- Several cryptos, including Sui, DYDX, ZETA, and ADA, have been reported to unlock a huge amount of their respective tokens into circulation.
- Sui is reported to release 64.19 million tokens ($213.77 million), while ZETA is expected to unlock 53.89 million tokens ($38.45 million).
According to reports, 26 cryptos, which include Sui, DYDX, ZETA, and ADA, are set for major token unlocks between November 25 and December 2 amidst the current market volatility. Based on our research, these could trigger a short-term drop and subject the ecosystems to long-term sustainability.
Sui (SUI)
From October 28 to November 4, Sui unlocked 64.2 million tokens ($111.06 million) into circulation, accounting for 2.3% of its circulating supply. In the current exercise, 64.19 million tokens ($213.77 million) would be released within a space of eight days.
At press time, Sui was trading at $3.6 after surging by 6% in the last 24 hours. Its network recently processed a staggering 298 million daily transactions to outpace its previous feat. According to analysts, a continuation of its positive on-chain activities could rapidly nullify the negative impact of its token unlock, sustain its bullish trend, and “send” the price to $4.7.
$SUI #SUI 1D chart
I know you guys wanna see ‘up only’ but let’s be realistic – pullbacks are healthy.
According to my EW count, we’ve finished this w4 small correction and we’re heading off to my next target – $4.7-5.2 pic.twitter.com/YzUsdQKzJE— CryptoBullet (@CryptoBullet1) November 26, 2024
DYDX
DYDX is set to be unlocked for $12.67 million amid the upcoming dYdX Unlimited upgrade. Currently, 63% of the tokens are unlocked, with 8.33 million ($13.25 million) expected to be released in the next two hours.
At press time, this asset was trading at $1.59 after surging by 4% in the last 24 hours. According to analysts, this asset could breach a crucial resistance level at $2.5 and potentially reach $7 before the end of the cycle.
ZETA
ZETA remains one of the largest impacts as it seeks to unlock an amount of 53.89 million tokens ($38.45 million), representing 10.41% of its supply. At press time, ZETA was trading at $0.78 after surging by 1.55% in the last 24 hours and 22% in the last seven days. According to an analyst identified as Bandhan Sharma Maverick Trader, the asset is “criminally undervalued” and could hit $1 soon. Amid the backdrop of this, ZETA has unveiled a partnership agreement with Google Cloud.
ADA
Cardano’s (ADA) unlock of $36.84 million tokens is expected to cause a drop in the short term. After the market stabilizes, the asset could breach its crucial resistance level at $1. At press time, ADA was down by 2% on the 24-hour price chart.
However, an analyst identified as Gambardello has predicted that the asset could hit $10. According to research, this could be triggered by the rising institutional interest, ETF speculation, and the surge in new users.
It is important to note that 26 tokens have been highlighted to embark on this token unlock exercise, including Solana (SOL), Avalanche (AVAX), Dogecoin (DOGE), and Near Protocol (NEAR).
There are a lot of token unlocks happening in the next 7 days!$sol, $sui, $avax, $ada, $op, $doge and more. Because of this we could see substantial price dips on these projects creating great buy opportunities. Chart: Wu Blockchain pic.twitter.com/UlrG0qfobd— CryptosRus (@CryptosR_Us) November 25, 2024
