Cryptocurrency token releases worth $389 million poised to stir up digital marketplaces during the upcoming week
The digital asset realm is gearing up for a tsunami of tokens worth over $389 million hitting the market this week. Here's a run-down of what's in store:
A Tsunami of Tokens
Some significant one-time cliff unlocks and gradual linear unlocks releases are on the horizon. According to data from Tokenomist, as shared by crypto journalist Colin Wu, Solayer (LAYER), Ethena (ENA), and Spectre (SPEC) are among the projects that will unleash millions in tokens. Layers will be the largest contributor, with about 27 million tokens worth roughly $86.73 million up for grabs, accounting for nearly 13% of its total supply. The ENA project will inject just under $50 million, while Spectre (SPEC) aims to flood the market with a staggering 10 million tokens, worth approximately $21.3 million.
Other players in the game include Kaspa, which is set to release 144.64 million of its native KAS token ($13.39 million) and Movement (MOVE), which recently made headlines after suspending co-founder Rushi Manche due to a suspicious market-making deal with an obscure Chinese entity. Movement will deploy 2% of its supply for $8.45 million in the coming week.
Daily Unlocks
Apart from these one-time dumps, there will also be a consistent daily unlock process throughout the week. Solana (SOL) and Worldcoin (WLD) will activate 465,000 and 37.23 million tokens daily, respectively, between today and May 12, releasing $9.67 million and $5.11 million worth of their respective assets each day. Worldcoin has attracted attention after officially launching its controversial Orb-based biometric identity verification system in six U.S. cities on April 30, marking a significant geographical expansion.
Meanwhile, the Donald Trump-affiliated meme coin, TRUMP, will initiate daily token unlocks worth $5.49 million for the next seven days, despite claims that its team had moved large portions of the token's supply to centralized crypto exchanges. Lastly, Dogecoin (DOGE) will release 96.5 million tokens worth over $16 million across the week, with minor price fluctuations in the past 24 hours and a more noticeable 4.1% drop over the past seven days.
Remember, small changes in circulating supply can have significant impacts on market liquidity and price trends for these digital assets. Keep an eye on holder behavior and broader cryptocurrency market conditions as the week unfolds to determine the ultimate market impact. Enjoy the ride!
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[1] Solayer's Whitepaper
[2] Tokenomist
[3] Increased Digital Asset Market Emissions and Impact on Token Prices
[4] Analyzing Weekly Token Unlock Volumes to Guide Investment Strategy
- The digital asset market is bracing for a wave of tokens worth over $389 million, with projects like Solayer (LAYER), Ethena (ENA), and Spectre (SPEC) set to unleash millions in tokens, such as LAYER's 27 million tokens worth approximately $86.73 million.
- In addition to one-time token releases, several crypto assets, such as Solana (SOL) and Worldcoin (WLD), will undergo daily unlocks throughout the week, with SOL activating 465,000 tokens daily and WLD releasing 37.23 million tokens per day.
- With these large-scale token unlocks and daily unlock processes, it's crucial for traders to carefully monitor holder behavior and broader cryptocurrency market conditions, as they may lead to significant impacts on market liquidity and price trends for these digital assets.
