Crypto Market Prepares for $636 Million Token Unlock Deluge

Over $636 million in new token supplies will hit the market this week. Three significant projects, Sui (SUI), EigenCloud (EIGEN), and Kamino (KMNO), are among those unlocking tokens on August 1 or July 30.

Sui, a high-performance blockchain designed for scalability and low latency, will release 13.72 million SUI into the market on August 1. This represents 0.34% of the current released supply and is valued at approximately $9.91 million. The network will split these tokens among early contributors (7.65 million), community reserve (4 million), and Mysten Labs Treasury (2.07 million).

EigenCloud, a verifiable cloud platform built on the EigenLayer protocol, will unlock 36.82 million EIGEN tokens worth around $7.63 million on August 1. These tokens represent 5.79% of the released supply and will be directed towards investors (19.75 million) and early contributors (17.07 million).

Kamino Finance, a decentralized finance protocol on Solana, will unlock 229.17 million KMNO tokens valued at approximately $4.14 million on July 30. The team will distribute most of these tokens to key stakeholders and advisors (145.83 million) and core contributors (83.33 million).