Will SUI, SOL, WLD, IMX, ZETA Prices Crash As Major Unlocks Are Upcoming?

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Five digital currencies – Solana (SOL), Sui (SUI), Worldcoin (WLD), Immutable (IMX), and ZetaChain (ZETA) – may be at risk of a price drop due to impending token unlocks. These events often create a pessimistic market atmosphere, as they can trigger significant selling activity among investors who choose to liquidate their holdings in the market.

SUI, SOL, WLD, IMX, And ZETA Risk Price Crash

The value of these alternative cryptocurrencies could experience a substantial drop due to the impending release of over $329 million worth of locked funds. According to Token Unlocks, this massive release is scheduled between September 30 and October 6, creating an oversupply situation that might trigger a price plummet for these coins.

Sui’s Token Unlock Scheduled For October 1

On October 1st, an unbinding event for the altcoin’s token is scheduled, releasing approximately 64.19 million SUI worth around $95.65 million into circulation. This amount represents about 2.40% of the total circulating SUI supply, which might cause market fluctuations or volatility for this alternative coin.

On the other hand, it’s clear that SUI has robust underlying strengths. These could potentially shield it from a price drop that might otherwise occur. The total value locked (TVL) on the Sui Network surpassed $900 million, suggesting strong investor attention towards this altcoin.

Almost $75 Million Set To Flood Solana

Approximately $74.97 million worth of SOL (524,030 units) will be released between September 23 and 30. Since this is a gradual release, it’s not expected to significantly affect the cryptocurrency’s price. Notably, these tokens make up just 0.11% of Solana’s total circulating supply.

It’s noteworthy to point out that the foundational aspects of the network suggest a positive trend for SOL, with the Frankendancer upgrade recently going live on the Mainnet last week being one such factor. Additionally, notable institutions like Franklin Templeton and Citi are embracing this network for their upcoming services.

Worldcoin’s $62.91 Million Liner Token Unlock

Similar to SOL, Worldcoin’s token, WLD, will undergo an unlock of approximately 37.23 million tokens from September 23 to 30. Unlike Solana, this unlock represents a substantial portion (8%) of Worldcoin’s total circulating supply. Notably, 22.37 WLD, which equates to 4.83% of the circulating supply, will be distributed among the community.

Ultimately, the general feeling within the community will determine if they choose to sell their tokens. Introducing the world ID by Worldcoin in Poland might strengthen investor trust in the WLD token.

2% Of Immutable’s Circulating Supply Set To Be Unlocked

32.47 million units of the IMX token, valued at approximately $53.58 million, are set to become accessible on October 4th. This release corresponds to 2% of the current circulating supply, which might influence the coin’s price in the aftermath of the unlocking event.

Immutable’s dominance persists in driving web3 games, offering a promising perspective for its alternative coin, IMX. Notably, the value of IMX has spiked by more than 46% within the past week. Nonetheless, prospective investors should exercise caution, as a potential price adjustment could occur post-token unlock.

ZETA Risks Overwhelming Sell Pressure

Among the five cryptocurrencies under consideration, ZETA is expected to face the highest selling pressure, as approximately 53.89 million tokens (representing about 13% of its total circulating supply) will become available for sale on October 1. Moreover, an additional 1.01 million coins will be gradually released from September 23 to September 30.

Similar to IMX, the cryptocurrency known as ZETA has seen significant increases in the last week, climbing more than 30%. The optimistic expectations for ZETA stem from Zetachain’s advancements in facilitating blockchain compatibility.

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2024-09-23 17:03