$403M in tokens set to unlock this week: Plasma, OG Labs and more
Between Sept. 22–28, projects including OG Labs, Plasma, Particle Network and others will unlock more than $403M worth of tokens.
On Sept. 22, OG Labs will unlock 213.2M OG, equal to 21.3% of the total supply. OG Labs develops Web3 infrastructure. Such a large amount entering circulation could put downward pressure on price, especially given the allocation to team members and early investors.
SPACE ID will also release 72.65M ID, or 3.63% of supply, on Sept. 22. The project builds decentralized identity systems. The token has shown volatility during past unlocks, and this event could again affect price dynamics.
On Sept. 24, 56.8M NIL ($19.1M) will be unlocked, representing 5.68% of supply. Nillion is a decentralized crypto project that uses a new mathematical innovation called Nil Message Compute to ensure private and secure transfer and storage of data.
On Sept. 25, 1.3B XPL from the Plasma project will unlock, equal to 13% of the total supply. This will be one of the week’s largest events. Plasma is an EVM-compatible Layer-1 for Bitcoin, backed by Founders Fund, Framework, Bitfinex, and Tether CTO Paolo Ardoino.
That same day, 92.6M PARTI ($16.6M) will be released, representing 9.26% of supply. The project has never had an unlock of this scale. With nearly 10% of supply entering circulation at once, a price drop is highly likely.
SPACE ID will also release 72.65M ID, or 3.63% of supply, on Sept. 22. The project builds decentralized identity systems. The token has shown volatility during past unlocks, and this event could again affect price dynamics.
On Sept. 24, 56.8M NIL ($19.1M) will be unlocked, representing 5.68% of supply. Nillion is a decentralized crypto project that uses a new mathematical innovation called Nil Message Compute to ensure private and secure transfer and storage of data.
On Sept. 25, 1.3B XPL from the Plasma project will unlock, equal to 13% of the total supply. This will be one of the week’s largest events. Plasma is an EVM-compatible Layer-1 for Bitcoin, backed by Founders Fund, Framework, Bitfinex, and Tether CTO Paolo Ardoino.
That same day, 92.6M PARTI ($16.6M) will be released, representing 9.26% of supply. The project has never had an unlock of this scale. With nearly 10% of supply entering circulation at once, a price drop is highly likely.
Chart of PARTI token unlocks and price. Source: tokenomist.ai
Other unlocks this week include several smaller projects with a combined volume of under $5M.
Token unlocks refer to the distribution of tokens that were previously locked as part of investment or financing agreements.
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