Crypto Markets Brace for Impact as $389M Worth of Token Unlocks Loom

The cryptocurrency market is preparing for the release of more than $389 million in token unlocks this week. This will include substantial one-time unlocks as well as more gradually distributed ones.

Among the significant unlocks are Solayer (LAYER), Ethena (ENA), and Spectre (SPEC), which are expected to release between $6 million and $86 million in tokens. LAYER will account for the largest release, with nearly 13% of its supply, worth approximately $86.73 million set to be unlocked.

Other activities include daily unlocks from Solana (SOL) and Worldcoin (WLD), and the release of 96.5 million Dogecoin (DOGE) tokens. These token unlocks often trigger sell-offs as early investors seek to realize profits, potentially destabilizing the market.