Ethereum L2 Altcoins Gear Up for $58 Million Token Unlock This Week!

Jakarta, Pintu News – Ethereum altcoin Layer-2 (L2) is bracing for a pressure-packed weekend, with $58 million worth of tokens set to hit the market.

In the past, such token unlocks have often triggered sharp sell-offs as well as accumulation opportunities for savvy traders – moments that are always closely watched.

This time, however, the outlook is less gloomy. Early indicators suggest that this Ethereum L2 token has the potential to avoid major selling pressure.

In this analysis, the CCN website outlines the factors driving such resilience and what traders can anticipate once the token is unlocked.

Arbitrum (ARB)

Kicking off the Ethereum L2 unlock series this weekend is Arbitrum (ARB). On August 16, the project will release 92.65 million ARB tokens into circulation – equivalent to about $47.78 million based on current prices.

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These tokens represent 2.04% of the total circulating supply. Currently, ARB is trading at $0.51, having previously reached $0.58 on Thursday, August 14.

Despite the recent decline, Arbitrum’s price does not seem to be in for a long-term correction. On the 4-hour chart, ARB is consolidating within a bullish pennant, a continuation pattern that usually precedes an upward breakout.

The token is currently testing the upper limit of the pennant. If buyers are able to push the price over the pennant ‘s upper trendline with significant volume, ARB could potentially target the latest swing high around $0.75.

In addition, the Chaikin Money Flow (CMF) indicator remains above the zero line. If this trend holds, ARB could even reach the $1 range. However, if the pattern fails and the price breaks the pennant support, ARB could again test the $0.48 zone before finding a new bottom.

ZKsync (ZK)

Next up in the Ethereum L2 token unlock series is ZK, the native cryptocurrency of the ZKsync protocol. Unlike Arbitrum’s optimistic rollup approach, zkSync uses zero-knowledge rollups to improve scalability as well as privacy.

On August 17, zkSync will release 173.08 million ZK tokens to the market – approximately 3.61% of the total circulating supply. Based on current prices, the value of the tokens released is estimated at $11 million.

Currently, ZK is trading around $0.064, up 15% in the past week. Although still about 80% below its all-time high, the daily chart shows that the token has the potential for further gains in the next few weeks.

Although the price of ZK has decreased recently, the daily chart shows bullish divergence. The MACD (Moving Average Convergence Divergence) indicator remains positive, signaling that the underlying momentum is still present.

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If this trend holds, the value of this altcoin could potentially break resistance at $0.085. The token could bounce towards $0.11, based on a 0.618 golden pocket ratio. However, if selling pressure increases, this scenario may not materialize, and ZK risks dropping to $0.037.

Ethereum (ETH) Effect

In conclusion, monitoring the price of Ethereum (ETH) is very important as it has a strong correlation with the tokens mentioned above. Ethereum could soon reach new all-time highs.

If that happens, the prices of ARB and ZK could potentially surge beyond the previously mentioned targets.

Conversely, if ETH falls below $4,000, both cryptos could face a double-digit correction.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• CCN. Ethereum L2 Altcoins Brace for $58M Weekend Token Unlock – What to Expect. Accessed on August 18, 2025