$389M of Token Unlocks to Hit the Crypto Markets in a week

The crypto market is preparing for major token unlocks totalling more than $389 million in value over the next seven days. Such large supply surges are likely to stir up the already volatile crypto markets even further. The largest cliff unlocks one-time events with over $5 million in release, including SPEC, ENA, MOVE, LAYER, KAS, and NEON, as per tokenomics data providers. Several linear unlocks are scheduled, which will release over $1 million daily for tokens like SOL, WLD, DOGE, AVAX, and SUI, among others. Top Tokens to Watch: SPEC, ENA, MOVE If you are confused about what tokens to follow, here’s a quick list of the top projects to watch out for during this chaotic token unlock: ENA (Ethena) tops the list of token unlocks to watch this week. The project is set to release 171.88 million tokens worth $49.52 million, accounting for 3.1% of its total supply. As a relatively new DeFi project that has attracted a lot of attention lately, ENA could see sharp price moves following this unlock. SPEC (Spectrum) is the next token in the list to review with the largest relative unlock at 48.5% of its total supply. With nearly half the tokens entering circulation, SPEC is likely to face heightened volatility and possible sell pressure. And lastly, MOVE, which is the native token of MoveZ fitness and lifestyle project, and is going to unlock 50 million tokens worth $8.45 million. Such a sudden spike in circulating supply could affect liquidity and short-term price action. Sui is another project traders are eyeing closely this week. Analysts expect heavy selling pressure with over 88 million SUI tokens worth $296 million set to unlock. Price models suggest a possible 20% drop if the bearish scenario plays out. Timing and Sentiment of the Market Sentiment heading into the unlock window remains mixed. According to one analyst, SPEC and NEON are seeing growing sell-side pressure, while KAS, although oversold, still carries risk. Volume across the board is thinning, suggesting traders may be front-running the unlocks, raising the chance of whipsaw moves if panic selling starts. Traders should monitor wallet activity, gauge social sentiment, and analyze order book depth closely across these assets. Tokenomics dashboards like TokenUnlocks and Tokenomist can help track real-time data. Large token unlocks such as these often create short-term volatility in the market but can also create opportunities for traders who remain patient. Some projects quickly experience profit-taking, while others see price rebounds as and when the market gradually absorbs newly unlocked tokens. ✓ Share: Coingape Staff CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss. Source: https://coingape.com/major-token-unlocks-worth-389m-set-to-hit-crypto-markets-this-week/