- Solana, Worldcoin, Bittensor and other crypto projects are set to unlock tokens worth more than $400 million this week.
- Murasaki unlocks over 33% of its circulating supply, ApeX over 19% and Metars Genesis nearly 12%.
- Other notable crypto projects with token unlocks include Avalanche, Sei, Near Protocol, Dogecoin, Polkadot, Sui, and Filecoin.
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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
XRP rally likely as SEC appeal does not contest legal clarity of Ripple’s token
Ripple gains on Friday as traders digest the developments in the SEC's appeal against the final lawsuit ruling. In August 2024, Judge Analisa Torres fined Ripple $125 million for its institutional XRP sale and upheld the altcoin's non-security status in exchange-based transactions.
Crypto Today: Main tokens gain as Bitcoin is less than 10% away from all-time high
Bitcoin climbs above $68,000 and pulls back as market participants turn greedy, according to the indicator that checks trader sentiment. Ethereum holds gains above $2,600 and XRP hovers around $0.55 on Friday. Bitcoin price is 8% away from its all-time high at $73,777.
Bitcoin Weekly Forecast: Will the “Uptober” rally reach a fresh all-time high?
Bitcoin rallied nearly 8% so far this week until Friday after breaking its resistance barrier, aiming for a fresh all-time high. This rise in Bitcoin’s price is supported by an increase in institutional demand, which showcased a $1.86 billion inflows this week, the largest streak of inflows since mid-July.
Solana Price Forecast: SOL gains 2% as community discusses Firedancer validator for better performance
Solana price increases more than 2% on Friday, tracking the broad gains seen among the main cryptocurrencies, as its community discusses on social media the progress in the development of a new validator, Firedancer, that could boost the blockchain’s performance.
Bitcoin: Will the “Uptober” rally reach a fresh all-time high?
Bitcoin rallied nearly 8% so far this week until Friday after breaking its resistance barrier, aiming for a fresh ATH. This rise in Bitcoin’s price is supported by an increase in institutional demand, which showcased a $1.86 billion inflows this week, the largest streak of inflows since mid-July.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.