This week's large token unlock data;

This week, #ENA , #eigen , TAIKO, etc. will see a one-time large token unlock. According to Coinank data, among them:

Ethena (ENA) will unlock approximately 40.63 million tokens at 3 PM on June 2, accounting for 0.70% of the current circulation, valued at approximately $12.5 million;

Eigenlayer (EIGEN) will unlock approximately 1.29 million tokens at 3 AM on June 4, accounting for 0.42% of the current circulation, valued at approximately $1.7 million;

Cetus Protocol (CETUS) will unlock approximately 8.33 million tokens at 8 AM on June 4, accounting for 1.15% of the current circulation, valued at approximately $1.1 million;

IOTA (IOTA) will unlock approximately 8.63 million tokens at 8 AM on June 4, accounting for 0.23% of the current circulation, valued at approximately $1.6 million;

Taiko (TAIKO) will unlock approximately 81.55 million tokens at 8 PM on June 5, accounting for 69.37% of the current circulation, valued at approximately $46.9 million;

Spectral (SPEC) will unlock approximately 3.62 million tokens at 8 AM on June 6, accounting for 17.57% of the current circulation, valued at approximately $3.7 million;

Neon (NEON) will unlock approximately 53.91 million tokens at 8 AM on June 7, accounting for 22.51% of the current circulation, valued at approximately $6.1 million.

In June, there will be more than $2.7 billion in tokens unlocked, primarily from #sui ($206.33 million), #zro ($64.29 million), and #APT ($58.52 million).

We believe that the large unlock events of multiple tokens this week need to be evaluated in conjunction with market supply and demand and the project's fundamentals. Firstly, Taiko (TAIKO) has the most prominent unlock scale, with 81.55 million tokens released, accounting for 69.37% of the current circulation, valued at approximately $46.9 million. Such a high proportion of circulation flooding into the market at once may trigger significant selling pressure, especially since its ecological applications have not yet fully formed, and there is a lack of sufficient demand to absorb it in the short term, posing a high risk of price decline. Secondly, although Ethena (ENA) has an unlock ratio of only 0.7%, based on historical data, its token economy has structural contradictions: the protocol relies on token incentives to maintain the stablecoin USDe's scale, but ENA itself lacks a practical income distribution mechanism, leading to inflationary pressure and insufficient value support. In addition, both Neon (NEON) and Spectral (SPEC) have unlock ratios exceeding 15%, while their market capitalization is relatively small, and market liquidity is low, which may amplify price volatility.