This week, SUI, OP, ZETA, and others will experience a large one-time token unlock. Coinank data shows:

Optimism (#OP ) will unlock approximately 31.34 million tokens at 8:00 AM on May 31, accounting for 1.83% of the current circulation, valued at approximately 23.33 million USD;

Sui (#SUI🔥 ) will unlock approximately 44 million tokens at 8:00 AM on June 1, accounting for 1.32% of the current circulation, valued at approximately 158 million USD;

ZetaChain (#zeta ) will unlock approximately 44.26 million tokens at 8:00 AM on June 1, accounting for 5.34% of the current circulation, valued at approximately 11.34 million USD;

dydx (#DYDX ) will unlock approximately 8.33 million tokens at 8:00 AM on June 1, accounting for 1.07% of the current circulation, valued at approximately 5.06 million USD.

We believe that the large unlock events of several mainstream tokens this week will bring short-term disturbances to the market's supply and demand relationship. Among them, Sui (SUI) has the highest unlock amount, reaching 158 million USD, but its proportion of circulation is only 1.32%, indicating that SUI has a large circulation base, which may dilute the marginal impact of a single unlock. In contrast, ZETA's unlock amount accounts for 5.34% of the circulation, significantly higher than other projects, and combined with its smaller market capitalization, the token may face greater selling pressure after release.

From historical data, such unlocks are often accompanied by price fluctuations. For example, when OP unlocked in February 2024, it accounted for 1.93% of the circulation, with a higher market cap proportion, while this time the ratio has dropped to 1.83%, reflecting that the expansion of circulation has diluted the impact of a single unlock. Additionally, project teams may hedge market sentiment through the release of ecological progress and other positive news. For instance, OP, as a leading Layer 2 project, may attract funds to absorb selling pressure due to increased on-chain activity. DYDX, as a decentralized derivatives protocol, may alleviate liquidity pressure from the unlock due to recent growth in trading volume.

It is worth noting that high-value unlocking tokens (such as SUI) may have a higher probability of short-term price correction if they lack sufficient market buy support, but the long-term trend still depends on the project's fundamentals. Investors are advised to comprehensively assess risks by considering factors such as project ecological progress, market liquidity, and the unlocking parties (team/institution/community).