Top 5 Token Unlocks This Week Total Over $100M—Will Prices Pump or Dump?

Over $100M in token unlocks are scheduled this week, raising volatility concerns across several high-profile altcoins.

Ethena’s $25M release is the largest, drawing close scrutiny amid uncertain market sentiment and potential sell pressure.

Combined unlocks from OP, GRASS, KMNO, and PRIME exceed $40M, potentially impacting price stability depending on recipient behavior.

The crypto ecosystem is going to witness over $100 million in token unlocks this week, and even a tipping point event for short-term pricing. The biggest releases are led by Ethena (ENA), which will put $25 million worth of tokens into circulation. Other prominent ones on the pile are Optimism (OP), Grass (GRASS), Kamino (KMNO), and Echelon Prime (PRIME), whose combined unlock value is over $40 million. These events will develop over the week to June 30 and can induce strong market reactions depending on investors' orientation as well as liquidity levels.

Token unlocks are the scheduled release of already locked-up tokens into the open market. Token unlocks are typically within a vesting schedule of a project, where early backers, project contributors, or team members get their stakes in phases. Even as such an event is part of the crypto project life cycle, major unlocks are likely to create short-term volatility. Prices may react radically on the perception of selling pressure or new market confidence based on the current momentum and use-case progress of each project.

Ethena (ENA) Leads with $25M Unlock

Ethena is the standout this week, accounting for the largest single unlock amount. Scheduled for June 30, the $25 million token release represents a significant share of ENA’s circulating supply. Market analysts are closely monitoring this unlock, given the protocol’s expanding ecosystem and recent on-chain activity. Depending on how recipients manage their allocations, ENA could either face a temporary price dip or remain stable if buyers absorb the new supply efficiently.

Optimism (OP) and Others Bring Over $40M in Combined Unlocks

In addition to ENA, layer-2 solution Optimism is preparing for another substantial unlock. While exact figures vary, estimates suggest OP’s portion contributes significantly to the collective $40M+ in releases. Smaller but still notable unlocks are also coming from Kamino, Echelon Prime, and Grass

Each project brings a unique dynamic to the table, from Kamino’s DeFi incentives to Echelon Prime’s gaming infrastructure. Their respective unlocks may influence token liquidity and short-term investor decisions, particularly if these tokens see high sell volumes.

Caution Ahead or Opportunity in Disguise?

Historically, large-scale unlocks tend to apply short-term pressure on token prices as investors adjust to changing supply metrics. However, some projects use unlock periods as opportunities to drive engagement through ecosystem incentives or development updates. This dual nature leaves room for varying outcomes—some tokens may see reduced volatility if investor confidence holds, while others may struggle with sharp dips. The week’s total unlock value signals heightened attention, especially as broader market sentiment remains mixed.