The upcoming token unlocks for SPEC, $ENA , $MOVE , and others are projected to introduce $389 million into the market, potentially causing short-term fluctuations.

The cryptocurrency market is bracing for significant token unlocks exceeding $389 million in value within the next week.


Such substantial increases in supply are expected to exacerbate the existing volatility in the crypto markets.

The most considerable cliff unlocks are one-time events releasing over $5 million, which include SPEC, ENA, $MOVE , LAYER, KAS, and NEON, according to data from tokenomics providers.

Additionally, several linear unlocks are planned, which will distribute over $1 million daily for tokens such as SOL, WLD, DOGE, AVAX, and SUI, among others.

Top Tokens to Watch: SPEC, ENA, MOVE

In the event of uncertainty regarding which tokens to monitor, here is a concise list of the leading projects to observe during this tumultuous token unlock period: ENA (Ethena) is at the forefront of token unlocks to consider this week, with plans to release 171.88 million tokens valued at $49.52 million, representing 3.1% of its total supply.

As a relatively recent DeFi initiative that has garnered significant attention, ENA may experience considerable price fluctuations following this unlock.

SPEC (Spectrum) follows as the next token to examine, featuring the largest relative unlock at 48.5% of its total supply.

With nearly half of its tokens entering circulation, SPEC is anticipated to encounter increased volatility and potential selling pressure.

Lastly, MOVE, the native token of the MoveZ fitness and lifestyle project, is set to unlock 50 million tokens valued at $8.45 million.

This abrupt increase in circulating supply could influence liquidity and short-term price movements.

Additionally, Sui is another project that traders are closely monitoring this week, as analysts predict substantial selling pressure with over 88 million SUI tokens worth $296 million scheduled to unlock. Price models indicate a potential 20% decline if the bearish scenario materializes.

Timing and Sentiment of the Market

The sentiment leading up to the unlock period is currently mixed. One analyst notes that SPEC and NEON are facing increasing sell-side pressure, while KAS, despite being oversold, still presents certain risks.

Overall trading volume is decreasing, indicating that traders might be anticipating the unlocks, which heightens the likelihood of erratic price movements if panic selling occurs.

Traders are advised to keep a close watch on wallet activities, assess social sentiment, and thoroughly analyze the order book depth for these assets.

Tools such as TokenUnlocks and Tokenomist can provide valuable real-time data for tracking tokenomics.

Significant token unlocks like these typically induce short-term market volatility but can also present opportunities for traders who exercise patience.

Some projects may quickly see profit-taking, while others might experience price recoveries as the market gradually accommodates the newly unlocked tokens.

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