Crypto market prepares for injection of US$214 million in unlocked tokens

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Crypto market prepares for injection of US$ million in unlocked
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Crypto market prepares for injection of US$214 million in unlocked tokens
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The cryptocurrency market is about to experience a significant supply surge, with more than $214 million in unlocked tokens expected to enter circulation next week.

Projects such as EigenLayer (EIGEN), Arbitrum (ARB), Axie Infinity (AXS) and Starknet (STRK) are among the main responsible for this movement. Unlocks can impact investor sentiment and, consequently, the prices of some cryptocurrencies.

Token unlocks occur when cryptocurrency projects release a portion of the tokens that were locked in the possession of investors, community members or advisors after a “lockup” period. This increase in circulating supply often creates uncertainty in the market. After all, growth in supply can put downward pressure on prices, depending on demand.

Among the biggest unlocks, Arbitrum (ARB), EigenLayer (EIGEN) and Axie Infinity (AXS) stand out. These three projects, together, will put around US$130 million worth of tokens on the market. ARB will release 2.56% of its current circulating supply to the team and private investors, totaling approximately $48 million.

Top token unlocks of the week

AXS will inject 9.25 million tokens, representing approximately 6% of its total supply, also valued at US$41 million.

Even with the imminent unlocking, both ARB and AXS showed gains between 2% and 3% at the time of writing this article. The EIGEN token, in turn, registered a loss of around 1% in the last 24 hours.

In addition to the three main projects, Starknet (STRK) will also have a significant unlock, adding US$25 million in tokens to the market for the team and private investors. The token has accumulated an increase of almost 2.5% in the last 24 hours.

In addition to the big names, other projects like Taiko (TAIKO) and ApeCoin (APE) are also scheduled to release $18 million and $10 million worth of tokens, respectively. Smaller unlocks include Ethena (ENA), Echelon Prime (PRIME), Cardano (ADA), and PIXEL, which will add between $3.8 million and $6.8 million each to the circulating supply.

The increase in the supply of tokens generally generates fear among investors, who fear selling pressure after the unlocks. With the sum of US$214 million in new cryptocurrencies entering the market, the next few days could bring additional volatility, especially for the projects involved. However, the actual impact will depend on demand and investor behavior in the coming days.

Crypto market prepares for injection of US$214 million in unlocked tokens

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Crypto market prepares for injection of US$214 million in unlocked tokens

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Crypto market prepares for injection of US$214 million in unlocked tokens

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