3 Major Token Unlocks to Watch This Week
Over $650 million in crypto tokens will unlock this week, with major releases from Sui, Jupiter, and Sign impacting market volatility.Summary
The cryptocurrency market is set to experience significant token unlocks totaling over $650 million in the coming week. Key projects like Sui (SUI), Jupiter (JUP), and Sign (SIGN) will release substantial new token supplies, which could lead to increased market volatility and influence short-term price movements.
Sui (SUI) will unlock 42.62 million tokens on May 1, representing 1.08% of its released supply and valued at approximately $40.39 million. These tokens are allocated to Series B investors, the community reserve, early contributors, and Mysten Labs.
Jupiter (JUP), a liquidity aggregator on the Solana blockchain, will unlock 53.47 million tokens on April 28, worth about $9.77 million. This unlock, part of a monthly vesting schedule, is primarily allocated to the team and Mercurial stakeholders.
Sign (SIGN), an omni-chain attestation protocol, will release 401.1 million tokens on April 28, valued at $7.05 million. This represents 20.78% of its released supply and will be distributed to community incentives, the ecosystem, the foundation, backers, and early team members. Other projects like Optimism (OP), Treehouse (TREE), and Zora (ZORA) will also see new supply entering the market.
(Source：BeInCrypto)