- Approximately 13 billion USD of Token supply will be released to the market before the end of Q2
- However, the Pumpfun PUMP launch event could create a significant impact on market liquidation
Q2 Token Unlock: Supply Pressure on the Cryptocurrency Market
The amount of Token unlocks in the cryptocurrency market in Q2 is expected to reach approximately 13 billion USD, with June alone contributing around 3 billion USD. Previously, Q1 recorded 16 billion USD of Tokens being unlocked, contributing to selling pressure at the beginning of the year.
Source: Crypto Rank
Detailed Analysis of June Token Unlocks
Data from Crypto Rank shows that most unlocks are concentrated in the first half of 2025. In the first week of June alone, 609 million USD in Tokens from projects such as Worldcoin (WLD), Solana (SOL), Official Trump (TRUMP), and other projects were released to the market according to the distribution schedule. Solana alone added 80 million USD in supply during this week.
Source: Tokenomist
By classification, AI and AI platform Tokens account for about 20% (590 million USD) of the total 3 billion USD unlock in June. Meme coins like TRUMP contribute 257 million USD (9%), while "made in U.S" Tokens like SOL account for 40% (1.2 billion USD).
Tokenomist in its recent weekly update noted that market reactions to unlocks are quite diverse. For example, Zebec Network increased by 350% last month, despite an 8% increase in ZBCN supply. However, PYTH faced significant selling pressure and dropped 22% when 58% of its supply was unlocked.
Additionally, new projects are conducting TGE (Token Generation Event) in June. Notably, Lagrange Labs — a blockchain infrastructure provider — unlocked 193 million LA worth 274 million USD on 04/6.
Source: ENA/USDT, TradingView
Token Price Fluctuations After Unlock
Some Tokens with large unlocks are experiencing significant price pressure. Ethena (ENA) has lost 14% of its value, and if continued sell-offs occur due to increased supply, ENA could fall below the 0.30 USD mark.
Highlight Event: Pumpfun and Meme Coin Liquidation Trend
For the meme coin group, experts assess that the highly anticipated Pumpfun launch in June could raise the risk of market liquidation. If the scenario repeats like when TRUMP and MELANIA launched in January, the cryptocurrency market as a whole could face a strong correction.
