As we’re about to kick off Q4 of the year, here are some important crypto token unlocks to watch this week.
Top 7 Crypto Token Unlocks of the Week
1. Sui (SUI)
On October 3, 83.88 million SUI tokens (0.84%) worth over $146 million will be unlocked, according to official data from Crypto Rank. The amount represents 3.13% of the fully diluted market cap of the token at $17.36 billion.
So far, 26.8% of the total supply of the token has been unlocked.
On X, in a message on September 29, Sui announced that it had achieved $1 trillion in TVL in less than two years since the Mainnet launch, all thanks to the Sui community, projects, products, and builders.
2. Optimism (OP)
Today, September 30, Optimism will unlock 32.21 million tokens (0.75% of the total tokens) worth over $59 million. The amount represents 2.55% of the $7.84 fully diluted market cap. So far, 29.1% of the total supply of OP has been unlocked, according to data from Crypto Rank.
A few days ago, on September 26, Optimism announced via X that users would be able to benefit from Superchain Interop which kills network switching. Users can buy NFTs or tokens using funds from any interoperable Superchain L2.
3. Immutable (IMX)
Another token unlock worth watching this week comes from Immutable. On October 4, 32.47 million IMX tokens, representing 1.62% of the total tokens, will be unlocked. The unlock amount is over $55 million, representing 2% of the $3.42 billion fully diluted market cap.
So far, almost 81% of the total supply of the IMX tokens has been unlocked, official data notes.
Immutable is an important platform for building Web3 games on Ethereum.
4. dYdX (ETHDYDX)
On September 1, dYdX will unlock 11.14 million tokens worth over $12 million, representing almost 2.8% of the total tokens. The percentage of market cap about to be unlocked is 4.9% of the total diluted market cap ($1.08 billion).
So, far, according to Crypto Rank, 53.8% of the total token supply has been unlocked.
The DeFi trading platform dYdX just announced via a post on X that they introduced Isolated margin on their platform – allowing users to manage risk with precision, and limiting potential losses to only what they have allocated.
5. Worldcoin (WLD)
Today, another token unlock makes it into the spotlight. Worldcoin will unlock over 5 million WLD tokens, representing 0.05% of the total tokens. The unlock amount is $9.9%, more than 1% of the fully diluted market cap which stands at almost $19.7 billion.
Until now, 20.1% of the total token supply has been unlocked.
Worldcoin is empowering people with World ID, an anonymous digital passport that proves users’ humanness online in the age of AI.
The team behind the project recently highlighted the importance of distinguishing between humans and bots, while staying anonymous at the same time.
The project’s privacy pillars include the following:
- Security
- Anonymity
- Transparency
- Choice and Control
6. Echelon Prime (PRIME)
Today, Echelon Prim is about to unlock almost 752,000 PRIME tokens, representing 0.68% of the total token amount. The unlock amount is $7.71 million, which translates into 1.57% of the total fully diluted market cap of $1.13 billion.
By now, Echelon Prime has unlocked 37.4% tokens of the total token supply, according to data from Crypto Rank.
Echelon Prime is a gaming ecosystem powering Parallel (a Sci-Fi world and card game) and others with the PRIME token.
7. Galxe (GAL)
Galxe is set to unlock 3 million GAL tokens, on October 5, representing 1.5% of the total supply. The unlock amount translates into $6.96 million, which represents 2.35% of the total fully diluted market cap of $462 million.
It’s also worth noting that, according to Crypto Rank data, so far, 63.9% of the total token supply has been unlocked.
On September 27, Galxe shared a post on X by Gravity, reminding users that the great migration is still in motion. Users can migrate their GAL tokens to G.
Gravity is an L1 blockchain created by Galxe and designed for Web3 mass adoption and an omnichain future.
These are the top 7 crypto token unlocks worth watching this week, as the Q4 debuts.
Why Is Token Unlocking Important?
Token unlocking is important as it can influence buying and selling pressure for investors.
Ahead of the process or during the token unlock period investors could decide to sell their tokens to get profit and this could lead to price drops for the coins.
