Token

Solana

Yield Guild Games

Ethena

Today, the overall <a href="https://news.todayq.com/ether-bitcoin-price-skyrockets-then-crashes-what-happened/" rel="noopener noreferrer nofollow">cryptocurrency market</a> is experiencing massive downside momentum, with top cryptocurrencies including Bitcoin, Ethereum, and Solana seeing price falls of over 4%, 6%, and 5% respectively. Following this ongoing bearish market, Token Unlocks shared tokenomics insights on X (previously Twitter) indicating that between May 27 and June 2, 2024, $376.27 million worth of tokens are scheduled for unlock. $376 million tokens set to unlock next week&nbsp; 
Among thesetoken unlocks, top cryptocurrencies like Optimism (OP), Sui (SUI), Ethena (ENA), 1inch (1INCH), dYdX (DYDX), and many others are scheduled to unlock. These unlocks represent a mix of Layer 2 solutions, DeFi platforms, NFT ecosystems, and gaming tokens. Each event carries potential implications for market liquidity, price volatility, and investor sentiment. 
According to Token Unlocks, Optimism (OP) leads with an unlock of $82.12 million, which represents 2.88% of its circulating supply, scheduled for May 31, 2024. This event is likely to impact the liquidity, price, and trading behavior of OP. On June 1, 2024, Sui (SUI) will release $70.35 million worth of tokens, accounting for 2.78% of its circulating supply. As a high-performance blockchain, Sui’s unlock could increase trading volumes and market activity.
Additionally, on June 1, 2024, dYdX (DYDX) will experience a massive $66.33 million token unlock, which is equivalent to 11.91% of its circulating supply. This significant release could lead to notable price movements and increased trading activity. Ethena (ENA), a recently launched token, is also scheduled for June 1, 2024, unlock of $47.97 million worth of ENA tokens, which is 3.62% of its circulating supply. This could influence Ethena’s market dynamics and investor sentiment. Tokens unlock impact on market&nbsp; 
Furthermore, 1inch (1INCH), the decentralized exchange aggregator, will see an unlock of $40.76 million, equivalent to 8.52% of its circulating supply. This event could impact liquidity provision and trading strategies on the platform. Additionally, Prime (PRIME) will release $29.10 million worth of tokens, representing 4.23% of its circulating supply, potentially driving market interest and trading volumes.
Besides these top tokens, other tokens including Yield Guild Games (YGG), NYM (NYM), SingularityNET (AGIX), Acala (ACA), and ZetaChain (ZETA) are also scheduled for token unlock. If the current sentiment doesn’t change, the coming week may see a massive fall in the cryptocurrency market due to this substantial token unlock.

$376 million of tokens set to unlock next week: Report

Todayq News

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