Significant token unlocks for cryptocurrencies like SUI and Wormhole are expected in the first week of April, potentially altering market conditions.
Major Token Releases to Shift April's Crypto Landscape
Numerous tokens are poised for unlocks this coming week, with SUI releasing 64.19 million tokens on April 1, representing 2.03% of its supply. Wormhole and Optimism also have substantial unlocks forecasted, impacting 47.4% and 1.93% of their circulations, respectively. These unlocks indicate a significant increase in token availability, potentially affecting demand and price expectations.
Experts Highlight Potential Price Impact on SUI and Others
Historically, major token unlocks such as SUI's can lead to short-term market alterations, given previous volatility after similar events. As of March 31, Sui (SUI) is priced at $2.24, with a market cap of $7.11 billion. Recent trading volume has decreased by 19.87%, with price changes noted over different periods: down 6.32% over 24 hours and down 45.87% over 90 days. The circulating supply is currently 3.17 billion out of a maximum supply of 10 billion.
Investor Recommendations and Statistics
Analysts from Coincu note that increased token circulation often leads to short-term price reductions. However, long-term effects may depend on broader market conditions and investor responses. Investors should consider supply dynamics and ongoing development progress.
Investors are advised to closely monitor changes in token circulation and assess potential risks and opportunities based on current market data and upcoming token releases.
