So, the crypto market is about to get hit with a wave of token unlocks this week. Like, what are we, fish swimming into a net? 🐟
According to Tokenomist, we’re looking at over $428 million in token unlocks between Mar. 18 and 24. Great, just what we needed, more volatility. 🙃
Tokenomist has laid out the schedule, which includes both cliff unlocks and linear releases. Cliff unlocks are like when you accidentally spill a whole bag of chips at once, and linear releases are like slowly eating those chips over the week. 🍟
The biggest unlock is Polyhedra Network (ZKJ), which will release 15.53 million ZKJ tokens, about 25.72% of its circulating supply, on Mar. 19 at 12 AM UTC. I mean, that’s a lot of chips. 📊
A day earlier, Fasttoken will release 20 million FTN tokens worth $79.8 million, accounting for 4.6% of its total supply. And QuantixAI will unlock roughly $41.71 million worth of QAI tokens the same day. Who needs sleep when you can watch token prices? 😴
Other projects include Metars Genesis, releasing 10 million MRS tokens at nearly $100 million, Mantra’s 5 million OM unlock worth $34.5 million, and Melania Meme, with 26.25 million tokens worth $17.9 million. It’s like a buffet of tokens. 🍽️
High-profile projects facing major linear unlocks include Solana (SOL), Worldcoin (WLD), Celestia (TIA), Mantra (OM), and Dogecoin (DOGE). These will unload $8.58 million, $4.55 million, $3.4 million, $2.61 million, and $2.38 million worth of tokens daily. Fun, right? 🎉
While these unlocks are supposed to control the release of new tokens and prevent massive sell-offs, they often put short-term pressure on prices. It’s like when you’re on a diet, but the fridge is full of ice cream. 🍦
As crypto.news previously reported, Solana (SOL) dropped 9% to its lowest level since mid-October as investors offloaded holdings ahead of the Mar. 1 unlock of 11.2 million SOL from the FTX bankruptcy estate. At the time of writing, SOL was down 6%, and TIA, WLD, and DOGE were also slipping, while OM managed a 4.7% gain. Who needs a roller coaster when you can just watch crypto prices? 🎢
The upcoming token unlocks come at a time when broader market jitters are already in play. With escalating US-China trade tensions and Trump’s latest tariffs, investors are getting antsy. And let’s not forget the Fed’s hawkish stance on interest rates. It’s like a perfect storm of uncertainty. 🌪️
When writing, the total crypto market capitalization had dropped over 3% to $2.81 trillion over the past 24 hours. I guess some people are just better at holding their breath than others. 🤔
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2025-03-17 10:19