The cryptocurrency market is preparing for a potential price change as a significant amount of tokens are scheduled to be unlocked next week. These unlocking processes, that is, the introduction of new tokens into circulation, are critical. Because it may lead to an increase in sales pressure, affecting prices and causing volatility. Savvy crypto investors understand the importance of monitoring token supply and demand to make informed trading decisions. Understanding upcoming token locks allows them to predict potential price fluctuations and manage risk effectively.
Cryptocurrency experts gave a warning
The data obtained from TokenUnlocks.App and the predictions of Finbold analysts attract attention. Because it reveals that there is a potential sale of tokens worth $ 373.11 million in the next seven days. The peak occurred on May 31 and June 1, reaching a total of $219.67 million. Optimism is at the top of the top 3 cryptos where a significant amount of tokens have been unlocked, which investors should be careful about.
Optimism (OP), a popular layer two scaling solution for the Ethereum network, is at the forefront of potential sales. On May 31, the protocol is scheduled to unlock 31.34 million OP tokens, currently worth $80.23 million. This represents an increase of approximately 3% in the circulating supply of OP. This recurring inflation cryptokoin.com As reported by, it can have a detrimental effect on the price of the token. Contributors to the protocol receive a significant share (16.54 million OP tokens worth $42.35 million). However, private investors will also have the opportunity to cash out $37.89 million worth of tokens.
Also unlocked for DYDX and SUI
Decentralized exchange protocol dYdX (DYDX) has garnered attention due to its upcoming token unlock. Because it has become the center of attention again due to possible price fluctuations. Similar warnings had previously been made in April and March. Because 33.34 million tokens worth 70.33 and 117.33 million dollars were unlocked in DYDX, respectively. The trend continues. Because 33.34 million DYDX tokens, currently worth $70 million, are planned to be unlocked on June 1. This represents a significant monthly inflation rate of 12%, which will significantly impact DYDX investors.
Finally, Sui Network (SUI), the blockchain developed by former Meta Platform engineers, stands out. This is another cryptocurrency to watch out for due to recurring monthly token unlocks. The grid is scheduled to increase its supply by 2.8% this month. A total of 65.08 million SUI tokens will be unlocked on June 1. Because it will be distributed among private investors, the development team and the Mysten Labs treasury. Private investors, in particular, will receive the lion’s share (39.16 million SUI), representing more than 60% of the total $70 million unlock value.
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