April has historically been a strong month for crypto, and traders hope for a repeat this year. Several tokens, including Wormhole, Optimism, Zeta, and Sui, will see major unlocks this week. Furthermore, the markets are also gearing up for other risks.
In the week of March 31 to April 7, the crypto market will see both risks and opportunities. Notably, traders are bracing for a potential tariff announcement by former US President Donald Trump on April 2. So far, tariffs have put major pressure both on stocks and crypto, as traders are pricing in risks from potential economic damage the tariffs might cause.
Still, others are hoping for a repeat of the historical trend of April being a month of strong growth. According to Barchart, since 2010, April has averaged a 27% return for Bitcoin, indicating potential positive signs for the market.
Token Unlocks Next Week: Optimism, Sui, Wormhole, Zeta
The first up is Optimism (OP), with an unlock event scheduled for Monday, March 31. Approximately $28.67 million tokens will hit the markets, equivalent to 1.93% of the circulating supply or float. These funds will go to insiders and be split among the team and early investors. The large unlock and distribution suggest Optimism could face selling pressure this week.
Next up is Sui, which will release $78.6 million tokens in circulation on Tuesday, April 1, equivalent to 1.06% of the float. Out of these, $47.4 million in tokens will go to the community reserve, set for rewards. $17.52 million will go toward the Mysten Labs Treasury to fund expenses, while $13.68 million will go to stakers. Since most tokens are distributed to holders rather than sold on the open market, the effect of the unlock is likely to be moderate.
On the same day, ZetaChain (ZETA) will have a major unlock. Around $17.66 million tokens will hit the markets, equivalent to 6.05% of the float. Most tokens will go to insiders and be split between core contributors, advisors, and the treasury. This means that the potential price impact could be significant.
On Thursday, Wormhole (W) will see a massive unlock event, with $144.79 million in tokens unlocked. This represents 47.64% of the float and could induce significant volatility. Furthermore, most of these tokens will go to core contributors, further increasing selling potential.
READ MORE: Crypto Weekly Recap: Here’s What Happened in Crypto This Week
