Token Unlocks Worth $235M Could Shake Up Crypto Markets This Week

The post Token Unlocks Worth $235M Could Shake Up Crypto Markets This Week appeared first on Coinpedia Fintech News

This week, between April 21–28, tokens worth over $235 million are scheduled to be unlocked across several major crypto projects. Traders and investors are keeping a close eye on these events for any potential price swings in the market.

Key Projects to Watch: UDS, ALT, VENOM, XMW, and HOOK

The key projects in focus include Undeads Games (UDS), AltLayer (ALT), Venom (VENOM), Morphware (XMW), and Hooked Protocol (HOOK).

VENOM and ALT lead the cliff unlocks, with VENOM releasing 59.26 million tokens valued at $8.25 million, while ALT is unlocking 240.10 million tokens worth $7.09 million. Solana (SOL) leads the linear unlocks, with 465,770 tokens hitting the market, valued at $66.03 million.

Undeads Game (UDS) is unlocking nearly $11.5 million worth of tokens, which represents over 20% of its circulating supply—a significant chunk entering the market. The token is currently down 1.18%, showing bearish momentum and indicating potential selling pressure.

AltLayer (ALT): A Bullish Exception

Not all tokens are following a bearish trend. AltLayer (ALT) is actually showing bullish signs despite the large unlock. The token has surged by 5.71% to $0.02656, defying the usual unlock-related dip and indicating strong market interest.

Morphware (XMW) is unlocking about $676,000 worth of tokens, which is 1.58% of its supply. The token has jumped over 5% in a strong rally, signaling positive sentiment. Meanwhile, Hooked Protocol (HOOK) is set to unlock $465,000 worth of tokens and has posted the strongest daily gains so far, rising 7.59%.

Other tokens like Worldcoin and TRUMP will also unlock significant amounts. These events could affect token prices and market supply. These unlocks can impact the market price of a token because they increase the number of tokens available to be sold or traded.

A Look Back: Last Week’s Major Unlocks Surpassed $463 Million

In the last week major tokens were unlocked over $463 million. Arbitrum (ARB) unlocked $94.87M, Starknet (STRK) $91.52M, and Axie Infinity (AXS) $76.74M. Other unlocks included Immutable (IMX), Manta Network (MANTA), ApeCoin (APE), Render (RNDR), dYdX (DYDX), and Nym (NYM).