$575M in token unlocks expected: ZKC, Velo and Lista
According to CryptoRanks, token unlocks totaling about $574.99M will take place from Sept. 15 to 21.
On Sept. 15, ZKC will hold its first unlock — 54M tokens, equal to 5.4% of total supply. The ZKC (ZKCross) project develops cross-chain infrastructure based on zk technology. The team positions it as a protocol to scale blockchain interoperability with a focus on transaction security.
The first recipients of ZKC will be token sale participants and airdrop claimants. Typically, when assets concentrate in the hands of such investors, they face sell pressure and the price often drops. This happened with Wormhole’s W token, and the same may occur with ZKC.
On Sept. 17, $32.57M worth of Velo (VELO) tokens will hit the market, equal to 8.33% of supply and 11.4% of market capitalization. Velo Network is an Asia-based payments project using a credit issuance model and partnerships with regional fintech firms. The network serves as a bridge between banks and blockchains, facilitating cross-border transfers.
Over the past year, VELO’s price has repeatedly reacted to unlocks. Sometimes it fell, other times it rose. The last unlock was followed by a price increase, but predicting the Sept. 17 outcome is difficult. Still, given the strong correlation between price and unlocks, another rise cannot be ruled out.
On Sept. 20, Lista DAO (LISTA) will unlock $9.10M worth of tokens, or 4.2% of total supply. Lista DAO develops the decentralized stablecoin lisUSD, backed by crypto assets, and competes with projects such as MakerDAO and Frax.
Other unlocks this week:
The main focus will be on ZKC, Velo and Lista DAO, as they account for the bulk of the week’s unlocked tokens.
The first recipients of ZKC will be token sale participants and airdrop claimants. Typically, when assets concentrate in the hands of such investors, they face sell pressure and the price often drops. This happened with Wormhole’s W token, and the same may occur with ZKC.
On Sept. 17, $32.57M worth of Velo (VELO) tokens will hit the market, equal to 8.33% of supply and 11.4% of market capitalization. Velo Network is an Asia-based payments project using a credit issuance model and partnerships with regional fintech firms. The network serves as a bridge between banks and blockchains, facilitating cross-border transfers.
Over the past year, VELO’s price has repeatedly reacted to unlocks. Sometimes it fell, other times it rose. The last unlock was followed by a price increase, but predicting the Sept. 17 outcome is difficult. Still, given the strong correlation between price and unlocks, another rise cannot be ruled out.
VELO price and unlock chart. Source: tokenomist.ai
Other unlocks this week:
- Yooldo (Sept. 19): $5.54M (gaming ecosystem, GameFi).
- Pineapple (Sept. 19): $413K (on-chain project services).
- AriaAI (Sept. 21): $5.08M (AI infrastructure for Web3).
The main focus will be on ZKC, Velo and Lista DAO, as they account for the bulk of the week’s unlocked tokens.
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