This week, there is another wave of token unlocks, with the most significant movements being in $ENA, $MOVE, and $MOCA.

First, let's talk about $ENA. This time, the unlocked amount reaches a staggering 172 million tokens, which translates to about 50.37 million USD at current prices.

The main distribution is among two groups:

Core contributors received 93.75 million tokens.

Investors took away 78.13 million tokens.

This project focuses on the algorithmic stablecoin USDe, and the gameplay is quite unique:

In simple terms, it uses collateral like BTC and stETH to create a long-short hedge, relying on ETH staking rewards + short funding rates to stabilize.

The idea is sound, but when the unlock occurs, it can easily lead to a crash, so everyone should consider this carefully.

Next is $MOVE. The Movement project has unlocked 50.06 million tokens, equivalent to about 8.46 million USD.

Although the amount is not particularly large, the pressure is relatively significant due to its current low circulation (only 25%).

$MOVE's gameplay tends to be more tech-oriented, featuring a modular blockchain framework that is compatible with EVM and can connect to Move. The goal is to create a highly scalable chain that allows for 'building blocks' and enables developers to construct their own App Chains like building with Lego.

While this wave of unlocks isn't all massive amounts, the concentrated release of tokens like $ENA to investors and teams will certainly impact short-term volatility.

For those who are bearish, keep an eye on shorting opportunities; for those who are bullish, consider it a buying window, and remember to set a good stop-loss line.