#数字货币市场洞察 This past week, the crypto market is getting wrecked by token unlocks. From December 9th to 14th, over 9 projects are successively releasing circulating tokens, with a total value exceeding $83 million. The problem is, this round of unlocks is relatively significant—accounting for 0.26% to 2.28% of circulating supply—which is enough to stir up market sentiment.

Looking at the timetable, things get clearer. On the 9th, Avantis (AVNT) unlocked 12.23 million tokens, and Movement (MOVE) followed closely with 161.84 million tokens. These two projects alone released over $11 million worth of tokens on that day. But the real "climax" was on the 10th—a true token unlock frenzy, with IOTA, Linea, and DeFi.App almost moving simultaneously, unlocking over $12 million in a single day. Among these, Linea’s 1.02 billion LINEA was the scariest (1.42% of circulation).

Looking ahead, on the 11th, Mocaverse has a 2.28% unlock. Whether this metaverse ecosystem can withstand the selling pressure remains to be seen. From the 12th to the 14th, $APT, $BB, and $PUMP—these big players take the stage one after another. Aptos’ single unlock of $20.11 million sets the week’s highest record, while Pump Fun’s 10 billion PUMP, though second by value, sounds intimidating just by the numbers.

Honestly, this wave of unlocks exposes the market’s fragility. On one hand, such a large supply is suddenly released, putting immediate pressure on liquidity and increasing selling risk. On the other hand, some projects use this opportunity for ecosystem incentives and community building, which might not be all bad in the long run. The problem is, investors are on the sidelines—no one is sure if this round is a "necessary release" or "the start of dumping." Short-term volatility is bound to rise, and the next moves will depend on the overall market’s performance.