by Coinstrooper Crypto Articles
Quick Take
  • Millions of tokens will enter the crypto market this week.
  • Notably, three major ecosystems, LayerZero (ZRO), SOON (SOON), and YZY (YZY) will release previously locked supply.
  • These unlocks might lead to market volatility and influence price movements in the short term.
  • Here is a breakdown of what to watch for in each project.

What Happened

1. LayerZero (ZRO)

Unlock Date: November 20

Number of Tokens to be Unlocked: 25.71 million ZRO (2.57% of Total Supply)

Market Context

Millions of tokens will enter the crypto market this week. Notably, three major ecosystems, LayerZero (ZRO), SOON (SOON), and YZY (YZY) will release previously locked supply.

These unlocks might lead to market volatility and influence price movements in the short term. Here is a breakdown of what to watch for in each project.

SOON will keep 8.3 million tokens for an airdrop to non-fungible token (NFT) holders. The team will also award 4.17 million coins to the ecosystem. Furthermore, it will allocate 2.22 million SOON for community incentives and 520,830 tokens for airdrop and liquidity.

Why It Matters

Current Circulating Supply: 198.25 million ZRO

Total Supply: 1 billion ZRO

Details

LayerZero is an interoperability protocol designed to connect different blockchains. Its main goal is to enable seamless cross-chain communication so that decentralized applications (dApps) can interact across multiple blockchains without relying on traditional bridging models.

The team will release 25.71 million tokens on November 20, valued at around $36.76 million. The stack accounts for 7.29% of the released supply.

LayerZero will award 13.42 million altcoins to strategic partners. Core contributors will get 10.63 million ZRO. Lastly, 1.67 million ZRO are for tokens repurchased by the team.

2. Soon (SOON)

Unlock Date: November 23

Number of Tokens to be Unlocked: 15.21 million SOON (1.54% of Total Supply)

Current Circulating Supply: 281.1 million SOON

Total Supply: 984.1 million SOON

SOON is a high-performance Solana Virtual Machine (SVM) Rollup, designed to implement the Super Adoption Stack. It includes three main components: SOON Mainnet, SOON Stack, and InterSOON.

The network will unlock 15.21 million SOON on November 23. The stack represents 4.33% of the released supply and is worth $28.29 million.

3. YZY (YZY)

Unlock Date: November 19

Number of Tokens to be Unlocked: 37.5 million YZY (3.75% of Total Supply)

Current Circulating Supply: 129.99 million YZY

Total supply: 1 billion YZY

YZY is a cryptocurrency token associated with the rapper Ye (formerly known as Kanye West). It is positioned as part of the broader “YZY MONEY” ecosystem, which includes the YZY token, a payment platform called Ye Pay, and a physical YZY Card.