Several prominent names within the altcoin sphere are preparing for a wave of token releases as numerous unlock events are on the horizon. As per insights shared by Tokenomist, a considerable number of leading altcoin initiatives are anticipated to witness an escalation in available supply during the initial week of December.
This impending wave is expected to release approximately $578 million worth of tokens into the marketplace. Notably, an in-depth examination of multiple unlocking timelines reveals that this belongs to a cumulative total of $3.5 billion in token unlocks scheduled for December.
Significant Altcoin Unlocks Planned For Early December
The first week of December is poised for a notable series of token unlocks throughout the altcoin market, summing up to an impressive $574.8 million. These weekly cliff unlocks, planned between December 2nd and December 8th, will introduce substantial fresh liquidity into the market, which could pose a risk to the developing altcoin rally.
Among the key events, Solana-based JTO tops the list with an astonishing $496.71 million in tokens scheduled for release, resulting in an impressive 103.32% boost to its circulating supply. Cardano’s ADA, a more seasoned token, will see a smaller release of $19.44 million, accounting for just 0.05% of its overall supply. While this is noteworthy, it is quite probable that it will be readily absorbed by the prevailing purchasing momentum surrounding ADA.
Following closely, NEON will unlock $21.15 million, representing a 44.92% increase in its supply. Other significant unlocks include TAIKO with $17.47 million (11.38%), ENA with $9.17 million (0.45%), and HFT with $3.11 million (2.87%).
Weekly Cliff Unlocks : 2 – 8 Dec ’24
$574.8m +
Unlock Highlights $JTO (103.32%) – $496.71m$NEON (44.92%) – $21.15m$ADA (0.05%) – $19.44m$TAIKO (11.38%) – $17.47m$ENA (0.45%) – $9.17m$HFT (2.87%) – $3.11m
.
( % of cir. supply) pic.twitter.com/K2IoEq7YPr— Tokenomist (prev. TokenUnlocks) (@Tokenomist_ai) November 29, 2024
What Effects Will These Unlocks Have On Crypto Values?
When previously restrained tokens are made available, they enter the trading arena, often causing a rapid elevation in supply. This inundation can exert a downward influence on values, particularly if a large portion of holders choose to sell immediately.
Data from Tokenomist.ai suggests that December is likely to usher in more remarkable token releases in addition to those already mentioned. Among these, Hyperlink (HYPE) stands out with an astonishing $1.48 billion worth of tokens slated for release.
Considering its current market capitalization of $2.297 billion, the influx of such a considerable supply into the market could significantly influence its prices, particularly if a significant number of holders opt to liquidate their unlocked tokens.
Sui (SUI) also makes an appearance on this list, with $218.26 million equivalent to 2.3% of its entire supply scheduled for unlocking. On top of that, Optimism (OP) will witness a release of $73.34 million worth of tokens.
Featured image sourced from Pexels, chart derived from TradingView