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Crypto projects unlock new tokens in the ecosystem.
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AltLayer released tokens worth nearly $3.5 million in one go.
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Several projects plan to release new tokens next week.
This month, crypto projects have been putting new supply into circulation. Tokenomist is an X account which tracks tokenomics. According to Tokenomist the market saw a steady stream of unlocks between September 15 and 21. Teams, founders and early backers have pushed millions of dollars worth of new tokens in the book.
ALT leads the latest token unlock charge
Tokenomist reported substantial amounts of ALT (Alt), BLAST (Blast), AVAIL (Venum), and PARTI (Parti) have flooded the crypto market over the last five days. The crypto projects did not release more than 3% of their total circulating supply. However, the relatively small amount of tokens released was worth millions of dollars.
For example, ALT added 2.38% to its circulating supply, which was $3.49 Million.
AltLayer (ALT), Price Prediction 2024-2030 – Will the ALT Price Reach $1 Soon?
The Blast Layer-2 solution also saw a 1.9% share of its native token BLAST, which is equivalent to $2.31m, being introduced into the decentralized ecosystem of the crypto market. This is similar to other digital assets that have minimal ratios but are worth substantial amounts.
Token Unlocking to Continue Next Week
The calendar doesn’t end there. Tokenomist has announced another round of unlocks for Sept. 22-28. AltLayer has another $3.49million scheduled for September 25. This would bring its cumulative unlocked supply ratio to 42.32 %.
New projects are also being added to the flow. KARRAT will release 1.79 % of supply on September 23. XMW will release 1.32% of supply on the same date. Yield Guild Games (YGG), with $1,02 million in tokens and 0.91% supply, is next.
Why it matters for traders
The constant unlock pipeline forces traders think about both sides. Someone has to be on the other side when supply comes in waves.
The ratios may seem small, but when stacked up week after week they create a supply surplus. AltLayer’s back to back schedule is the clearest sign that the unlock pressure has not eased, but is compounding.
Related Token Unlocks this Week: Over $22 Million from BLAST, Alt, VENOM to hit the market
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