Metars Genesis (MRS) leads $407 million token unlock this week

Metars Genesis (MRS) is leading the token unlock event this week, with over $407 million worth of tokens scheduled for release across various projects.

According to data from Tokenomist, MRS will see 10M tokens unlocked. The value of the token unlock is around $15.8 million, which is 11.87% of its circulating supply.

Last week, Arbitrum (ARB) led the token unlock by releasing $51 million worth of tokens.

Cliff unlocks dominated by MRS and ADA

The token unlock spans both cliff and linear vesting schedules. As per the data, several projects are releasing a portion of their tokens.

In the cliff unlock category, following MRS, Cardano (ADA) will release 37.06M tokens worth $13.59 million. However, this represents only 0.10% of its circulating supply.

APEX and MURA are also set for considerable unlocks, with $13.37 million and $12.72 million worth of tokens being released, respectively.

Other notable cliff unlocks include AITECH with 80.17M tokens valued at $7.93 million (7.46% of circulating supply), ID with 18.49M tokens worth $7.81 million (4.29% of supply), and YGG with 14.08M tokens valued at $7.57 million (3.64% of supply).

The last three token unlocks as shared by Wu Blockchain include KARRAT, TRIBL and ENA. These three projects are releasing tokens worth in the range of $9.6 million to $12.86 million.

ENA, however, is only unlocking 0.47% of its circulating supply.

Linear unlocks led by Solana and Worldcoin

On the linear unlock front, Solana (SOL) leads with 524.03K tokens valued at $88.46 million. This accounts for just 0.11% of its circulating supply.

Worldcoin (WLD) follows closely with a $88.23 million unlock, representing 6.71% of its circulating supply.

Other large linear unlocks include TAO with $29.56 million and Avalanche (AVAX) with $20.01 million. Popular meme coin Dogecoin (DOGE) is also part of the event, with 94.47M tokens worth $13.66 million set for release.

This massive token unlock event could potentially impact market dynamics. This is because an increased token supply often leads to selling pressure.

Projects like SEI, NEAR, DOT, SUI, BEAM, and FIL are also participating in the linear unlock event, with values ranging from $8.80 million to $15.87 million.

All these projects are releasing different percentages of circulating supply (from 0.16% for SUI to 0.96% for BEAM).

The total value of tokens being unlocked exceeds $407 million. However, this is comparatively less than last week’s $498 million.