SUI, OP, ZETA Lead $160M Crypto Token Unlocks Next Week

• The crypto market will experience a new supply injection to unlock the rock next week, worth $164.2 million.
• SUI and Optimism will witness the largest unlock event worth over $50 million and $40 million respectively.
• Athena, DYDX, YGG and PRIME are also set for unlocks of over $4 million each.

The SUI and Optimism (OP) rose on Friday, with gains of more than 20% and 8% respectively. However, it risks a correction next week due to big unlock events.

Crypto market poised for $164 million supply injection

The crypto market will witness another round of heavy token unlocks next week, with $164.2 million of rock unlocks entering the circulating supply of several top altcoins, per crypto-intelligence firm Token Unlocks.

Rock unlocks occur when team members, VCs, advisors, or community members receive a large portion of previously locked tokens. The injection of new supply into circulation often causes downward pressure on prices if there is no equivalent increase in demand or liquidity to absorb the selling pressure.

SUI will witness its largest unlock next week, releasing tokens worth 2.47% of its circulating supply – $54.6 million. This will bring the total unlock to 25.9%, with an overcharge of 74.1% still lurking. SUI is up over 20% in the last 24 hours, along with other cryptocurrencies.

Next is Optimism (OP) with about $47.3 million worth of unlocks, which is 2.64% of its circulating supply. This will bring the total unlock to 28%, with 72% of the supply still to go into circulation. OP rose more than 8% on Friday.

Zetachain (ZETA) will unlock 15.7% of its circulating supply worth over $30 million, bringing the number of unlocks to 16.2%. ZETA is up over 14% in the last 24 hours.

Other notable unlock events next week include DYDX, YGG, Echelon Prime (PRIME) and Athena (ENA) with unlocks worth $9.4M, $5.7M, $4.9M and 4, respectively .78 million USD.

Token is unlocked weekly

Investors should consider these unlocks and their implications for price performance before making investment decisions. Some investors believe the unlocks are bullish for the long term, but prices have yet to align with that belief.

“The last major token unlock we saw was with Arbitrum and it has struggled ever since, hitting all-time lows. This could be a warning sign for other tokens with future unlocks,” Token Unlocks wrote.

While the unlock may look bearish, the overall demand seen in the crypto market on Friday and the increase in stablecoin flows could help prices withstand the new supply pressure.