- More than $421M worth of tokens from SUI, OP and ZETA are set to unlock this week, hinting at a possibility of price swings.
- SUI leads in the unlocks with $267.69M, which is about 2.2% of its total circulation supply.
- Greater percentages contained in projects similar to AI and ZETA will be unleashed thus endangering market liquidity.
The final week of the calendar year 2024 is expected to bring several major events in the crypto market, one of which is major token unlocks. From December 30 in 2024 to January 5 in 2025, more than $421.65 million worth of tokens from various projects will be; it is the most sensitive period for market players.
Major Token Unlocks as SUI Leads the Unlocks
Out of the features, SUI tops the charts with the most significant unlock worth about $267.7M which is 2.2% of the token’s total supply. This considerable unlock comprises portions to private investors, founders, and the community, that may influence market liquidity and price trends.
This major event has prompted analysts to maintain a keen interest towards SUI. Besides, the opinions of market participants indicate that in case of growing selling pressure, important levels are around $0.80 and $0.85. On a positive note, if demand does follow suit with the increase in supply, the SUI price could be heading towards the $1.10 handle resistance level.
The market rate for SUI’S on December 30, 2024, showed that the cryptocurrency has had a decline in the market.The value of SUI has declined to $4.09 in the last 24 hours. The cryptocurrency was down 3.63% on the day.
Other Key Unlocks with Market Implications
Apart from the three projects above, there are other projects that will also launch significant token amounts including AI, DYDX, and ENA. The AI token will unlock tokens worth $14.7M or nearly 18% of its circulating supply, with distribution to be made to research at its core and the team.
At the same time, DYDX is unlocking tokens worth $13 million, or 1.17% of its total supply, other less significant token unlocks include MAV and SIDUS, releasing tokens worth $7.93 million and $2.16 million.