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Title: $484M in Token Unlocks This Week: SUI, SOL, ENA, DOGE, TRUMP To Dip?
As the crypto market continues to navigate its unpredictable nature, an imminent surge in token unlocks is expected over the next seven days. With a staggering amount of $484 million in tokens set to enter circulation, investors and traders must be prepared for potential price volatility, especially among smaller-cap tokens.
The sheer magnitude of this week’s token unlocks has raised concerns about the potential impact on market trends. Notably, SUI is expected to release the largest sum, a staggering $125.39 million, which represents a mere 1.29% of its total supply. ENA and KNMO are also set to unlock significant amounts, with $58.12 million and $14.01 million, respectively.
While some may argue that these unlocks will not have a profound impact on the prices of SUI, SOL, ENA, DOGE, TRUMP, or other tokens, history has shown us that such substantial releases can cause price fluctuations. Moreover, the increasing supply of tokens could lead to a temporary decrease in value for these digital assets.
In contrast, smaller-cap tokens like MORPHO, ETHFI, and SEI are expected to release around 2% of their total supply. Due to the relative insignificance of these coins compared to the larger-cap tokens, they may be more susceptible to price drops due to the increased token circulation.
It is imperative for investors and traders to remain vigilant and monitor market trends closely as this significant influx of new tokens hits the market. As always, it is essential to stay informed about the cryptocurrency market’s ever-changing landscape.
About the Author: Nidhi Kolhapur
Source: coinpedia.org
