SUI and Optimism Rallied on Friday, but Risk a Correction Next Week Due to High Unlock Events

The crypto market will experience a new cliff unlock supply injection next week worth $164.2 million. SUI and Optimism will witness the highest unlock

The crypto market will experience a new cliff unlock supply injection next week. According to data from TokenUnLock, a total of $164.2 million in tokens will be unlocked by various projects.

SUI and Optimism will witness the highest unlock events, with SUI tokens worth more than $50 million and Optimism tokens valued at over $40 million set to hit the market. Other notable unlocks include Ethena, DYDX, YGG and PRIME, each of which will have unlocks above $4 million.

Both SUI and Optimism rallied on Friday, with gains of over 20% and 8%, respectively. However due to the high unlock events, both tokens risk a correction next week.

SUI price surged over 14% in the past 24 hours. Other notable unlock events next week include DYDX, YGG, Echelon Prime and Ethena, with unlocks worth $9.4 million, $5.7 million, $4.9 million and $4.78 million, respectively.

Investors are advised to consider these unlocks and their potential implications on price performance before making any investment decisions. Some investors believe that while the unlocks are bullish in the long run, prices have yet to align with that belief.

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