Altcoin

Will SUI, SOL, WLD, IMX, ZETA Prices Crash With Token Unlocks?

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2 hours ago

September 23, 2024

Will Sui Sol Wld Imx Zeta Prices Crash As Major Unlocks Are Upcoming .webp.webp

Solana (SOL), Sui (SUI), Worldcoin (WLD), Immutable (IMX), and ZetaChain (ZETA) are five coins that risk suffering a price crash ahead of major token unlocks. This event typically provides a bearish outlook for coins since it could lead to massive selling pressure, with investors offloading their holdings on the market.

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

These altcoins are at risk of a significant price decline, with millions of dollars in unlocks set to flood their ecosystem. Data from Token Unlocks shows that the unlocks that these altcoins are set to face are worth over $329 million combined. These major unlocks are set to take place between September 30 and October 6 and will cause a supply shock for these coins, potentially leading to a price crash.

Sui’s Token Unlock Scheduled For October 1

The altcoin’s next token unlock is set to take place on October 1, when 64.19 million SUI ($95.65 million) will be unlocked. These coins represent 2.40% of SUI’s circulating supply, which could lead to potential market volatility for the altcoin.

However, SUI undoubtedly boasts bullish fundamentals, and this could help mitigate any price crash that the altcoin would otherwise suffer. The total value locked (TVL) on Sui Network crossed $900 million, indicating that the altcoin is currently enjoying significant interest from market participants.

Almost $75 Million Set To Flood Solana

524,030 SOL ($74.97 million) will be unlocked between September 23 and 30. Considering that this is a linear unlock, it is unlikely to have as much impact on the crypto’s price. Moreover, these tokens only present 0.11% of Solana’s circulating supply.

Meanwhile, it is worth mentioning that the network’s fundamentals provide a bullish outlook for SOL. This includes the Frankendancer upgrade, which went live on the Mainnet last week. Furthermore, institutions like Franklin Templeton and Citi are also adopting the network for their new services.

Worldcoin’s $62.91 Million Liner Token Unlock

Like SOL, WLD will also face a linear unlock of 37.23 million tokens between September 23 and 30. However, unlike Solana, these tokens represent a significant percentage (8%) of Worldcoin’s circulating supply. 22.37 WLD (4.83% of the circulating supply) will go to the community.

The sentiment among community members will ultimately decide whether they offload their tokens. Worldcoin debuted its world ID in Poland, a move that could boost investors’ confidence in the WLD token.

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

32.47 million IMX tokens ($53.58 million) will be unlocked on October 4. This represents 2% of the altcoin’s circulating supply and could impact the crypto’s price following the unlock event.

Immutable continues to lead the way in powering web3 games, which provides a bullish outlook for the altcoin. Interestingly, IMX’s price has surged over 46% in the last seven days. However, potential investors might need to be careful as the altcoin could suffer a price correction following the token unlock.

ZETA Risks Overwhelming Sell Pressure

ZETA risks the most sell pressure among these five altcoins, with 53.89 million (13% of its circulating supply) set to be unlocked on October 1. Additionally, 1.01 million coins will be unlocked linearly between September 23 and 30.

Like IMX, the altcoin has posted massive gains in the last seven days, surging by over 30% during this period. ZETA’s bullish outlook stems from Zetachain’s progress in promoting blockchain interoperability.