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$464M Token Release Looms as Crypto Market Faces Downtrend
Over $464 million in token supply is set to hit the crypto market in the next seven days, according to Tokenomist data. The market is currently experiencing a downtrend, having lost around $40 billion recently.
Key Token Unlocks This Week
- SUI will release about $64 million worth of tokens.
- Other significant one-time releases include SIGN, EIGEN, KMNO, JUP, OP, TREE, SAHARA, and ZORA.
- Daily releases exceeding $1 million involve RAIN, [Solana](https://holder.io/coins/sol/), RIVER, TRUMP, CC, [WLD](https://holder.io/coins/wld/), [DOGE](https://holder.io/coins/doge/), and AVAX.
Market Conditions
- The AltSeason Index is at 29, indicating weak interest in altcoins.
- [Bitcoin](https://holder.io/coins/btc/) dominance is forming a bear flag, suggesting potential for capital shift back into altcoins if it drops.
Undervalued Altcoins
- Chainlink shows a -9.5% drawdown, Cardano at -7.9%, with [Ethereum](https://holder.io/coins/eth/), [XRP](https://holder.io/coins/xrp/), and Bitcoin also undervalued.
- A negative MVRV indicates holders are at a loss, reducing selling pressure and entry risk.