The investors are keeping close track of Solana (SOL), Dogecoin (DOGE), SUI, and other top altcoins prices as major token unlock looks ahead. Usually, the token unlocks tend to impact the value of the assets due to the supply-demand mechanism. Having said that, let’s explore some of the top crypto that the traders might avoid for the ongoing week.
Solana, SUI, & DOGE In Focus As Upcoming Altcoins Unlock Looms
The latest data from Tokenomist reveals a storm brewing in the crypto space. Over the next seven days, tokens worth more than $625 million are set to hit the market. This includes both cliff unlocks (one-time large releases) and linear unlocks (steady daily releases).
Major cliff unlocks are lined up for SUI, OMNI, IOTA, and others. These cliff unlocks involve heavy selling risks, as large volumes are released at once, shaking supply-demand dynamics.
On the other hand, Solana, WLD, TRUMP, TIA, DOGE, TAO, AVAX, and others are facing significant linear unlocks. Each of these projects is scheduled to unlock over $1 million worth of tokens daily, further pressuring their respective markets.
Quick Tour Of The Top Altcoins Unlock & Their Prices
As token unlocks often flood the market with supply, traders tend to exercise caution to avoid sudden price drops. Let’s explore the major altcoins facing risks this week.
Solana Unlock & Price
The image compiled by WuBlockchain from Tokenomist’s data outlines the looming unlocks for this week. One of the top altcoins, SOL, faces major pressure as a $67.61 million unlock looms for the crypto this week.
However, the recent SOL performance indicates that the investors might have shrugged off concerns amid a broader market recovery. SOL price today rose more than 2.5% to reach $151 from its 24-hour low of $144.89.
Meanwhile, Solana tops the list this week with a substantial $67 million worth of tokens entering circulation. Although it represents only 0.09% of SOL’s circulating supply, large holders could still trigger sell-offs.
DOGE Unlock & Price
Apart from Solana, another leading player in the digital assets space might also face pressure. Dogecoin (DOGE) will face a $17.09 million release this week. While relatively smaller in percentage terms, unexpected selling could easily sway the top memecoin’s highly sentiment-driven price.
However, DOGE price also rose around 0.7% to $0.1807, accompanied by a falling trading volume of 12% to $1.08 billion. Notably, the investors will keep close track of its upcoming movements, with many waiting on the sidelines before understanding the unlock’s impact on its value.
SUI Unlock & Price
SUI also stands out with notable cliff and linear unlocks totaling around $262.88 million. With both cliff and linear unlocks, the total value hitting the market is massive. Cliff unlock alone will release $262 million worth of SUI, roughly 2.27% of its supply.
Meanwhile, SUI price today also jumped alongside Solana, DOGE, and other top altcoins, rising 2% to $3.69. However, with the upcoming token unlocks, investors should exercise due diligence before putting their bets. Besides, the movement of whales also plays a crucial role in the coming days.
Last week, a whale put his bet on 3 altcoins, resulting in massive price surges. This reflects how these large investors influence the broader market sentiment.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
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.
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