Markets
$208 million to flood the market
The crypto ecosystem will see a massive sell-off of several crypto tokens due to the token unlocking. Investors will unlock a total of $208.53 million worth of tokens over the next 7 days. Let’s explore these tokens and what we can expect from the market.
Major Token Unlocks on the Horizon
Data from the Drops tab reveals that 26 tokens will be unlocked in the next seven days. Let’s see which ones are on top.
Close protocol
Close protocol. This is because the unlock will happen in the next 5 hours. This token is currently trading at $6.34 and has a market cap of $7 billion. Currently, 94.70% of the total supply is in circulation. In the next 5 hours, the unlock will release 254,683 Near tokens. Near Protocol will systematically unlock these tokens over a 48-month unlocking period. Investors have already received 88.55% of the total locked tokens. This unlock will release an additional 0.03% of the supply to the market. 11.45% of the total market cap of this token is still locked. This makes a total of $726 million in locked supply. 0.03% of the maximum supply is released each day. The last unlocking round will take place on October 12, 2025.
Source: Coinmarketcap
XPLA
With a current trading price of $0.1244, the XPLA token has a market cap of $77.16 million. This token is also expected to be unlocked in the next 5 hours. This will unlock a total of 18.74 million XPLA tokens to the market. 80.75% of the total locked tokens have already been released. Today’s unlock will release an additional 0.94% of the supply. The last unlocking cycle will take place on December 21, 2026.
Source: Coinmarketcap
Mint layer
Launched in March 2023, this token only has 10.70% of its total supply in circulation. With a current market cap of $9.67 million, this token is trading at $0.15. It has 17.51% of the total supply locked in a long vesting contract. Each month, the vesting contract will release 1.12% of the total supply until February 2025. After that, the market will release 0.35% from March 2025 to December 2025.
Source: Coinmarketcap
In addition to these 3 tokens, SAFE, ALT, FP, ID, FIDA and 18 other tokens will be released from the locked supply. You can check the full list of all tokens that will be released in the next 400 days and plan your actions accordingly.
Source: Drops Tab
Impact of Token Unlocking Market
Historical market data shows two outcomes when investors unlock acquired tokens. Either investors withdraw their profits or they stake the tokens in various protocols to earn yield rewards. The staking feature is not available for all crypto tokens. People can sell the released tokens even if they are at a loss to invest the amount in other emerging cryptos. In most cases, investors profit from the acquired tokens because they bought them during the pre-launch or ICO rounds.
Also see: Will Matt Furie’s ‘Boy’s Club’ Memecoins See a 100x Increase in This Crypto Bull Run?