We are looking at substantial token unlocks planned for March through the releases of large tokens from Immutable (IMX), Optimism (OP), and Space ID (ID) which collectively unlock millions of tokens available for circulation. Market sentiment together with upcoming price movements may be affected by these unlocks which represent a total value exceeding $100 million.
Key Token Unlocks to Watch
On March 21 Immutable X (IMX) together with Plume Network both plan to release 24.52 million IMX valued at $13.35 million and 108.34 million PLUME worth $20.74 million. IMX operates as a Layer-2 scaling solution for Ethereum-based gaming while Plume Network functions as a decentralized data-sharing protocol that has attracted growing adoption.
The Space ID (ID) platform will unlock 78.49 million tokens that have a total estimated value of $19.60 million on March 22 representing 3.93% of its total supply. The platform stands out in the blockchain naming service industry because it delivers decentralized identity services through its platform.
ALTLayer (ALT) will unlock 240.80 million tokens valued at $9 million through a token release on March 25 before Yield Guild Games (YGG) distributes 11.49 million tokens worth $2.28 million on March 27.
Three new projects will unlock their assets during the last wave which will occur on March 31.
- Self Chain (SLF): 9.27 million tokens ($2.42 million)
- Grass (GRASS): 3.71 million tokens ($4.66 million)
- The optimism project (OP) will release 32.21 million tokens constituting the largest single unlock of the month that possesses a value of $27.49 million.
Market Impact and Investor Sentiment
The huge OP token release worth $27.49 million by Optimism on March 31 stands out since previous similar events caused volatility within the Layer-2 scaling solution. The price stability of Space ID tokens will be directly affected by the upcoming 3.93% supply unlock event scheduled for March 22.
The minimal impact from supply curve effects is likely for SOSOVALUE (0.67%) and Grass (0.37%) because their small supply increase is deemed insignificant.
What’s Next?
The upcoming token unlocks will receive strict monitoring by investors who want to track market responses. Traders will take strategic positions by predicting upcoming market drops and potential buying situations. Token values from projects that maintain utility combined with ongoing development tend to get absorbed by market forces without causing negative effects.
