$461M in Token Unlocks Set to Hit Crypto Market This Week

SUI, ENA, and OP  are drawing significant attention in the crypto market this week as large token unlocks are scheduled, raising concerns about potential sell-offs.

What’s Next for Crypto Market Ahead Huge Token Unlocks This Week

As reported by coingape, market watchers are interested to see if these token continue to hold their grip, particularly when they face huge selling pressure due to upcoming token unlocks. Crypto investors are also looking forward to macroeconomic data out of the U.S. later this week, signs of rate guidance, and crypto policy in the regions that could have broader implications for sentiment.

The top five largest token unlocks from June 30 to July 7 include SOL ($70.79M), WLD ($37.25M), TRUMP ($31.52M), TAO ($17.33M), and DOGE ($11.64M), according to data from Tokenomics and WuBlockchain. These unlocks, whether cliff or linear in nature, represent substantial portions of circulating or total supply and are often followed by downward price pressure as early holders gain liquidity.

Token unlocks are a regular part of project roadmaps, distributing previously locked tokens to teams, investors, or community incentives. However, such events often trigger market reactions, especially if perceived as short-term profit opportunities by large holders.

Is A Huge Sell-Off Ahead for these coins?

There is a genuine risk of short-term sell-off, particularly for ENA, due to its large unlock relative to supply and price struggles. SUI and OP could also see downward pressure, though their smaller unlock percentages and better chart setups may help cushion the impact. As reported by coingape, SUI price is at a pivotal level with a make or break moment.

The chart analysis for these coins also presents a bearish outlook as these coins face strong resistance. Here’s a quick analysis round up:

• SUI is meeting strong resistance near $2.84, with selling pressure expected as traders react to the unlock  .

• ENA is consolidating around $0.25–$0.26, struggling to break higher as unlock looms  .

• OP, currently near $0.53–$0.54, also faces cautious sentiment tied to its upcoming unlock

Investors are advised to stay cautious as unlocks of this magnitude may result in huge volatility and whale movement.

Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on X at @sharmasunil8114 and reach out to him at sunil (at) coingape.com