Major Altcoin Unlocks Scheduled For Early December

Certain big names in the altcoin market are gearing up for an influx of tokens as a wave of token unlocks is approaching.

Several major altcoins are preparing to experience a surge in circulating supply during the first week of December, as indicated by data from Tokenomist. This wave of token unlocks is valued at approximately $578 million and forms part of a broader total of $3.5 billion in unlocks set to occur during the month of December.

Solana-based JTO will lead the way with a substantial $496.71 million in tokens to be unlocked, representing a significant 103.32% increase in its circulating supply. Among more established tokens, Cardano’s ADA will see a more modest release of $19.44 million, reflecting just 0.05% of its total supply. While this may seem noteworthy, it is likely to be easily absorbed given the current buying momentum surrounding ADA.

NEON follows with $21.15 million in unlocks, marking a 44.92% addition to its supply. Other notable unlocks include TAIKO with $17.47 million (11.38%), ENA with $9.17 million (0.45%), and HFT with $3.11 million (2.87%).

These token unlocks can have a direct impact on the crypto prices. When previously locked tokens are released, they become available for trading on the open market, often leading to a sudden increase in supply. This influx can create downward pressure on prices, particularly if a significant portion of holders opt to sell immediately.

Data from Tokenomist.ai also reveals additional noteworthy token unlocks scheduled for December. Among these, Hyperlink (HYPE) stands out with a staggering $1.48 billion worth of tokens set for release. Given its current market capitalization of $2.297 billion, the injection of such a substantial supply into the market could have a pronounced impact on its price, especially if a large number of holders decide to sell their unlocked tokens.

Other notable unlocks include Sui (SUI) with $218.26 million worth of tokens, equivalent to 2.3% of its total supply, and Optimism (OP) with $73.34 million worth of tokens to be unlocked.