by Coinstrooper Crypto Articles
Quick Take
  • The crypto market will welcome tokens worth more than $636.4 million this week.
  • Major projects, including Sui (SUI), EigenCloud (EIGEN), and Kamino (KMNO), will release significant new token supplies.
  • These unlocks could introduce market volatility and influence short-term price movements.
  • Number of Tokens to be Unlocked: 13.72 million SUI

What Happened

These unlocks could introduce market volatility and influence short-term price movements. So, here’s a breakdown of what to watch.

EigenCloud will direct 19.75 million tokens towards investors. Moreover, early contributors will get 17.07 million EIGEN.

Market Context

The crypto market will welcome tokens worth more than $636.4 million this week. Major projects, including Sui (SUI), EigenCloud (EIGEN), and Kamino (KMNO), will release significant new token supplies.

On August 1, the network will release 13.72 million SUI into the market, continuing its trend of cliff unlocks at the beginning of the month. The tokens are worth $9.91 million and represent 0.34% of the current released supply.

Kamino Finance is a decentralized finance (DeFi) protocol on the Solana (SOL) blockchain that specializes in borrowing, lending, and liquidity provision.

Why It Matters

1. Sui (SUI)

Unlock Date: August 1

Details

Number of Tokens to be Unlocked: 13.72 million SUI

Released Supply: 4.06 billion SUI

Total supply: 10 billion SUI

Sui is a high-performance blockchain designed to provide scalability, low latency, and an architecture for decentralized applications (dApps). It also distinguishes itself with an object-centric data model and the Move programming language, which seeks to address inefficiencies in existing blockchain architectures.

The network will split the unlocked altcoins 3 ways. Early Contributors will gain 7.65 million tokens. In addition, Community Reserve will receive 4 million tokens. Lastly, Mysten Labs Treasury will get 2.07 million SUI.

2. EigenCloud (EIGEN)

Number of Tokens to be Unlocked: 36.82 million EIGEN

Released Supply: 635.67 million EIGEN

Total Supply: 1.67 billion EIGEN (Y2035)

EigenCloud (formerly EigenLayer) is a verifiable cloud platform built on the EigenLayer protocol. It provides developers with a unified infrastructure for creating trustless, verifiable Web3 applications and services.

On August 1, the network will unlock 36.82 million EIGEN tokens, valued at approximately $7.63 million. The unlocked tokens represent 5.79% of the released supply.

3. Kamino (KMNO)

Unlock Date: July 30

Number of Tokens to be Unlocked: 229.17 million KMNO

Released Supply: 7.71 billion KMNO

Total supply: 10 billion KMNO