This week's large token unlock data;
Coinank data shows that this week 29,870,832,257, ENA, and DYDX and other tokens will see large unlocks. The following is in UTC+8 time, among which:
Sui (SUI) will unlock 44 million tokens at 8:00 on July 1, worth about 127 million USD, accounting for 1.3% of the circulating supply;
Ethena (36,020,773,414) will unlock 40.63 million tokens at 15:00 on July 2, worth about 11.29 million USD, accounting for 0.67% of the circulating supply;
dydx (76,156,420,895) will unlock 4.17 million tokens at 8:00 on July 1, worth about 2.25 million USD, accounting for 0.56% of the circulating supply;
EigenCloud (EIGEN) will unlock 1.29 million tokens at 23:00 on July 1, worth about 1.57 million USD, accounting for 0.41% of the circulating supply.
We believe that the large unlock events of tokens such as SUI, ENA, DYDX, and EIGEN this week, while part of normal market operations, need to be cautious of their potential impacts. Token unlocks are usually seen as bearish factors, as early investors or team members may sell to cash out, increasing market supply and causing short-term downward price pressure; especially in high volatility environments, such events can amplify market sentiment fluctuations, leading to liquidity tightness. However, the proportion of this unlock is generally low, accounting for a maximum of 1.3% and a minimum of 0.41% of the circulating supply. Historical data shows that small unlocks have limited impact on the overall market and are often buffered by project fundamentals or external factors.
DYDX, as the leader in decentralized derivatives, has a strong independent chain ecosystem, with a high staking rate. Its revenue distribution mechanism has shifted towards community token holders, which may enhance long-term confidence and partially offset unlock pressure. In contrast, although SUI is positioned as a high-performance public chain, the unlock value is relatively high (about 127 million USD), and market absorption capacity needs to be monitored; while ENA and EIGEN have smaller unlock scales, their impact may be even weaker. Investors are advised to prioritize examining project technical progress and ecological health, rather than short-term events. In the current market environment, unlock events may trigger localized volatility, but systemic risks are controllable. Robust projects like DYDX are expected to demonstrate resilience.