Over 40 Crypto Protocols Are Collectively Unlocking Over $740 Million Worth of Tokens in the Next 30 Days

Leading the pack is XAI's XAI token, with a staggering $109 million worth of tokens unlocking.

Several crypto protocols are preparing to collectively unlock over $740 million worth of tokens in the next 30 days, according to data from vesting analytics platform Token Unlocks.

These protocols include XAI, Aptos, Arbitrum, Immutable, OP Mainnet, Sui, Starknet, and Ethena. The largest scheduled token unlocks are XAI's XAI token, with $109 million set to be unlocked, followed by Aptos' APT token at $85 million and Arbitrum's ARB token at $80 million.

Other notable unlocks include Immutable's IMX token at $53 million, OP Mainnet's OP token at $61 million, and Sui's SUI token at $58 million. Starknet's STRK token and Ethena's ENA token are also scheduled to unlock, with values of $52 million and $37 million, respectively.

“This cycle has been marked by low float, high FDV tokens, where tokenomics design and unlock schedule are critical for a project's success,” Kelly Ye, portfolio manager at Decentral Park Capital, told Unchained via Telegram. “When a big unlock meets weak buying power, the price impact won't bode well for a project's long-term goal.”

Token unlocks are designed to gradually release cryptocurrencies over time, similar to the vesting schedules of traditional firms' shares, which aim to prevent early investors from immediately selling off substantial quantities of the asset.

These upcoming unlocks follow a recent batch, where oracle service network Pyth unlocked $736 million worth of tokens and layer 1 blockchain network Avalanche released about $369 million into the circulating supply last month.

“While unlocks create selling pressure on tokens, the actual impact depends on the market sentiment, trading volume, and specific cases for tokens,” said Ye. “The market usually anticipates large unlock events and could price in the price impact before the unlock.”

Among the tokens set to unlock in the next 30 days, the two largest cryptocurrencies by market capitalization, BTC and ETH, have dropped about 4% in the past seven days. However, the tokens set to unlock in the next 30 days have fallen harder.

XAI, the cryptocurrency with the largest unlock, is down 20% in the past week, while STRK has dropped about 27% in the same period. Of the mentioned tokens, the one that had the smallest decline in price was APT at 8.4%, with ARB following behind, decreasing 8.9% over seven days, according to CoinGecko.

News source：https://www.kdj.com/cryptocurrencies-news/articles/crypto-protocols-collectively-unlocking-worth-tokens-days.html

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