This week, almost $650 million worth of tokens will be added to the market supply in the crypto space. Tokens of dYdX (DYDX), Optimism (OP), Sui (SUI), Axelar (AXL), Immutable X (IMX), 1inch (1INCH), and Hedera (HBAR) will experience a large influx of new supply due to token unlocks, resulting in prices falling sharply across the board. Each unlock is a release of coins from vesting periods, with investors as early as possible allowed to sell tokens. This often causes the supply to outpace demand which causes a decline in price, as seen in the past 24 hours. Bitcoin (BTC) was largely unaffected, with it just dropping 0.7% compared to the broader market crypto index, CoinDesk Market Index (CMI), dropping 1.5%. This may indicate an overall trend of investors resorting to the more traditional cryptocurrency when tokens are unlocked, either trusting it more or just wanting a less volatile asset.



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