35.20 million SEI, 2.97 million Near Protocol (NEAR), 94.47 million Dogecoin (DOGE), 2.81 million Polkadot (DOT), and 2.24 million Filecoin (FIL). 

Token unlocks this week 

MURA, APEX, MRS unlock largest percentage of circulating supply

MURA, APEX and MRS unlock 33.27%, 19.39% and 11.87% of their circulating supply, respectively. Typically, when token unlock accounts for over 1% of the crypto’s circulating supply, it is likely to negatively impact price. 

Therefore, Traders need to watch these three assets for higher volatility this week. 

While an increase in a cryptocurrency’s circulating supply is typically bearish, planned unlock schedules may have less of an impact since the community of traders anticipates the unlock and likely positions themselves accordingly.