Three cryptocurrencies will unlock over $130 million in tokens this week, which cryptocurrency traders should avoid having substantial exposure to. These unlocks have the potential to flood the market, leading to increased selling pressure and significant price fluctuations.
On June 26, Finbold retrieved data from the TokenUnlocks.app, which shows $198.42 million in the seven-day cliff unlocks. Notably, this week’s three leading protocols will release $137.02 million in tokens, accounting for 69% of the total. Fifteen projects make up the “next seven days cliff unlocks.”
Cliff Unlocks Next 7D. Source: TokenUnlocks.app
Moreover, Ripple will unlock 1 billion XRP on July 1, worth $470 million, as it does monthly. Finbold already covered Ripple‘s unlock in a unique report published today.
OP token unlocks on June 30. Source: TokenUnlocks.App
Sui Network’s (SUI) $54.6M token unlock
Another cryptocurrency to avoid trading due to recurrent monthly token unlocks is Sui Network (SUI). The competing layer-1 blockchain developed by former Meta Platforms (NASDAQ: META) engineers will inflate its supply by 2.7% this month.
On July 1, the protocol will unlock 64.20 million SUI for private investors, the development team, and the Mysten Labs treasury. Notably, private investors will receive 39.16 million SUI for over 60% of the total $54.63 million worth of unlocks.
Notably, this same amount of tokens was worth $70 million last month, evidencing the loss of purchasing power resulting from inflation.
SUI token unlocks on June 1. Source: TokenUnlocks.App
In closing, the last significant unlock is from io.net (IO), with a community release of 7.5 million tokens worth $27.23 million and a nearly 8% supply inflation.
IO token unlocks on June 1. Source: TokenUnlocks.App
Cryptocurrency traders will try to speculate on the economic effects of these unlocks and sell-offs on price, which could increase volatility and worsen the potential risk-reward ratio. The market is uncertain and influenced by multiple factors, requiring proper risk management and learning when to avoid trading specific cryptocurrencies.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
