According to Token Unlocks data, over $164.2 million worth of tokens are scheduled to unlock this week. These events could significantly influence the market.
Major Token Unlocks
The most significant unlocks include SUI, with $54.6 million worth of tokens unlocking, which is 2.47% of its circulating supply, and OP, with $47.3 million worth of tokens unlocking, or 2.64%. ZetaChain is also set to unlock $30.3 million worth of tokens, which is 15.71% of its circulating supply.
Market Impact
Token unlocks have the potential to increase market volatility and trading activity. For instance, SUI's price has already risen by 5.04% in the last 24 hours, reaching $0.885801. Additionally, markets are expected to pay close attention to the unlocks of OP, ZetaChain, and other tokens.
Conclusion
The token unlocks worth over $164 million expected this week could play a crucial role in the market's direction. Investors and traders should closely monitor these events to anticipate possible market changes.
The upcoming token unlocks could be significant for the cryptocurrency market. Careful tracking and analysis of such events can help traders and investors make more informed decisions.
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