Before the interest rate cut, this wave of blue chip unlocks is indeed significant, but this time it might really be different.

8/28 — $JUP: ≈53.47M

8/31 — $MANTA: Amount undisclosed

9/1 — $OP: ~42.9M

9/1→3 — $SUI: ~49.5M

9/1 — $TIA: ~33.8M

9/4 — $IMX: ~24.52M

9/4 — $DYDX: ~1.55M

9/11 — $APT: ~11.31M

9/15 — $STRK: ~127M

9/15 — $SEI: Amount depends on the distribution table

9/16 — $ARB: ~92.65M

9/17 — $APE: ~15.6M

9/20 — $PYTH: ~236M

In the past, when people saw unlocks, they would all shout "negative news", but this time is a bit different. The reason is straightforward:

Teams and funds cannot change the unlock schedule, but they can choose the timing to handle their chips. Now everyone is betting on interest rate cuts starting in September, risk appetite is rising, and market-making budgets are also relaxed. At such times, project teams are even bolder in selling off during strong markets, and they can treat unlocks as incentives or OTC hedges.

In other words, unlocks ≠ simply dumping the market; this time it is more likely to be a "positive unlock" that resonates between the projects and the funds.

The key point is who dares to treat the unlock as a market accelerator.