TLDR
Within the past 7 days (1824 Nov, UTC), zkSync (ZK) and Merlin Chain (MERL) had token unlocks, and ethereum/">Optimism (OP) has one scheduled later this week.
- ZKsync (ZK): unlocked 173.41 million tokens on 19 Nov per a market update, increasing circulating supply. See the weekly unlocks report.
- Merlin Chain (MERL): unlocked 36.14 million tokens on 19 Nov, a notable L2 event. Details in the same report.
- Optimism (OP): ~32.21 million tokens scheduled to unlock on 30 Nov (this week). See the week-ahead summary.
Deep Dive
1. ZKsync Unlock
ZKsync (ZK) unlocked 173.41 million tokens on 19 Nov, which added 0.83% of total supply and roughly 2.4% of market cap, per the market recap. The event was highlighted alongside other weekly unlocks in a crypto news roundup and is relevant to near-term liquidity. See the weekly unlocks report.
- Unlocks increase tradable supply and can pressure price if demand is thin.
- Attention around L2 unlocks often raises short-term volatility.
If you track ZK, monitor 24h volumes and spreads around unlock windows for signs of supply absorption or slippage.
2. Merlin Chain Unlock
Merlin Chain (MERL) unlocked 36.14 million tokens on 19 Nov (about 1.72% of supply), flagged as a key event among the weeks unlocks. This is a Bitcoin L2 and its unlock was large enough to be listed as a watch item. See the weekly unlocks report.
- Size relative to market cap matters for price impact.
- Bitcoin L2s are drawing attention, so follow-through liquidity can be uneven.
For MERL exposure, watch top venues for depth changes and whether post-unlock flows skew toward sellers or stakers.
3. Optimism Scheduled
Optimism (OP) has ~32.21 million tokens scheduled to unlock on 30 Nov, making it the notable Ethereum L2 unlock later this week. See the week-ahead summary.
- Timing within the week (end of period) can bunch selling, so day-of liquidity is key.
- Other L2s (for example Starknet) run ongoing unlock cadences; reports noted regular monthly investor and contributor releases, though the latest widely cited event fell just outside this 7-day window. See the Starknet roundup.
If OP unlock timing matters for you, prepare to reassess after 30 Nov based on actual absorption and any staking redirects.
Conclusion
This weeks L2 unlocks centered on zkSync and Merlin Chain, with Optimisms larger release approaching on 30 Nov. Unlocks can add short-term supply and volatility; the practical lens is to watch whether new tokens are staked, held, or sold, and to track venue depth and spreads around the dates.
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