This week, the cryptocurrency market is anticipating a significant influx of tokens due to the scheduled unlocks of various cryptocurrencies.
Introduction to Upcoming Events
A substantial influx of tokens worth $420 million is expected in the cryptocurrency market. Among these are Sui Network (SUI), Optimism (OP), ZetaChain (ZETA), Sleepless AI (AI), dYdX (DYDX), and Ethena (ENA) which will be unlocked between Monday and Thursday.
Details on Major Tokens
According to Tokenomist, 64.19 million SUI tokens (2.19% of the circulating supply) valued at $267.7 million will be released on January 1st. This will be followed by 53.89 million ZETA tokens (9.35% of the circulating supply) worth $32.21 million on the same day. Additionally, 31.34 million OP tokens (2.32% of the circulating supply) worth $58.61 million will unlock on December 31st, along with Galxe (GAL) tokens worth $4.18 million. On January 1st, 23.21 million AI tokens (17.85% of the circulating supply) worth $14.72 million and 8.33 million DYDX tokens (17.85% of the circulating supply) will also be unlocked.
Current Cryptocurrency Market Situation
While the market is preparing for these token unlock events, Bitcoin (BTC) is struggling to reach the $100,000 mark.
The upcoming token unlock events are likely to have an impact on the cryptocurrency market. Investors should stay informed about these developments.
