$1B in Token Unlocks Hits Crypto Market This Week, Led by $334M TRUMP Release

This week, the cryptocurrency market is set to experience a series of significant token unlock events. According to data from Tokenomist monitored by @WuBlockchain, from April 14 to April 21, the total value of tokens being unlocked across various crypto projects will exceed $1 billion. Among these, the unlocks for TRUMP, FTN, CONX, and SOL are particularly noteworthy, with values reaching $334 million, $88.80 million, $77.07 million and $60.95 million respectively.

Data from Tokenomist indicates that the largest unlock this week will be for TRUMP, with 40 million tokens valued at $334 million set to be unlocked at 00:00 UTC on April 18. This represents 20% of the unlock supply. TRUMP, a meme token associated with political themes, has garnered attention since 2024 due to the Trump family's support for the crypto industry. This substantial unlock is expected to significantly increase the circulating supply of TRUMP.

Following TRUMP, FTN and CONX will also see major unlocks. FTN is scheduled to unlock 20 million tokens valued at $80 million at 00:00 UTC on April 18, accounting for 2.33% of its unlock supply. Fasterx (FTN), backed by IT giant SoftConstruct, is a Web3-driven solutions ecosystem offering a range of products including Fastex Verse, ftNFT marketplace, Fastex Chain, Fastex Pay crypto payment system, Fasttoken, and the Fastex Exchange crypto and fiat exchange platform. Meanwhile, CONX will unlock 4.33 million tokens valued at $77 million at 00:00 UTC on April 15, making up 7.45% of its unlock supply. Connex is an on-chain certificate platform incentiving talents via CONX to upload their CV and helping people to create their own web3 professional community.

SOL will undergo a linear unlock this week, releasing 465,770 tokens, which constitute only 0.09% of its circulating supply. Despite the small percentage, Solana, as one of the leading Layer-1 blockchains, boasts a market capitalization of $68 trillion. Therefore, this linear unlock will still introduce $60.95 million worth of SOL into the market.

In addition to these, several projects will undergo cliff unlocks this week, including QAI (565,690 tokens, $77.07 million), ZKJ (15.53 million tokens, $35.25 million), ARB (92.65 million tokens, $28.22 million), DRB (1.14 billion tokens, $25.99 million), UXLINK (37.5 million tokens, $18.48 million), STRK (127 million tokens, $16.11 million), OMNI (8.21 million tokens, $15.18 million), MELANIA (26.25 million tokens, $12.25 million), IMX (24.52 million tokens, $10.15 million), SEI (55.56 million tokens, $9.63 million), APE (15.6 million tokens, $6.67 million), XCN (296.3 million tokens, $5.61 million).

Some tokens will also undergo linear unlocks this week, such as WLD (37.23 million tokens, $27.91 million), TIA (6.96 million tokens, $17.12 million), DOGE (96.52 million tokens, $15.92 million), TAO (50,400 tokens, $12.17 million), AVAX (700,000 tokens, $13.92 million), SUI (3.72 million tokens, $8.37 million), DOT (2.3 million tokens, $8.52 million), JTO (4.2 million tokens, $7.19 million).

The unlock of TRUMP and other tokens has already sparked market speculation regarding potential price movements. Sidney Powell, co-founder and CEO of DeFi lending platform Maple Finance, told Decrypt that this is the first unlock for TRUMP tokens. With a 20% increase in TRUMP's circulating supply, there is an expectation of selling pressure. "If you saw a bigger cliff, you’d be a little bit more worried about it," Powell noted. However, Powell also highlighted that TRUMP has a unique owner base, with many wallets purchasing TRUMP as their first altcoin on Solana. Therefore, "They'll be less experienced, so those holders might not drive sell pressure."

A reminder to all: this article is intended for market analysis purposes only and does not constitute any investment advice. Please exercise caution and conduct thorough research before making any decisions.