The cryptocurrency market is preparing for a wave of major token unlocks scheduled for the final weeks of November, with several large projects set to release millions of dollars in previously locked supply. These unlocks typically increase the circulating supply of a token, which can trigger volatility, put downward pressure on price, and challenge liquidity in the short term. The total value of major unlocks scheduled for the period is estimated to exceed $297 million.
Three major ecosystems are central to this supply increase. LayerZero (ZRO), an interoperability protocol, is scheduled to unlock 25.71 million ZRO tokens around November 20, representing the largest single cliff unlock by dollar value and significantly boosting its circulating supply. The high-performance Solana Virtual Machine Rollup, SOON (SOON), is slated to release 15.21 million tokens around November 23, with a portion allocated for NFT holders’ airdrops. Additionally, the token YZY (YZY) is set to unlock 37.5 million tokens on November 19, with the entire amount allocated to the token’s initial investment entity.
These unlocks provide a critical test of supply pressure and investor sentiment, especially coming amid a sharp market correction that saw Bitcoin drop below $100,000. Investors are closely tracking where the released tokens are allocated—whether to long-term holders or those likely to sell—to assess the risk of a market slump. The events underscore the inherent risks associated with vesting schedules and token supply management in the volatile digital asset sector.
