- Linear unlocks for the next week are led by Solana (SOL) with a massive $112 million unlocking event.
- Cliff unlocks for the same period are led by Metars Genesis (MRS), unlocking tokens worth $53.7 million.
- DOT, AVAX, NEAR, SUI, and FIL also face linear unlocking events while ID faces cliff unlocking.
A few of the top blockchain projects will have token unlocking events this week. These include Avalanche (AVAX), Dogecoin (DOGE), Polkadot (DOT), Solana (SOL), Sui Network (SUI), Filecoin (FIL), and Near Protocol (NEAR). Investors may see millions of dollars worth of altcoins enter the market over the next seven days. This is often a bearish sign.
Token Unlocks to Release Over $260 Million in Value
Tokenomist (formerly Token Unlocks) reports that between December 17th and December 24th, 2.81 million DOT (0.18% of circulating supply) worth $24.35 million will enter the market. Also, 524,030 SOL (0.11% of circulating supply) worth $112.33 million and 700,000 AVAX (0.17% of circulating supply) worth $34.08 million will unlock.
In addition, 94.47 million DOGE (0.06% of circulating supply) worth $37.73 million, 2.97 million NEAR (0.24 of circulating supply) worth $19.72 million, 4.13 million SUI (0.14% of circulating supply) worth $19.55 million, and 2.24 million FIL (0.37% of the circulating supply) worth $14.47 million will unlock in the next seven days.
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With over $260 million entering the market soon, investors can expect price swings for these altcoins. Token unlocking events are usually seen as bearish. This is because the supply increases, but demand for the cryptocurrency stays the same.
Cliff Unlocks to Dominate Next Week’s Events
A huge $254.72 million in cliff unlocks will happen over the next seven days. Metars Genesis (MRS) leads the unlocking events, with $53.70 million worth of MRS tokens hitting the market. $38.92 million worth of Space ID (ID) tokens and $23.71 million in Apecoin (APE) will also unlock.
Cliff unlocks differ from linear unlocks as the former involves releasing a large number of tokens at once after a set period of time (vesting period). On the other hand, linear unlocks will release tokens gradually into the market, having a lesser effect on the prices.
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