The cryptocurrency market is set to unlock $3.5 billion worth in December. Tokenomist data reveals that $574 million was unlocked among several crypto projects next week. Jito will be the main focus of the $490 million supply increase unlock.
Tokenomist data on Friday reveals that the crypto market will witness another week of heavy cliff unlocking worth more than $570 million as part of December’s large $3.5 billion supply injection I made it.
ADA, NEON, JTO will rise on the back of future supply increase
As the cryptocurrency market approaches the final months of 2024, several tokens are preparing to increase their circulating supply with notable cliff unlocks.
Ripple will unlock 1 billion XRP tokens on Sunday as part of an escrow unlock system using the XRP Ledger. This will add to the massive $3.5 billion increase in supply that the crypto market is expected to experience in December.
Tokenomist data highlights several other projects that are set to increase their current circulation with over $570 million of tokens unlocked next week. These projects include Cardano (ADA), Jito (JTO), Neon (NEON), Taiko (TAIKO), Ethena (ENA), and Hashflow (HFT).
Cliff Unlock is the periodic release of vested tokens to investors, team members, community members, or other key stakeholders. If demand does not match new supply, prices may fall during a cliff unlock.
Jito will inject over 100 million JTO tokens worth $496 million into the circulating supply, with the highest cliff unlocked amount. JTO is currently up nearly 5%, raising questions about whether investors will consider taking profits ahead of the upcoming supply increase.
Other major unlocks next week include ADA and NEON, which are expected to unlock $19 million and $21 million worth, respectively.
ADA has experienced impressive growth over the past 30 days, surpassing the $1 mark for the first time since 2022. The token rose more than 4% on Friday, and the rally is likely to continue with low supply increases expected next week.
Taiko, Ethena, and EigenLayer will also see supply increases worth $17 million, $9 million, and $4 million, respectively.
