This week, from November 25 to November 30, the crypto market is bracing for over $80 million in token unlocks across seven major projects. The token unlocks are definitive moments, when the previously locked tokens are launched into the circulation, and its short-term volatility is usually observed.
These unlocks provide an essential understanding of the future liquidity changes and price trend to traders and long-term holders.
The crypto market rose 3.46% over the last 24h, rebounding from oversold conditions despite extreme fear sentiment.
BTC price rose above $86k, ETH price is still hovering around $2,800 as bulls eye more recovery if bthe ullish trend continues.
Largest Token Unlocks This Week: XPL, WCT, KMNO Lead the Pack
At the top of the list, there is Plasma (XPL), which will release 88.88 million tokens on November 25. Its total value is at $18.13 million, which is close to half its current market value.
Although it is only less than 1% of the overall supply, the effect may be substantial since it is large compared to its market price. Plasma has hitherto released 18.9% of its total tokenization.
The high-impact release of 128.12 million tokens (comprising 12.8 % of its total supply) of WalletConnect (WCT) will take place on November 26. This unlock is worth 14.84 million, which is a massively impressive 68.8% of the market cap of the project, indicating that there is significant downside risk without the demand snapping up the fresh supply.
The top three are rounded out by Kamino (KMNO), which unlocked 220 million tokens with a value of $11.22 million on November 30. The unlocked amount shows 2.2% of the total supply and 22% of its existing market cap.
Having almost 30% of its tokens unlocked, this event will be tracked down in terms of potential sell-offs.
More Token Unlocks Scheduled for November 25–30
Another film that unlocks on November 25 is Humanity Protocol (H). Having 91.67 million tokens valued at $10.78 million in circulation, this unlock contains 0.92% of the supply and 5.02% of the market cap. This is a high-dollar value and market cap impact, albeit not big in percentage terms, that may be of interest.
OP will issue 32.21 million tokens on November 30, worth 9.80 million. This unlock is smaller, being only 0.75% of its supply, but still counts since in the history of Optimism, unlocks have caused brief movements in price.
On November 30, ZORA will also unlock 166.67M tokens worth $8.68 million. This is 1.67% of the supply and 3.73% of the market cap, and almost half of the total supply is already unlocked.
This week ends with Unlock 3.18 million tokens at $6.91 million to Undeads Games (UDS). This is 3.10% of its market cap, though small in size.
These token unlocks will be scheduled such that market participants will be keen on price movements and volume explosions over the course of the week.
Source: https://coingape.com/trending/top-token-unlocks-to-watch-this-week/
