$575-M Unlocks Threaten Altcoin Rally: Why You Should Monitor Cardano’s ADA, Solana’s JTO
Certain big names in the altcoin market are gearing up for an influx of tokens as a wave of token unlocks is approaching. According to data provided by Tokenomist, a notable number of major altcoin projects are set to experience a surge in circulating supply during the first week of December. Related Reading: Hold XRP […]
Certain big names in the altcoin market are gearing up for an influx of tokens as a wave of token unlocks is approaching. According to data provided by Tokenomist, a notable number of major altcoin projects are set to experience a surge in circulating supply during the first week of December.
This upcoming wave involves an estimated $578 million worth of tokens being released into the market. Interestingly, a detailed look into various unlocking schedules shows that this is part of a total of $3.5 billion worth of token unlocks in December.
Major Altcoin Unlocks Scheduled For Early December
The first week of December is set to witness a significant wave of token unlocks across the altcoin market, totaling an impressive $574.8 million. These weekly cliff unlocks, scheduled between December 2nd and December 8th, will introduce substantial new liquidity into the market, which might threaten the brewing altcoin rally.
Among the highlights, Solana-based JTO leads the pack with a staggering $496.71 million worth of tokens to be unlocked, representing a remarkable 103.32% increase in its circulating supply. Cardano’s ADA, a more established token, will see a modest release of $19.44 million, reflecting just 0.05% of its total supply. Although this is one too look at, it is very likely to be easily absorbed by the current buying momentum surrounding ADA.
NEON follows with $21.15 million in unlocks, marking a 44.92% addition to its supply. Other noteworthy unlocks include TAIKO with $17.47 million (11.38%), ENA with $9.17 million (0.45%), and HFT with $3.11 million (2.87%).
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