This week, Metars Genesis (MRS) spearheads a $407 million token unlock event. Various projects are set to release tokens, which could influence market dynamics.
Cliff Unlocks: MRS and ADA
According to Tokenomist data, Metars Genesis (MRS) will unlock 10 million tokens, valued at $15.8 million, or 11.87% of its circulating supply. Following MRS, Cardano (ADA) will release 37.06 million tokens worth $13.59 million, accounting for only 0.10% of its circulating supply. APEX and MURA also plan significant unlocks worth $13.37 million and $12.72 million, respectively. Other notable unlocks include AITECH, ID, and YGG. Wu Blockchain also reports unlocks for KARRAT, TRIBL, and ENA.
Linear Unlocks Led by Solana and Worldcoin
Solana (SOL) leads the linear unlocks with 524.03K tokens worth $88.46 million, or 0.11% of its circulating supply. Worldcoin (WLD) follows with an $88.23 million unlock, representing 6.71% of its supply. Other major linear unlocks include TAO with $29.56 million and Avalanche (AVAX) with $20.01 million. Popular meme coin Dogecoin (DOGE) is also set to release 94.47 million tokens, valued at $13.66 million.
Market Impact
The token unlocks, totaling over $407 million, could cause selling pressure due to increased token supply. Projects such as SEI, NEAR, DOT, SUI, BEAM, and FIL also participate in the linear unlock event, with values ranging from $8.80 million to $15.87 million, releasing different percentages of their circulating supply.
While this week's token unlock of $407 million is less than last week's, it still holds the potential to significantly impact the market and its dynamics.