Krutika Adani
Several top cryptocurrencies like Wormhole, dYdX, Avalanche, and Sui will see token unlocks worth $1.5 billion in combined value.
The largest of all the token unlocks will be that of XRP, which alone sees a $606 million worth of unlock.
As a major part of the unlocked tones could be relocked, the impact on XRP’s price is expected to be negligible.
However, the Wormhole token might cause serious trouble for its holders. Wormhole sees a 600 million $W token unlock, which is 33% of its circulating supply.
Though there seems to be little volatility in the near term, the token unlocks are not expected to affect the market’s long-term behaviour.