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Major Altcoin Unlocks to Take Place This Week!! According to Token Unlocks data, a total of over $255 million in unlocks will take place in 12 altcoin projects between January 29 and February 4, including projects such as Optimism (OP), dydx (DYDX), and Sui (SUI).
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In general, the release of more than 1% of the circulating supply of tokens during unlocks can have a significant negative impact on the price. However, there is a possibility that the price may not be affected by selling if the news has been priced in or if the market is positive.
In particular, the unlock of 26.49 million tokens in OP, worth a total of $80 million, represents 2.77% of the circulating supply, drawing attention. Also, the $91 million unlock in DYDX should also be considered, as it has a 10.63% supply ratio. Furthermore, Sui is planning an unlock of around $62 million.
Altcoins to Unlock This Week:
- Optimism (OP): The locks of 26.49 million tokens, worth $80 million, will be opened starting at 07:00 CET on January 30.
- 1inch (1INCH): The locks of 79,000 tokens, worth $31,000, will be opened throughout the coming week. Unlocking operations will begin at 03:00 CET on January 31.
- Nym (NYM): The locks of 48.7 million tokens, worth $9.5 million, will be opened throughout the coming week. Unlocking operations will begin at 03:00 CET on January 31.
- Sui (SUI): The locks of 42.2 million tokens, worth $62 million, will be opened starting at 03:00 CET on January 31.
- Pendle (PENDLE): The locks of 322,000 tokens, worth a total of $725,000, will be opened throughout the coming week. Unlocking operations will begin at 03:00 CET on January 31.
- dydx (DYDX): The locks of 33 million tokens, worth $91 million, will be opened starting at 03:00 CET on February 1.
- Stepn (GMT): The locks of 23.3 million tokens, worth $6 million, will be opened throughout the coming week. Unlocking operations will begin at 03:00 CET in February.
- Yearn.finance (YFI): The locks of 1.42 tokens, worth $10,000, will be opened throughout the coming week. Unlocking operations will begin at 03:00 CET in February.
- Akash Network (AKT): The locks of 566,000 tokens, worth $1.6 million, will be opened throughout the coming week. Unlocking operations will begin at 03:00 CET on February 1.
- Tornado Cash (TORN): The locks of 91,600 tokens, worth $156,000, will be opened starting at 06:30 CET on February 1.
- Acala (ACA): The locks of 27.4 million tokens, worth a total of $2.2 million, will be opened starting at 10:00 CET in February.