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Massive $500M Token Unlocks Incoming: SOL, DOGE, APE, and More Lead the Pack

Massive $500M Token Unlocks Incoming: SOL, DOGE, APE, and More Lead the Pack

CCNCCN2024/10/13 16:00
By:CCN
Key Takeaways
  • Worldcoin (WLD, Solana (SOL), Axie Infinity (AXS), and Arbitrum (ARB) will unlock over $200 million worth of tokens combined.
  • Linear unlocks distribute tokens gradually over a pre-set time; cliff unlocks happen immediately.
  • Depending on the token and market condition, token unlocks can unleash significant selling pressure.

Over the next seven days, roughly half a billion in token unlocks will flood the market, potentially adding selling pressure to crypto markets.

Upcoming Linear Unlocks

According to TokenUnlock data , the following altcoin unlocks will be gradually released into the markets through linear unlocks between Oct. 14 and Oct. 21.

Firstly, Worldcoin ( WLD ) will be the largest linear unlock of the week as it drops 37.23 WLD (7% of the circulating supply), worth roughly $86 million. Furthermore, Solana ( SOL ) will unlock 524,030 SOL (0.11% of circulating supply), valued at just over $80 million.

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Bittensor (TAO) will unlock 50,400 TAO tokens (0.68% of the circulating supply) worth $31.6 million over the coming week. Also, Avalanche (AVAX) is scheduled to unlock 700,000 tokens (0.17% of the circulating supply) worth around $20 million.

Other linear unlocks include:

  • Sei (SEI) 32.2 million (1% of circ. supply) – $16.8 million
  • NEAR Protocol (NEAR) 2.97 million (0.24% of circ. supply) – $14.4 million
  • Polkadot (DOT) 2.81 million (0.3% of circ. supply) – $12 million
  • Dogecoin (DOGE) 94.47 million (0.06% of circ. supply) – $10.6 million
  • Sui (SUI) 4.59 million SUI (0.17% of circ. supply) – $10.2 million
  • Filecoin (FIL) 2.24 million (0.38% of circ. supply) – $8.2 million
  • Beam (BEAM) 495.14 million (0.96% of circ. supply) – $7.9 million
  • Arkham (ARKM) 3.82 million (1.37 of circ. supply) –

Upcoming Cliff unlocks

As per TokenUnlocks data, the following tokens will be immediately dropped into the markets via cliff unlocks from Oct. 14 to Oct. 21.

Arbitrum ( ARB ) will unlock 96 million (2.65% of the circulating supply) worth approximately $52 million, making it the biggest cliff unlock of the week. Additionally, Web3 gaming’s first “big hit,” Axie Infinity (AXS), will be unlocking 9.25 million AXS tokens (6.08% of the circulating supply) worth around $44.3 million.

EigenLayer (EIGEN) has 11.22 million (6.01% of the circulating supply) worth $40.25 million set to be unlocked. Additionally, Starknet (STRK) will drop 64 million STRK (3.3% of the circulating supply) tokens worth $27.85 million on the market.

Other cliff unlocks include:

  • ApeCoin (APE) 15.6 million (2.31% of circ. supply) –  $11.8 million.
  • Pixels (PIXEL) 54.38 million (7.05% of circ. supply) – $7.8 million
  • Cardano (ADA) 18.53 million (0.05% of circ. supply) – $6.5 million
  • Echelon Prime (PRIME) 750,000 (1.57% of circ. supply) – $6.2 million

All in all, distributing millions of major altcoins across the market this week could result in some selling pressure on cryptocurrency markets, which have been looking a little more bullish than usual.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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