Major

Impact

Optimism

Coin

This week, the cryptocurrency market is bracing for significant movement as 12 different crypto projects will unlock approximately $300 million worth of tokens. Among these, three projects—SUI, Optimism (OP), and ImmutableX (IMX)—are set to release over $220 million worth of tokens, potentially creating selling pressure in the market. Investors holding SUI coin and other affected tokens should be particularly vigilant, as price drops may occur due to the increased supply.
<h2 id="what-does-token-unlocking-mean-for-the-market">What Does Token Unlocking Mean for the Market?</h2>
Token unlocking refers to the release of previously locked tokens into the market. These tokens are often held by venture capitalists or under vesting contracts that prevent them from being sold for a certain period. Once unlocked, the sudden influx of tokens can disrupt the supply and demand balance, leading to potential price drops.
In the next seven days, a total of $291.59 million worth of tokens will be unlocked, with 75% of that value coming from just three projects: SUI, Optimism (OP), and ImmutableX (IMX). These figures come from TokenUnlocksApp, a platform that tracks the release schedules of locked tokens.
<h2 id="significant-unlocking-for-sui-coin">Significant Unlocking for SUI Coin</h2>
The largest token release will come from SUI on October 1, when 64.20 million SUI tokens will be unlocked, valued at $105.28 million at current prices. This represents 36% of all tokens to be unlocked this week and accounts for 2.4% of SUI’s circulating supply.
<img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-15705" src="https://www.turkishnyradio.com/wp-content/uploads/2024/09/highlighting-the-unlocking-of-tokens-for-SUI-Optimism-and-ImmutableX-with-a-focus-on-selling-pressure-The-image-show.webp" alt="highlighting the unlocking of tokens for SUI Optimism and ImmutableX with a focus on selling pressure The image show" width="1792" height="1024" title="Major Selling Pressure Looms: SUI Coin and 2 Other Altcoins Unlock Tokens 2" srcset="https://www.turkishnyradio.com/wp-content/uploads/2024/09/highlighting-the-unlocking-of-tokens-for-SUI-Optimism-and-ImmutableX-with-a-focus-on-selling-pressure-The-image-show.webp 1792w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/highlighting-the-unlocking-of-tokens-for-SUI-Optimism-and-ImmutableX-with-a-focus-on-selling-pressure-The-image-show-768x439.webp 768w, https://www.turkishnyradio.com/wp-content/uploads/2024/09/highlighting-the-unlocking-of-tokens-for-SUI-Optimism-and-ImmutableX-with-a-focus-on-selling-pressure-The-image-show-1536x878.webp 1536w" sizes="(max-width: 1792px) 100vw, 1792px">
A substantial portion of the SUI tokens will be distributed to Series A and B private investors, who may opt to sell their holdings, thereby increasing market liquidity. Additionally, 39% of the unlocked tokens will be transferred to the Mysten Labs Treasury and a community reserve controlled by Mysten Labs. This could lead to a surge in SUI tokens entering the market, possibly causing a price decline.
<h2 id="optimism-and-immutablex-to-follow">Optimism and ImmutableX to Follow</h2>
Alongside SUI, Optimism (OP) and ImmutableX (IMX) will also release a significant number of tokens. On September 30, Optimism will unlock 31.34 million OP tokens, valued at around $57 million. On October 4, <a href="https://www.turkishnyradio.com/connecticut-crypto-scam-recovery-results-in-63500-seized/" target="_blank" rel="noopener noreferrer nofollow">ImmutableX </a>will release 32.47 million IMX tokens, worth approximately $57 million.
These tokens will be distributed across key groups. For Optimism, tokens will go to “Core Contributors” and “Investors,” while ImmutableX will allocate its unlocked tokens toward “Ecosystem Development” and “Project Development.” The release of these tokens could create short-term price pressure, as new supply enters the market.
<h2 id="potential-market-impact">Potential Market Impact</h2>
With such a large influx of unlocked tokens, the market may experience short-term selling pressure, particularly for SUI, Optimism, and ImmutableX. Investors and traders should keep a close watch on how these releases affect the prices of the tokens, as increased supply often results in price declines.

Major Selling Pressure Looms: SUI Coin and 2 Other Altcoins Unlock Tokens

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