Token unlocks this week: Ethena (ENA) and TAIKO lead $369 million value release

The cryptocurrency market will see token unlocks totaling over $369 million between June 2 and June 9.

Ethena (ENA) and TAIKO lead the cliff unlocks, while Solana continues its regular linear unlock schedule.

Ethena leads large token cliff unlocks

As per Tokenomist data, Ethena (ENA) dominates the week’s major cliff unlocks with 212.50 million tokens valued at $65.86 million scheduled for release. This accounts for 3.72% of the unlock supply. This makes ENA the largest single token unlock by dollar value during the June 2-9 period.

TAIKO follows as the second-largest cliff unlock with 81.55 million tokens worth $47.40 million. However, this accounts for a much larger portion of its unlock supply at 71.23%. The high percentage suggests this unlock could have a more pronounced impact on TAIKO’s circulating supply relative to its existing token base.

NEON rounds up the major cliff unlocks category with 53.19 million tokens valued at $6.94 million. This represents 6.48% of its unlock supply. While smaller in dollar terms compared to ENA and TAIKO, this release still adds meaningful supply to the NEON ecosystem.

These three cliff unlocks total approximately $120.2 million across the projects. They could create concentrated selling pressure as large token amounts are released all at once rather than gradually over time. The cliff unlock structure typically creates more immediate market impact compared to linear releases.

Solana to unlock $73.67 million in SOL

Solana leads the linear unlock category with 465.77K tokens worth $73.67 million entering circulation during the June 2-9 period. However, this represents only 0.09% of its circulating supply due to the cryptocurrency’s large existing token supply.

Worldcoin (WLD) follows with 37.23 million tokens valued at $42.81 million and accounts for 2.69% of its circulating supply. TAO releases 50.40K tokens worth $20.84 million, representing 0.59% of its circulating supply, while DOGE contributes 95.89 million tokens valued at $18.46 million. This makes up just 0.06% of its massive circulating supply.

TIA adds 6.96 million tokens worth $15.38 million to circulation (1.06% of circulating supply), while AVAX releases 700K tokens valued at $14.54 million (0.17%).

Additional linear unlocks include SUI with 3.35 million tokens worth $11.08 million (0.10%), MORPHO releasing 6.96 million tokens valued at $9.46 million (2.57%), and ETHFI contributing 8.46 million tokens worth $9.73 million (3.53%).

Other notable linear unlocks include DOT with 2.30 million tokens ($9.35M), IP with 2.32 million tokens ($9.46M), NEAR with 2.97 million tokens ($7.27M), and JTO adding 4.20 million tokens ($7.15M) to circulation.

Less popular unlocks at different progress stages

A few smaller cryptocurrency projects are approaching a number of milestones along token unlock timelines, from different points in development towards complete circulation.

According to CoinMarketCap statistics, Neutron (NTRN) is presently displaying 25.95% unlock completion with 594.43 million tokens unlocked, and has its future unlock of 9.96 million NTRN tokens lined up.

BRC App (BRCT) has unlocked 73.42% with 98 million tokens already in the market. The project’s second unlock comprises 37.99 million BRCT tokens worth $465.44 and accounts for 3.80% of the locked supply.

Dopamine App (DOPE) has completed 43.24% of its unlock plan with 125 million tokens distributed. Its launch has 14.36 million DOPE tokens worth $18,543.18, which is 2.87% of locked tokens in total.

Arcana Network (XAR) has reached 41.83% unlock with 421.18 million tokens in supply. The upcoming unlock is 29.38 million XAR tokens worth $157,129.73, which represents 2.94% of locked supply.

MetaDOS (SECOND) achieved 43.81% of its unlock level with 3.14 billion tokens in supply. The release comes with 115.91 million SECOND tokens valued at $8,184.92, or 1.16% of total locked supply.

These gradual unlocks exert incremental pressure on token supplies since projects stick to their scheduled release timetables.

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