
Jakarta, Pintu News – This week, from November 25 to 30, crypto markets are bracing for more than $80 million worth of token unlocks from seven major projects. Token unlocks are key moments when previously locked tokens begin to be released into market circulation – often resulting in short-term price volatility.
This unwinding process provides traders and long-term investors with important insights into potential changes in liquidity and the direction of future price trends.
Meanwhile, the overall crypto market has gained 3.46% in the past 24 hours, bouncing off oversold conditions despite extreme fear in market sentiment.
Bitcoin price managed to break through the $86,000 level, while Ethereum is still moving around $2,800, with bulls eyeing a further recovery if this positive trend continues.
At the top of the list is Plasma (XPL), which will release 88.88 million tokens on November 25. The total value of these released tokens amounts to about $18.13 million, or almost half of the current market capitalization.
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Although the amount only accounts for less than 1% of the total token supply, the impact can be significant as the value is considerable compared to the market price. To date, Plasma has released around 18.9% of its total token supply.
Furthermore, a large release from WalletConnect will occur on November 26, with the number of tokens released reaching 128.12 million, or about 12.8% of the total supply.
The value of this disposal was $14.84 million, which is surprising as it equates to 68.8% of WCT’s current market capitalization. This signals the potential for high selling pressure if market demand is unable to absorb the new supply.
Rounding out the top three, Kamino will release 220 million tokens worth $11.22 million on November 30. This amount represents 2.2% of the total supply and about 22% of the current market capitalization.
With almost 30% of its total tokens already released to the market, this KMNO token release will be a major concern in terms of potential sell-offs by early holders.
In addition to major releases from XPL, WCT, and KMNO, several other crypto projects will also be conducting token unlocks throughout this week, potentially triggering price movements and spikes in trading volume.
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On November 25, Humanity Protocol (H) will unlock 91.67 million tokens worth approximately $10.78 million. While this amount only accounts for 0.92% of the total supply and 5.02% of the market capitalization, it is quite high in nominal terms and could have a significant impact on the price.
Then on November 30, Optimism is scheduled to release 32.21 million tokens worth approximately $9.80 million. This unlock is relatively small-only 0.75% of the total supply. However, in the history of OP’s price movements, unlock events like this have previously triggered short-term price fluctuations.
Still on November 30, ZORA will also open 166.67 million tokens worth $8.68 million. This represents 1.67% of the supply and 3.73% of the market capitalization. Notably, almost half of ZORA’s total supply has now been released to the market.
The week closes with Undeads Games (UDS) releasing 3.18 million tokens worth $6.91 million. This amount may seem small, but it is equivalent to 3.10% of the project’s market capitalization.
With a large total unlock value and distribution spread throughout the week, market participants are expected to keep a close eye on price movements and potential spikes in trading volumes that could occur as a result of this event.
Token unlock is the process by which previously locked tokens are released into general circulation, which often leads to short-term price volatility due to changes in available supply.
The total value of tokens to be released to the market this week is over $80 million.
WalletConnect (WCT) had the most impactful token release, with 128.12 million tokens released, worth $14.84 million and accounting for 68.8% of the project’s market capitalization.
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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.
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