Let's break down this digital stew. Imagine a bunch of coins that were locked up finally seeing the light. This is called token unlocking. And what happens when there are a lot of new things in the market? Well, supply goes up and the price can drop. It's the law of life, or the market!
This week, things got heavy because $620 million in tokens from heavy projects like Sui, Optimism, and Solana are being released. It's like suddenly thousands of luxury cars hit the market. Will they keep costing the same? Maybe not.
Sui, the strongest tremor: This project is going to release $159 million all at once, a 'cliff' type unlock! 😨 This is what has traders on edge. Is a collapse coming? Data already shows that people are taking their coins out to sell them.
Heads up: if the price falls below $3.50, the danger is real. If it breaks $3.03, run!
Optimism, the one going against the tide: This is where the story changes. Optimism is also unlocking tokens, but investors are doing the opposite. Instead of taking their coins out to sell, they are keeping them in their wallets. 👀 This is called accumulation and is a sign that people trust the project's future.
It seems that buyers are ready to absorb everything that gets released.
Solana, the king of slow flow: Unlike Sui, Solana's unlocks are 'linear'. This means they are releasing the coins little by little, like a constant drip ($102.8 million in the week). That's why its price has remained more stable. It's as if the market can digest this new supply without choking. If confidence in Solana continues like this, it could withstand the blow, but one must be alert with the levels of $202 and $196.
In summary: not all unlocks are the same. Sui is on the tightrope, Optimism seems to be gaining strength, and Solana is calm. The impact on the market will depend on each project.
So, while some are rubbing their hands to sell, others are seeing this as a golden opportunity to buy at lower prices. The million-dollar question is: will this $620 million be a brake or a springboard for the next big leap in cryptocurrencies? We will have to keep a close eye on these three. 😉
