Token unlocks will impact the cryptocurrency market, affecting overall sentiment and liquidity. This week, three projects - Starknet (STRK), TRUMP, and Polyhedra Network (ZKJ) - are scheduled for major token unlocks.
TRUMP and Polyhedra are set to unlock tokens representing over 20% of their market capitalization. Here are the key details:
TRUMP(TRUMP)
Unlock Date: April 18
Number of Tokens to be Unlocked: 40 million TRUMP (4.00% of maximum supply)
Current Circulating Supply: 199 million TRUMP
The official TRUMP meme coin of former US President Donald Trump is set to unlock new tokens representing 20% of its market capitalization. On April 18, 40 million TRUMP tokens will be released, with a total market value of $338.57 million.
Of these, 36 million tokens (10%) are allocated to Creator & CIC Digital 1, and 4 million tokens (10%) are allocated to Creator & CIC Digital 4.
Overall, such a large token unlock is likely to impact volatility. TRUMP has already declined by over 30% this month.
Starknet (STRK)
Unlock Date: April 15
Number of Tokens to be Unlocked: 127.6 million STRK (1.28% of maximum supply)
Current Circulating Supply: 2.9 billion STRK
Starknet is an Ethereum Layer 2 scaling solution that uses STARK-based zero-knowledge rollups to improve throughput and reduce gas costs. STRK is the network's primary utility and governance token.
On April 15, 127.6 million STRK tokens will be unlocked, valued at $16.71 million, representing approximately 4.40% of the current market capitalization. Of these, 66.92 million tokens (3.34%) are allocated to initial contributors, and 60.68 million tokens (3.34%) to investors.
Additionally, STRK has declined by over 26% last month and is currently down almost 100% from its all-time high in February 2024.
Polyhedra Network (ZKJ)
Unlock Date: April 19
Number of Tokens to be Unlocked: 15.5 million ZKJ (1.55% of maximum supply)
Current Circulating Supply: 60 million ZKJ
Polyhedra Network provides blockchain interoperability through zkBridge technology, enabling cross-chain messaging, asset transfer, and storage via zero-knowledge proofs.
The April 19 unlock includes 15.5 million ZKJ tokens, valued at $35.16 million, representing 25.7% of ZKJ's market capitalization.
This release consists of 8.47 million tokens (2.65%) for ecosystem and network incentives, and 2.61 million tokens (1.74%) for community, airdrop, and marketing.
Meanwhile, 3.61 million tokens are allocated to foundation reserves, and 0.8 million tokens to pre-TGE token purchasers.
Additionally, ZKJ has increased by 10% last month.
Overall, this week's unlocks will introduce over $400 million in new tokens to the market. While some projects are experiencing downward pressure, others like ZKJ show positive momentum.
As always, traders should closely monitor token distributions to assess potential changes in market sentiment and liquidity.
