- Over $642M in crypto tokens unlock Mar 31-Apr 7, signaling potential volatility
- SUI ($149M), ENA ($79M), and W ($70M / 46% supply) represent largest unlocks
- Concerns raised over potential VC dumping and specific Trump token unlocks
The start of Q2 brings over $642 million worth of crypto tokens set to hit the market between March 31 and April 7.
This significant wave of scheduled unlocks could affect supply dynamics for several assets. Tokens including SUI, Wormhole (W), Ethena (ENA), and Solana (SOL) feature among the most anticipated releases this week. Market participants watch closely to gauge the potential impact on liquidity and prices.
SUI, ENA, W Lead This Week’s Major Token Unlocks
According to Tokenomist data, SUI will see 64.19 million tokens unlock, worth about $148.93 million (representing 2.14% of its circulating supply). Similarly, ENA unlocks 212.50 million tokens valued near $78.81 million (3.25% of supply).
Wormhole’s W token release is also substantial, totaling $70.40 million; notably, this represents a very large 46.27% of W’s current circulating supply, which could potentially lead to significant price volatility depending on how recipients manage the unlocked tokens.
Related: Token Unlock Calendar: Major Crypto Projects Face Supply Test This Week
Other Notable Unlocks Add to Supply
Linear unlocks for other major tokens also add to the week’s supply increase. Solana (SOL) sees about 466,000 additional tokens (worth ~$58.8M) become available. Worldcoin (WLD) adds 37.23 million tokens (~$29.2M) to circulation.
The meme coin Dogecoin (DOGE) also has a scheduled unlock of 96.52 million tokens, introducing roughly $15.84 million in new supply.
Dumping Fears Surface Ahead of Large Unlocks
Market analysts generally suggest large token unlock events can trigger short-term price corrections or increased volatility.
Tokens releasing a high percentage of their circulating supply, like W this week, often face particular scrutiny from traders assessing potential selling pressure.
Related: Massive $3.9B Crypto Token Unlock in March: Top Tokens to Watch
On social media platforms, some traders express skepticism about heavily VC-backed projects around unlock times, specifically citing concerns over potential token “dumping” by early investors or team members looking to cash out. These concerns extended specifically to upcoming unlocks for a Trump-themed token reportedly scheduled for April and July.
One widely shared comment on X questioned the token’s structure: “…28.8 million trump tokens gonna be served up on a platter as a dump pie. For the life of me, why would anyone buy a memecoin where the Trump Organization (via 6 CIC groups) owns 80% of the total supply?“
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