3 Token Unlocks to Watch in This Week

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The crypto market will welcome tokens worth more than $636.4 million this week. Major projects, including Sui (SUI), EigenCloud (EIGEN), and Kamino (KMNO), will release significant new token supplies.

These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.

1. Sui (SUI)

Unlock Date: August 1
Number of Tokens to be Unlocked: 13.72 million SUI
Released Supply: 4.06 billion SUI
Total supply: 10 billion SUI

Sui is a high-performance blockchain designed to provide scalability, low latency, and an architecture for decentralized applications (dApps). It also distinguishes itself with an object-centric data model and the Move programming language, which seeks to address inefficiencies in existing blockchain architectures.

On August 1, the network will release 13.72 million SUI into the market, continuing its trend of cliff unlocks at the beginning of the month. The tokens are worth $9.91 million and represent 0.34% of the current released supply.

The network will split the unlocked altcoins 3 ways. Early Contributors will gain 7.65 million tokens. In addition, Community Reserve will receive 4 million tokens. Lastly, Mysten Labs Treasury will get 2.07 million SUI.

2. EigenCloud (EIGEN)

Unlock Date: August 1
Number of Tokens to be Unlocked: 36.82 million EIGEN
Released Supply: 635.67 million EIGEN
Total Supply: 1.67 billion EIGEN (Y2035)

EigenCloud (formerly EigenLayer) is a verifiable cloud platform built on the EigenLayer protocol. It provides developers with a unified infrastructure for creating trustless, verifiable Web3 applications and services.

On August 1, the network will unlock 36.82 million EIGEN tokens, valued at approximately $7.63 million. The unlocked tokens represent 5.79% of the released supply.

EigenCloud will direct 19.75 million tokens towards investors. Moreover, early contributors will get 17.07 million EIGEN.

3. Kamino (KMNO)

Unlock Date: July 30
Number of Tokens to be Unlocked: 229.17 million KMNO
Released Supply: 7.71 billion KMNO
Total supply: 10 billion KMNO

Kamino Finance is a decentralized finance (DeFi) protocol on the Solana (SOL) blockchain that specializes in borrowing, lending, and liquidity provision.

On July 30, Kamino will unlock 229.17 million KMNO tokens. The tokens are valued at approximately $4.14 million and represent 2.97% of the released supply.

The team will distribute most of the unlocked tokens, 145.83 million KMNO, to key stakeholders and advisors. Additionally, Kamino will award 83.33 to core contributors.

In addition to these, other prominent unlocks that investors can look out for this week include Falcon Finance (FF), Plasma (XPL), Sign (SIGN), and more.

The post 3 Token Unlocks to Watch in This Week appeared first on BeInCrypto.

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