This week is poised to be one of significant volatility for the cryptocurrency market, with a substantial wave of token unlocks anticipated. According to a report from Tokenomist, shared by analyst Wu Blockchain, more than $297 million in digital assets are expected to enter circulation between November 17 and November 24. This influx of new supply could increase selling pressure on several key projects.
The massive token unlocks this week encompass both "cliff" releases, which are large one-time events, and daily linear unlocks. Analysts are closely monitoring these movements, as the entry of new supply can trigger price corrections, particularly if early investors and project teams decide to take profits.
The impact of these unlocks will be felt across some of the market's most traded assets, including Solana (SOL), Worldcoin (WLD), Dogecoin (DOGE), Avalanche (AVAX), Zcash (ZEC), and ApeCoin (APE), among others.
ZRO, SOL, and WLD Lead High-Value Unlocks
Several projects are facing large-scale, one-time unlocks, each exceeding $5 million in value. The most notable is LayerZero (ZRO), which will release 25.71 million tokens, valued at $37.28 million. This represents a considerable 7.29% of its total supply.
Following ZRO are SOON, with $25.86 million (4.33% of its supply), and YZY, with $14.59 million (12.50% of its supply). Other significant "cliff" unlocks include ZK ($8.71 million) and APE ($5.47 million). These types of sudden releases often generate strong short-term selling pressure.
Conversely, the Tokenomist report also highlights assets that, while not having as high a percentage unlock, will still impact the market due to their high dollar value. Solana (SOL) leads this category, with $69.53 million (491.44K SOL) scheduled to enter the market. This unlock represents only 0.09% of SOL's total supply.
Other assets drawing attention include TRUMP, with $34.48 million (2.45% of its supply), and Worldcoin (WLD), with $25.47 million (1.60%). Large-cap assets like Dogecoin (DOGE) and Avalanche (AVAX) will also see increases in their circulation, with $15.76 million and $10.94 million, respectively.
While tokens with high liquidity, such as SOL and AVAX, are expected to absorb this week's token unlocks more easily, the event arrives at a time of already elevated market volatility.
The information presented in this article is for informational purposes only and should not be interpreted as investment advice. The cryptocurrency market is highly volatile and may involve significant risks. We recommend conducting your own analysis.