$101M worth of tokens will be unlocked in the upcoming week.
Venom leads with $25.55M worth of VENOM tokens.
YGG, AGIX, ENA, and Optimism follow with notable unlocks.
These token unlocks may affect circulating supplies and prices.
A Major Week for Token Unlocks
According to data from Token Unlocks, the next week will see significant unlocks across several crypto projects, totaling over $101 million in value. As token unlocks are closely watched by investors and traders, this wave of releases could have market impacts, affecting supply, liquidity, and potentially price movements.
Among the biggest projects unlocking tokens are Venom, YGG, SingularityNET, Ethena, and Optimism. Let’s break down the most significant unlocks scheduled between September 25 and September 30.
Venom’s Major Unlock: $25.55M in VENOM
The largest single token unlock next week comes from Venom, which will release 235 million VENOM tokens, worth approximately $25.55 million. This event is set to occur on September 25 at 16:00, and the unlocked tokens will account for 12.66% of the total circulating supply. Such a large unlock could increase liquidity but may also lead to downward price pressure if holders choose to sell their tokens.
Venom is a project with growing traction, but with this substantial percentage entering circulation, market participants are likely to keep a close eye on how this affects the token’s market performance.
Other Noteworthy Token Unlocks
Yield Guild Games (YGG): $6.5M Unlock
On September 27 at 22:00, 14.08 million YGG tokens, valued at $6.5 million, will be unlocked. This release represents 3.65% of YGG’s circulating supply. As YGG plays a central role in the Play-to-Earn gaming sector, this unlock could attract attention from both gaming enthusiasts and investors watching the impact on its token price.
SingularityNET (AGIX): $5.82M Unlock
Another important unlock will happen on September 28 at 8:00, when 8.19 million AGIX tokens from SingularityNET will be unlocked, worth around $5.82 million. The tokens account for 1.63% of AGIX’s circulating supply. SingularityNET is recognized for its AI-related blockchain applications, so this token unlock may spark increased attention from those in the AI and blockchain intersection.
Ethena (ENA): $4.3M Unlock
Ethena will unlock 14.89 million ENA tokens on September 29 at 15:00, valued at $4.3 million, representing just 0.78% of the circulating supply. Though a smaller percentage compared to others, Ethena’s unlock could still impact token dynamics within its ecosystem.
Optimism (OP): $55.47M Unlock
Lastly, Optimism, a well-known Layer-2 scaling solution for Ethereum, will unlock 31.34 million OP tokens on September 30 at 8:00, worth a staggering $55.47 million. This represents 2.64% of OP’s circulating supply, making it one of the largest unlocks both in terms of value and supply percentage. As Optimism plays a crucial role in Ethereum scaling, this release could have broader effects on the Layer-2 ecosystem and its token price.
Market Impact of Token Unlocks
Token unlocks often lead to a mix of investor responses. While they increase liquidity, they can also contribute to short-term selling pressure if large holders decide to offload their tokens. However, these events can also attract new buyers looking to invest in tokens at potentially lower prices.
Investors and traders will be watching these unlocks closely for signs of how they might influence the price and demand of these tokens. With over $101 million set to enter the market, this could be a pivotal week for the circulating supply dynamics of several key projects.
Stay updated on these unlocks as they unfold and keep an eye on market reactions
