OP, FTN, ZRO Lead Major Token Unlocks This Week

Tokens worth over $790 million will enter the crypto market this week. Notably, three major ecosystems, Optimism (OP), Fast Token (FTN), and LayerZero (ZRO), 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.

1. Optimism (OP)

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• Unlock Date: September 21
• Number of Tokens to be Unlocked: 116 million OP (2.7% of Total Supply)
• Current Circulating Supply: 1.77 billion OP
• Total supply: 4.29 billion OP

Optimism is a Layer-2 scaling solution for Ethereum (ETH). It utilizes optimistic rollups to enhance transaction speed and reduce costs while preserving Ethereum’s security.

On September 21, the team will release a massive supply of 116 million altcoins into the market. The tokens are worth $92.3 million. It represents 6.89% of the released supply.

Furthermore, Optimism will direct all the tokens towards an unallocated ecosystem fund.

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2. FastToken (FTN)

• Unlock Date: September 18
• Number of Tokens to be Unlocked: 20 million FTN (2% of Total Supply)
• Current Circulating Supply: 432 million FTN
• Total supply: 1 billion FTN

FastToken serves as the native cryptocurrency of the Fastex ecosystem. It runs on Bahamut, a Layer 1 public blockchain built on the Ethereum Virtual Machine (EVM). Bahamut also uses a distinctive consensus mechanism known as Proof of Stake and Activity (PoSA).

The network will unlock 20 million tokens on September 18, in line with its pattern of monthly cliff unlocks. 

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The supply is worth $89.6 million, accounting for 4.63% of the current market capitalization of the altcoin. Furthermore, the founders will receive the entire unlocked supply.

3. LayerZero (ZRO)

• Unlock Date: September 20
• Number of Tokens to be Unlocked: 25.71 million ZRO
• Current Circulating Supply: 111.15 million ZRO
• Total Supply: 1 billion ZRO

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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 September 20, valued at around $49.36 million. The stack accounts for 8.53% 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.

In addition to these three, other major projects will release tokens during this period. Investors can look out for token unlocks from Velo (VELO), Arbitrum (ARB), Sei (SEI), and SPACE ID (ID).