Six token projects are set to release their first post-cliff VC allocations in coming months, led by Plasma (XPL) at $74.8M, per Cryptorank unlock data. The rest of the cohort adds another $48.4M of supply: 2Z at $20.9M, DATA at $14.6M, PROVE at $5.3M, SAHARA at $4.6M, and KGEN at $4.0M. Combined first-unlock value across the six names sits just under $124M.
Why it matters
These are the largest cliff-end releases on the radar, the moment early-backer tokens become freely tradable after the initial locked period. VC allocations typically come out of the gate with thin cost basis and few restrictions on when they sell, so the releases add fresh sell-side supply on top of whatever the market is already absorbing. When unlock-value-to-market-cap ratios run high, even a partial rotation into stablecoins or majors by early backers is enough to cap any relief rally.
Market impact
The XPL line is the one traders will watch first. A $74.8M unlock on a mid-cap name with a floating supply step-change tends to behave the same way every time: spot drifts lower into the event, derivatives open interest tilts bearish, and the actual unlock day mostly prices the overhang in advance. The smaller unlocks matter less in absolute terms but compound the rotation risk across the altcoin basket, especially if BTC stays rangebound and there is no broad-market bid to soak up the supply.
Source: [source](http://telegraph.controller.bot/files/8336652911/AgACAgIAAxkBAAJBr2pWae6Wqfah3i31F_9d4Ep1b0mwAAL0GGsbZ2e4Spk-NaG1kR6lAQADAgADeQADPQQ)
Frequently asked questions
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What is the largest upcoming VC token unlock?
Plasma (XPL) leads the upcoming cliff-end unlocks at $74.8M, the largest single first-unlock line in the cohort according to Cryptorank data.
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Which projects have first VC unlocks coming?
Six projects are set to release their first post-cliff VC allocations: XPL ($74.8M), 2Z ($20.9M), DATA ($14.6M), PROVE ($5.3M), SAHARA ($4.6M), and KGEN ($4.0M).
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Why do post-cliff VC unlocks pressure token prices?
Early-backer tokens unlock with thin cost basis and few selling restrictions, adding fresh sell-side supply that can outweigh organic demand, especially when unlock-value-to-market-cap ratios run high.
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How much total VC supply is unlocking in this cohort?
Combined first-unlock value across the six projects sits just under $124M, all releasing into the market in coming months.
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How does the market typically react to large token unlocks?
Spot usually drifts lower into the event, derivatives open interest tilts bearish, and the unlock day mostly prices the overhang in advance rather than producing a fresh downside flush.
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