SUI, SOL, WLD, IMX, ZETA Brace for Price Drops as Major Token Unlocks Loom

The crypto market is bracing for potential price declines in Solana (SOL), Sui (SUI), Worldcoin (WLD), Immutable (IMX), and ZetaChain (ZETA) due to upcoming major token unlock events. As more than $329 million worth of tokens are set to be unlocked between September 30 and October 6, these coins are at risk of experiencing supply shocks, potentially driving prices down.

Key Takeaways

• $329 Million in Tokens Unlocking: The cumulative token unlocks across five major altcoins—SUI, SOL, WLD, IMX, and ZETA—could trigger market volatility and price declines.
• Sui's Significant Unlock: SUI is set to unlock 64.19 million tokens worth $95.65 million on October 1, possibly increasing volatility despite strong fundamentals.
• ZetaChain's Sell Pressure: ZETA is particularly vulnerable with 13% of its circulating supply unlocking on October 1, increasing the risk of a price drop.

SUI’s Token Unlock on October 1

Sui (SUI) will unlock 64.19 million SUI tokens on October 1, valued at $95.65 million. This represents 2.4% of SUI’s circulating supply and may lead to heightened volatility. However, Sui’s total value locked (TVL) of over $900 million could help cushion any significant price declines.

Solana's $75 Million Token Unlock

Between September 23 and 30, Solana will unlock 524,030 SOL tokens worth $74.97 million. Despite the large value, this unlock only represents 0.11% of the total circulating supply, potentially mitigating a drastic price drop. Solana's strong market fundamentals, including adoption by financial institutions like Franklin Templeton and Citi, lend some optimism for SOL holders.

Currently, Solana is trading at $143.64, with a slight 0.76% drop in the past 24 hours but an impressive 10.04% surge in the past week.

Worldcoin’s $62.91 Million Unlock

Worldcoin (WLD) will undergo a linear unlock of 37.23 million tokens, equating to 8% of its circulating supply, between September 23 and 30. Approximately 22.37 million of these tokens will be distributed to the community, raising the potential for sell-offs. However, WLD's continued global expansion, including its World ID launch in Poland, may inspire some investor confidence.

Immutable’s 2% Supply Unlock

On October 4, Immutable (IMX) will unlock 32.47 million IMX tokens worth $53.58 million, representing 2% of its circulating supply. With a 46% price increase over the past week, a price correction may occur once the unlock is complete.

ZetaChain Faces Strong Sell Pressure

ZetaChain (ZETA) is at the highest risk of sell pressure with 53.89 million tokens—13% of its circulating supply—set to unlock on October 1. An additional 1.01 million tokens will be unlocked between September 23 and 30. Despite a 30% price surge in the past week due to its advancements in blockchain interoperability, ZETA faces significant downside risk due to the magnitude of the upcoming unlock.

Trade & Invite your friends to earn up to 20 $USDT worth of $HMSTR

1. New users on Bitrue will receive HMSTR tokens worth 10 USDT for their first trade of any spot pair. 
2. All users who invite three new users to register on Bitrue and complete any spot trade will receive HMSTR tokens worth 10 USDT.

FAQs

What are token unlock events and why do they impact prices?

Token unlock events release a large number of previously locked tokens into the market, increasing supply. This can lead to price drops if demand doesn’t match the new supply.

How will Solana’s token unlock affect its price?

Since Solana’s token unlock only represents 0.11% of its circulating supply, the impact may be minimal compared to other coins. Solana’s strong market fundamentals also provide some optimism.

Which altcoin faces the most risk from token unlocks?

ZetaChain (ZETA) faces the highest risk, with 13% of its circulating supply unlocking. The large influx of tokens could lead to significant sell pressure and price declines.