Over $312 million in token unlocks are set to pressure altcoin prices this week, as the Altcoin Season Index falls to 25.
The crypto traders are witnessing a phase of fear as the total market capitalization dropped 3.7% to $3.59 trillion on Nov. 3. This dip comes as over $312 million in token unlocks are set to hit the market between Nov. 3 and Nov. 10, according to data from Tokenomist.
These unlocks will release new supply from dozens of altcoins, many of which are still struggling to find strong demand. Among the largest one-time unlocks, valued above $5 million, are Ethena ENA $0.20 24h volatility: 0.1% Market cap: $1.55 B Vol. 24h: $313.73 M , Memecoin (MEME), and Movement (MOVE).
Meanwhile, ongoing daily releases (exceeding $1 million per day) are expected from Solana SOL $122.3 24h volatility: 0.2% Market cap: $68.78 B Vol. 24h: $7.14 B , Official Trump (TRUMP), Worldcoin WLD $0.50 24h volatility: 0.9% Market cap: $1.23 B Vol. 24h: $126.89 M , Dogecoin DOGE $0.13 24h volatility: 0.6% Market cap: $19.11 B Vol. 24h: $1.92 B , Avalanche AVAX $11.66 24h volatility: 0.6% Market cap: $5.02 B Vol. 24h: $513.54 M , Aster (ASTER), and others.
According to Tokenomist, major one-time token unlocks (over $5 million) in the next seven days include ENA, MEME, MOVE, BB, RED, SXT, and MAVIA. Meanwhile, large linear unlocks (over $1 million per day) are expected for SOL, TRUMP, WLD, DOGE, AVAX, ASTER, TAO, IP, and ETHFI. The… pic.twitter.com/LewJSloxt8
— Wu Blockchain (@WuBlockchain) November 3, 2025
Historically, large-scale token unlocks tend to flood the market with supply, creating downward pressure on token prices. This could be even more dangerous when investor sentiment is already fragile as the Altcoin Season index has dropped to 25, a multi-month low.
Altcoin underperformance reaches extreme levels
A recent analysis from Glassnode highlights how deeply altcoins have underperformed compared to Bitcoin BTC $86 928 24h volatility: 0.6% Market cap: $1.74 T Vol. 24h: $63.73 B . The proportion of altcoins currently in profit is hovering at levels last seen during the 2022 bear market and the U.S.-China tariff war.
This chart shows the extreme altcoin underperformance relative to BTC. Altcoin supply in profit is at levels we've only seen during the tariff war and the 2022 bear market. If you're a passive altcoin investor, it's extremely likely you've underperformed BTC pic.twitter.com/rNehI9MoEp
— AntiFragile (@0x_anti) November 2, 2025
Even large holders, often referred to as “whales,” have been realizing losses. The Spent Output Profit Ratio (SOPR) for this group remains below 1 since December 2024.
This indicates that most selling has occurred at a loss for nearly a year, an unusual stretch even for the volatile altcoin market.
Despite the current gloom, some analysts see potential for a turnaround. Market analyst Cas Abbe pointed out that Bitcoin’s dominance chart is forming a head-and-shoulders pattern. This is similar to the trajectory seen in late 2020, right before altcoins began to outperform BTC.
Bitcoin dominance head and shoulder pattern 👀
The fractal is very similar to Q4 2020, right before alts started to outperform $BTC.
The key level to look at is 58% zone, and a breakdown below it will trigger another Altcoin rally. pic.twitter.com/lc5qYNIua6
— Cas Abbé (@cas_abbe) November 3, 2025
At present, Bitcoin dominance sits at 60%, up more than 2% in the past month. Abbe explained that traders should watch for a 58% dominance level, and a breakdown below that could trigger another altcoin rally.
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