A price collapse could occur for five coins: Solana (SOL), Sui (SUI), Worldcoin (WLD), Immutable (IMX), and ZetaChain (ZETA) before significant token unlocks. This kind of incident usually indicates a gloomy outlook for coins because it may cause investors to liquidate their holdings in large quantities on the open market.
Price Crash Risk for SUI, SOL, WLD, IMX, and ZETA
These altcoins could see a sharp drop in value since their ecosystem is about to be inundated with unlocks worth millions of dollars. The total value of the unlocks that these altcoins are expected to face, according to data from Token Unlocks, is approximately $329 million. These significant unlocks, which are scheduled for September 30 to October 6, will shock the supply of these coins and may result in a price collapse.
October 1st is Sui’s Token Unlock Scheduled
The next token unlock for the altcoin is scheduled for October 1 and will unlock 64.19 million SUI, or $95.65 million. Because these coins make up 2.40% of the total amount of SUI in circulation, there may be market volatility for the altcoin.
SUI does, however, clearly have bullish fundamentals, which may assist lessen the impact of any price collapse the altcoin may otherwise see. Sui Network’s total value locked (TVL) surpassed $900 million, suggesting that market players are currently very interested in the altcoin.
Solana Is About $75 Million Away From Flooding
Sept. 23–30 is when 524,030 SOL (or $74.97 million) will be unlocked. This is a linear unlock, thus the price of the cryptocurrency won’t likely be affected as much. Moreover, just 0.11% of Solana’s total supply is represented by these tokens.
In the meanwhile, it is important to note that SOL has an optimistic view based on the network’s fundamentals. One example of this is the Frankendancer update, which was made available on the Mainnet last week. Moreover, organizations such as Citi and Franklin Templeton are utilizing the network for their novel offerings.
The $62.91 million Liner Token Unlock for Worldcoin
Similar to SOL, WLD will have a linear token unlock between September 23 and September 30 totaling 37.23 million. Nevertheless, these tokens account for a sizeable portion (8%) of Worldcoin’s circulating supply, in contrast to Solana. The community will receive 22.37 WLD (4.83% of the circulating supply).
Whether or not they dump their tokens will ultimately depend on how the community feels. The launch of Worldcoin’s world ID in Poland may have increased investor confidence in the WLD token.
Two percent of Immutable’s total supply is scheduled to be unlocked.
On October 4, 32.47 million IMX tokens valued at $53.58 million will become available. This amounts to 2% of the altcoin’s current supply and may have an effect on the price of the cryptocurrency after the unlock event.
Immutable is still at the forefront of web3 game power, which bodes well for the altcoin. Remarkably, the price of IMX has increased by more than 46% throughout the past week. Potential investors should exercise caution, though, since the altcoin’s value may drop after the token unlock.
ZETA Dangers Severe Sell Pressure
Of these five altcoins, ZETA is most vulnerable to sell pressure since 53.89 million of its circulating supply—or 13%—are scheduled to be unlocked on October 1. In addition, between September 23 and September 30, 1.01 million coins will be unlocked in a linear fashion.
Similar to IMX, the altcoin has seen tremendous increases over the past seven days, rising by more than 30%. Because of Zetachain’s advancements in fostering blockchain interoperability, ZETA has a positive outlook.
