More than $790 million in tokens will enter the crypto market this week. In particular, three major ecosystems, Optimism (OP), Fast Token (FTN), and Layerzero (ZRO), release previously locked supply.
These unlocks can lead to market volatility and affect price movements in the short term. Here is a breakdown of what should be noted in each project.
1. Optimism (OP)
Sponsored Unlock Date: September 21 Number of Tokens Unlocked: 116 million OP (2.7% of Total Supply) Current Circular Supply: 17.7 billion OP Total Supply: 42.9 billion OP
Optimism is Ethereum (ETH)’s layer 2 scaling solution. Take advantage of optimistic rollups to increase transaction speeds and reduce costs while maintaining Ethereum security.
On September 21st, the team will release a massive supply of 116 million altcoins to the market. The token is worth $92.3 million. This represents 6.89% of the supply released.
Furthermore, optimism directs all tokens towards unallocated ecosystem funds.
sponsor
2. FastToken (FTN)
Unlocked date: September 18th Number of tokens unlocked: 20 million ftn (2% of total supply) Current circular supply: 432 million ftn Total supply: 1 billion ftn
FastToken serves as the native cryptocurrency for the FastEx ecosystem. It runs on Bahamut, a Layer 1 public blockchain built on top of Ethereum Virtual Machine (EVM). Bahamut also uses a unique consensus mechanism known as Proof of Interest and Activity (POSA).
The network unlocks 20 million tokens on September 18th, following the monthly cliff unlock pattern.
sponsor
The supply is worth $89.6 million, accounting for 4.63% of AltCoin’s current market capitalization. Additionally, founders receive the entire unlocked supply.
3. Layerzero (ZRO)
Unlocked date: September 20th Number of tokens unlocked: 205.71 million Zro Current Circulation Supply: 111.15 million ZRO Total Supply: 1 billion ZRO Sponsor
Layerzero is an interoperability protocol designed to connect different blockchains. Its main goal is to enable seamless cross-chain communications so that distributed applications (DAPP) can interact with multiple blockchains without relying on traditional bridging models.
The team released 25.71 million tokens on September 20th, valued at around $49.36 million. The stack accounts for 8.53% of the discharged supply.
Layerzero awards strategic partners 13.42 million Altcoins. Core contributors get 1.63 million Zro. Finally, there are 167 million Zros for tokens that the team has bought back.
In addition to these three, other major projects will release tokens during this period. Investors can focus on unlocking tokens from Velo (Velo), Arbitrum (ARB), SEI (SEI) and Space ID (ID).
