Over $790 million worth of Token will be released into the crypto market this week. Notably, three major ecosystems, Optimism (OP), Fast Token (FTN), and LayerZero (ZRO), will release previously locked supplies.
This unlocking could lead to market volatility and affect short-term price movements. Here is a detailed breakdown of what to look out for in each project.
Optimism (OP)
- Unlock date: 21/09
- Number of Token to be unlocked: 116 million OP (2.7% of total supply)
- Current Circulating Supply: 1.77 Billion OP
- Total Supply: 4.29 Billion OP
Optimism is a Layer-2 scaling solution for Ethereum (ETH) . It uses optimistic rollups to increase transaction speeds and reduce costs while maintaining Ethereum's security .
On September 21, the team will release a massive 116 million altcoins into the market . These Token are worth $92.3 million. It represents 6.89% of the issued supply.
OP Token Unlock in September. Source: TokenomistFurthermore, Optimism will direct all these Token into an unallocated ecosystem fund.
Fast Token (FTN)
- Unlock date: 09/18
- Number of Token to be unlocked: 20 million FTN (2% of total supply)
- Current Circulating Supply: 432 Million FTN
- Total Supply: 1 Billion FTN
FastToken is the native cryptocurrency of the Fastex ecosystem. It operates on Bahamut, a Layer 1 public blockchain built on the Ethereum Virtual Machine (EVM) . Bahamut also uses a unique consensus mechanism called Proof of Stake and Activity (PoSA).
The network will unlock 20 million Token on September 18, following its monthly unlock model.
Unlock FTN Token in September. Source: TokenomistThis supply is worth $89.6 million, which represents 4.63% of the altcoin's current market Capital . Furthermore, the founders will receive the entire unlocked supply.
LayerZero (ZRO)
- Unlock date: 20/09
- Number of Token to be unlocked: 25.71 million ZRO
- Current Circulating Supply: 111.15 Million ZRO
- Total supply: 1 billion ZRO
LayerZero is an interoperability protocol designed to connect different blockchains. Its main goal is to enable seamless chain chain communication so that Decentralized Applications can interact across multiple blockchains without relying on traditional bridge models.
The team will issue 25.71 million Token on September 20, worth approximately $49.36 million. This represents 8.53% of the issued supply.
Unlock ZRO Token in September. Source: TokenomistLayerZero will give away 13.42 million altcoins to strategic partners. Core contributors will receive 10.63 million ZRO. Finally, 1.67 million ZRO are for Token bought back by the team.
Besides these three projects, other major projects will also Token Issuance during this period. Investors can pay attention to Token Lockup from Velo (VELO), Arbitrum (ARB), Sei (Sei), and SPACE ID ( ID ).
