The crypto market is preparing for over $428 million in token unlocks, potentially leading to increased volatility.
Major Token Unlocks
Tokenomist data indicates significant token unlocks are expected between March 18 and 24. The most notable is the Polyhedra Network (ZKJ), set to release 15.53 million tokens, approximately 25.72% of its circulating supply, on March 19. Other significant unlocks include Fasttoken and QuantixAI releases, as well as projects like Metars Genesis, Mantra, and Melania Meme.
Crypto Market Reaction
Token unlocks often result in short-term price pressure, as evidenced by recent events. Solana (SOL) recently saw its price drop by 9% following a token unlock, reaching its lowest point since October. Similar declines were observed for TIA, WLD, and DOGE tokens, while OM bucked the trend with a slight gain.
Global Economic Conditions
These unlocks are occurring amid global economic uncertainties, including escalating US-China trade tensions and the Federal Reserve's hawkish monetary policy, which may exacerbate crypto market fluctuations.
The upcoming token unlocks, combined with current economic conditions, could significantly impact crypto price dynamics in the near term.
