Major Crypto Token Unlocks Hit $453M, Pressure on SOL, DOGE & More
This week’s token unlocks total $453 million across top projects, adding fresh supply to the market. ENS leads with $213 million cliff unlock (~3% of circulating supply), followed by IMX at $55 million. Daily linear distributions add nearly $100 million of SOL, $32 million of WLD, $19.8 million of DOGE, $16 million of AVAX, $13 million of TIA and $10 million of SUI. Combined September unlocks will reach $4.7 billion, keeping volatility high. Significant token unlocks often trigger short-term volatility as supply outpaces demand. Traders should watch SOL’s golden cross and support around $180, as well as DOGE’s $0.23 breakout level. These token unlocks could weigh on low-liquidity assets. Monitoring on-chain accumulation and technical indicators will be key to navigating potential price fluctuations.
Bearish
The sizable $453M token unlocks this week—part of $4.7B scheduled for September—introduce significant selling pressure. Historically, large cliff unlocks (like ENS’s 3% supply jump) often trigger sell-offs when demand fails to match new supply. Linear distributions tend to be less disruptive, but overlapping releases from SOL, DOGE and other tokens keep liquidity stretched. In the short term, excess supply may outpace buying interest, leading to downward price moves, especially in lower-liquidity assets. Long-term impact is neutral to mildly bearish; markets typically absorb scheduled unlocks over time, and strategic treasury buys (as seen in SOL) can mitigate pressure. Traders should monitor on-chain accumulation, technical levels (e.g., SOL’s golden cross, DOGE’s $0.23), and market sentiment to navigate potential volatility.