Token Unlocks Have the Power to Move Markets. This Week, 3 Major Projects Are Stepping Into the Spotlight

Token unlocks have the power to move markets. They inject fresh liquidity, trigger price swings, and influence investors' feelings about a project.

The cryptocurrency market is constantly shifting, with various events and occurrences impacting the price trends and investor interest. Among these events, token unlocks play a crucial role, injecting fresh liquidity into the market and potentially triggering price swings.

During a token unlock, a project releases previously locked tokens, making them available for public trading. These unlocks are usually scheduled in advance and are eagerly anticipated by investors.

This week, three major projects are set to step into the spotlight as they prepare to release a wave of tokens into circulation.

Scroll (SCR)

Unlock Date: April 22

Number of Tokens to be Unlocked: 40 million SCR (4% of Total Supply)

Current Circulating Supply: 190 million

Total supply: 1 billion SCR

Scroll is a Layer 2 solution that boosts Ethereum’s scalability and efficiency. It uses zkRollup technology to lower transaction costs and increase throughput, helping ease issues like high gas fees and congestion.

On April 22, 40 million SCR tokens will be unlocked, valued at about $9.2 million at press time. This unlock could introduce added liquidity to the market and maybe renewed interest in Scroll.

The majority of the unlocked tokens will be distributed to early backers, contributors, and the ecosystem. A small portion will be allocated to the team for ongoing operations and development.

Plume Network (PLUME)

Unlock Date: April 21

Number of Tokens to be Unlocked: 108.34 million PLUME (1.08% of Total Supply)

Current Circulating Supply: 2 billion

Total supply: 10 billion Plume

Plume Network is a Layer 1 blockchain that brings real-world assets onto the chain. From fine art to green energy, it enables diverse asset-backed investments with fast, low-cost transactions. The network seamlessly integrates these assets into a composable RWAfi ecosystem, enhancing their utility and enabling broader financial interactions.

The April 21 unlock will consist of over 108 million PLUME tokens valued at about $17.82 million at press time. Early backers and contributors will receive the majority of these tokens, while the team will allocate 7% for a community airdrop.

The unlocks will also introduce a significant amount of liquidity into the market, which could affect the price of PLUME tokens.

AltLayer (ALT)

Unlock Date: April 25

Number of Tokens to be Unlocked: 240.80 million ALT (2.41% of Total Supply)

Current Circulating Supply: 3.03 billion

Total supply: 10 billion ALT

AltLayer is a project focusing on enhancing blockchain scalability through Restaked Rollups. It uses “Restaked Rollups,” integrating existing rollup stacks like OP Stack and Arbitrum Orbit with EigenLayer’s restaking mechanism for improved security and decentralization.

On April 25, AltLayer will unlock 240 million ALT tokens, releasing approximately $6.5 million worth into the market. This unlock could introduce added liquidity to the market and maybe renewed interest in Altlayer. The network will allocate the majority of these tokens to the Foundation, and for protocol development.

Similarly, other token unlocks for this week include Orbiter Finance (OBT) and Hatom (HTM) on April 20 and ZND on April 24.