In a very bullish crypto market, over $180 million in crypto will be unlocked this week. The unlock events can potentially affect the coins’ price, triggering buying or selling pressure.
Here are the top 7 token unlocks to watch this week.
Top 7 Unlocks of the Week – Over $180 Million in Crypto
1. Optimism (OP)
On November 30, more than 31.2 million OP coins will be unlocked, representing 0.75% of the total token supply. The unlock amount is $71.5 million, or 2.57% of the fully diluted market cap of OP of $9.43 billion.
So far, 30.6% of the total token supply has been unlocked, according to data from CryptoRank.
Today, OP’s price surged by 10%, reaching $2.27, and a market cap of $2.85 billion, at the moment of writing this article. Earlier, OP hit $2.36 and a market cap of $2.96 billion.
Optimism (OP) is an L2 blockchain on Ethereum.
2. Immutable (IMX)
On November 29, over 24.5 million IMX will be unlocked, representing 1.23% of the total token amount. The unlock amount is almost $38.4 million, representing 1.46% of the fully diluted market cap of $3.1 billion.
So far, 84.1% of the total token supply has been unlocked.
Today, IMX recorded a price surge of 10%, reaching $1.74, and a current market cap of $2.9 billion. Earlier, the coin reached a price of $1.81, and a market cap of over $3 billion.
Immutable positions itself as the first L2 scaling solution for NFTs on Ethereum.
3. 1Inch Network (1INCH)
On December 1, over 74.2 million 1INCH coins will be unlocked, or 4.95% of the total amount. The unlock amount will be over $27.1 million, representing 5.77% of the fully diluted market cap of $554 million.
So far, 95.1% of the total amount of 1INCH coins has been unlocked, according to CryptoRank.
Today, the coin saw a price surge of 7%, and it’s now trading at $0.4. The coin now has a market cap of almost $514 million, after reaching over $523 million earlier.
The 1Inch Network unites decentralized protocols with fast and protected operations.
4. Santos FC (SANTOS)
On December 1, 2.87 million SANTOS coins will be unlocked, representing over 9.5% of the total amount of coins. The unlock amount will be over $12.1 million or 51.3% of the fully diluted market cap of the coin of $125 million.
So far, 33% of the total coins have been unlocked.
Today, SANTOS recorded a price surge of over 7% and it’s now trading at $4.38, with a market cap of over $24.3 million. Earlier, the coin reached a market cap of over $24.5 million.
Santos FC Fan Token (SANTOS) is a fan token of the football team that was launched by a partnership between Santos FC (a Brazilian Sports Club) and Binance Launchpool.
5. Skale (SKL)
On December 1, over 195 million SKL coins will be unlocked, representing more than 3.5% of the total amount. The unlock amount is $11.16 million or 3.75% of the fully diluted market cap of the coin of $398 million.
So far, 41% of the total amount of SLK has been unlocked.
SKL price is up by 5% today, and the coin is now trading at $0.06, with a market cap of $335.7 million. Earlier the coin reached a market cap of $342.7 million.
Skale is a modular blockchain network that has been designed to bring scalability to Ethereum.
6. Tribal Token (TRIBL)
On November 30, 20.08 million TRIBL tokens will be unlocked, representing a little over 2% of the total token amount. The unlock amount is $10.75 million, or 15.3% of the fully diluted market cap of the token of $591 million.
44.5% of the total token amount has been unlocked so far.
Today, TRIBL’s price dropped by 46% from $0.42 to the current price of $0.23. Now, the coin has a market cap of $18.6 million after reaching $33.7 million earlier today.
Tribal Finance is an RWA protocol born from Global FinTechs.
7. Portal (PORTAL)
On November 29, over 25.6 million PORTAL tokens will be unlocked, representing 2.56% of the total token amount. The unlock amount is $8.85 million or 15.2% of the fully diluted market of the token of $345 million.
So far, 39.3% of the total token amount has been unlocked.
PORTAL saw a price surge of 3% today, trading at $0.37. The coin now has a market cap of $137 million, after reaching over $149 earlier today.
Portal is a Web3 distribution platform, powered by Portal Pay, the cross-chain liquidity layer.
These are the most important token unlocks to watch this week, as the upcoming events could influence the coins’ prices.
