Significant Coin Unlocks Expected in the Cryptocurrency Market
The upcoming week promises significant activity in the cryptocurrency market, as a large number of coins totaling more than $443 million in value will be unlocked. Between June 16 and June 23, 2024, many coins will become available, introducing both one-time large-scale releases and notable daily linear releases. Data provided by Tokenomist and analyzed by WuBlockchain indicates that these coins are newly minted rather than released from existing circulation.
Major One-Time Coin Unlocks
During the week of June 16-23, nine distinct altcoins with a value exceeding $5 million each will experience substantial one-time coin unlocks. Topping the list is FTN, with 20 million coins worth $88.8 million, representing 2.22% of its total supply. Right behind is the ZK coin, with a release of 768.52 million coins valued at $38.24 million, or 20.91% of its total supply.
ARB follows, with 92.65 million coins valued at $30.79 million, representing 2.19% of its total supply. Another notable release is S, with 47.63 million coins worth $15.96 million, accounting for 1.63% of its overall supply.
ID will release 72.65 million coins valued at $12.03 million, making up 6.89% of its supply, while APE will see 15.60 million coins valued at $10.52 million, covering 1.81% of its total supply. MELANIA, LISTA, and ZKJ also rank among the altcoins experiencing significant one-time releases, each contributing to a noteworthy surge in circulating supply.
Daily Coin Unlocks for Altcoins
In the same period, daily linear unlocks will account for substantial volumes of coins entering the market. With a daily value exceeding $1 million, these releases span across 12 altcoins. Leading this category is SOL, with 465.77 thousand coins valued at $72.57 million, representing 0.09% of its total supply.
WLD is also making waves, releasing 37.23 million coins worth $36.78 million or 2.69% of its supply. Significant daily releases continue with TAO at 50.40 thousand coins valued at $18.81 million, equivalent to 0.57% of the total supply.
Additionally, DOGE will mention 95.89 million coins worth $16.93 million, representing 0.06% of its supply, while TIA will release 6.96 million coins valued at $12.32 million, totaling 1.03% of its supply. AVAX, SUI, and MORPHO, among others, will see their daily circulations increase significantly, potentially affecting market dynamics.