$400 Million Worth of Tokens Set to Unlock This Week
February has begun with significant turmoil in the crypto market, marked by a series of major token unlocks scheduled between February 3 and February 10. Over $400 million worth of tokens will enter circulation as various blockchain projects complete their vesting periods.
- XDC: 841.18 million tokens valued at $65.13 million
- MOVE: $27.79 million
- KAS: $13.7 million
- NEON: $13.03 million
- BANANA: $6.16 million
Linear unlocks include:
- Solana: 465,770 tokens valued at $88.14 million
- Worldcoin: $59.19 million
- Dogecoin: $22.09 million
- TIA, Avalanche, ENS: smaller but notable releases
In total, another $1.06 billion in token unlocks is expected next week, heightening concerns over market volatility amid a macroeconomic downturn driven by geopolitical uncertainties.
The increase in token supply typically exerts downward pressure on prices as holders seek liquidity. This was evident when Ether dropped 16% to $2,368 on February 3.
Global crypto market capitalization fell by 8.8% to $3.09 trillion, with the Crypto Fear & Greed Index declining to 44, its lowest since October 11. Bitcoin showed relative resilience, dropping 6.8% to $94,743, while its market dominance increased to 62%, indicating a shift from altcoins to Bitcoin among risk-averse traders.
February will be critical for the crypto market, as upcoming token releases may impact recovery or exacerbate ongoing declines.