Important crypto token unlocks this week, totaling almost $1.2 billion in crypto could affect the prices of the digital assets. Here are the top 7 token unlocks of the current week.
Top 7 Token Unlocks This Week – Almost $1.2 Billion in Crypto
1. Celestia (TIA)
According to CoinRank data, on October 31, over 175.7 million TIA tokens, representing 16.3% of the total token supply will be unlocked.
The amount to be unlocked is $923 million, or over 79% of the fully diluted market cap of the tokens which is $5.66 billion.
The same data reveals that 24.7% of the total token supply has been already unlocked.
Regarding TIA’s price during the past week, the coin debuted a descendant trend on October 25 from $6.22 levels to current prices of around $5.10.
Celestia is the first modular blockchain that enables users to deploy their blockchains with minimal overhead.
2. Sui (SUI)
On November 3, almost 82 million SUI tokens are set to be unlocked, representing 0.82% of the total token supply.
The unlock amount is $145 million or almost 3% of the fully diluted market cap of the token of $17.7 billion. According to CryptoRank data, 37.8% of the total token supply has been unlocked so far.
During the past week, SUI recorded a downward price trajectory, reaching a bottom of $1.66 today, ahead of a bounce back to $1.70 at the moment of writing this article.
3. Optimism (OP)
On October 31, Optimism will unlock over 32.2 million OP tokens or 0.75% of the total token supply. The unlock amount is $51.17 million which translates into 2.56% of the fully diluted market cap of $6.82 billion.
So far, almost 30% of the total token supply has been unlocked.
During the past week, the coin saw a significant price drop debuting on October 25 from $1.73 levels and reaching a low at $1.54 on October 26. Now, the coin is trading at around $1.61.
4. Immutable (IMX)
On November 1, Immutable will unlock over 32 million IMX tokens representing 1.62% of the total token supply.
The unlock amount will be over $43.4 million, representing almost 2% of the fully diluted market cap of $2.67 billion.
CoinRank data reveals that so far, over 82% of the total token amount has been unlocked.
In the past 7 days, the coin recorded a downward trajectory. The coin is down by 17% in the last week, and it’s trading around $1.31 after debuting the week at $1.6 levels.
5. Tribal Token (TRIBL)
On October 31, over 20 million TRIBL tokens are set to be unlocked, representing over 2% of the total token supply. The unlock amount is over $12.6 million, or 17.3% of the fully diluted market cap of $628 million.
So far, over 41% of the total token supply has been unlocked, according to data from CoinRank.
Tribal Token rebranded to Tribal Finance back in July, according to an announcement via X, which names the new project “the frontier of borderless financing for the global economy.”
Tribal Finance is an RWA protocol born from Global FinTechs.
At the moment of writing this article, TRIBL is trading at $0.63 following a price drop on October 25 from $0.75 levels.
6. Maverick Protocol (MAV)
On October 28, over 51.8 million MAV tokens will be unlocked, representing almost 2.6% of the total token amount.
The unlock amount is $8 million or 12% of the fully diluted market cap of the token of $308 million. So far, 19.4% of the tokens have been unlocked.
Regarding the token’s price during the past 7 days, the coin saw a notable price drop from $0.18 levels on October 24 to $0.14 levels on October 26 ahead of a rebound to current prices of around $0.15.
Maverick Protocol is a DeFi infrastructure provider focused on boosting industry efficiency.
7. Portal (PORTAL)
On October 29, over 25.6 million PORTAL tokens will be unlocked, representing 2.56% of the total token supply. The unlock amount is over $6.9 million or over 15% of the fully diluted market cap of $269 million.
So far, 36.7% of the total token supply has been unlocked.
In the past 7 days, the PORTAL token recorded a price peak at over $0.34 on October 23, followed by a drop to $0.26 levels on October 26. Overall, during the past week, the token saw a 14% price drop.
Portal aims to unite games and gamers from blockchain networks on its cross-chain token platform.
All these token unlocks set for this week are important events as they might influence the buying or selling pressure of the coins.
