Crypto Market Steadies Above $3.4T as Token Unlocks Stir Altcoin Volatility

TLDR:

• Bitcoin and Ethereum post gains, but trading volumes suggest weak follow-through.
• $303M in upcoming token unlocks may test market stability in coming days.
• Toncoin surged 10% on rumors, then dropped after UAE authorities denied involvement.
• Small caps like KORI and MYX rallied over 90%, driven by retail speculation and narratives.

The global crypto market hovered around the $3.4 trillion mark, holding steady despite mixed price action and moderate volatility. Traders remained cautiously optimistic as major coins posted modest gains while small caps surged in pockets. 

Bitcoin and Ethereum both recorded slight upticks, yet uncertainty lingered due to fluctuating volumes and upcoming token unlocks. Market observers pointed to renewed on-chain activity and speculative surges as signals of potential momentum shifts. 

Meanwhile, rumors and unlock schedules stirred short-term volatility across altcoins.

Major Coins Post Gains Amid Mixed Sentiment

Bitcoin climbed to $108,907 with a 0.68% rise, while Ethereum advanced 1.81% to $2,570. 

Despite these gains, trading volumes dipped slightly, suggesting limited conviction behind the move. According to CryptoRank.io, the Fear & Greed Index remained elevated at 73, signaling continued risk appetite.

📈 Market Overview

The crypto market shows mixed signals, with total market cap at around $3.4T. Major coins posted moderate gains amid mild volatility, while some altcoins saw significant surges. Cautious optimism prevails despite a slight dip in trading volume.$BTC: $108,907… pic.twitter.com/OBEytCipyE

— CryptoRank.io (@CryptoRank_io) July 7, 2025

The broader market capitalization stood at $3.54 trillion, while daily liquidations totaled $182.65 million. These figures indicate a resilient but cautious market, with volatility creeping into smaller tokens.

Toncoin briefly surged nearly 10% following speculation about a UAE-based “Crypto Golden Visa” tied to TON staking. 

However, the rally quickly reversed after authorities denied involvement. The incident highlighted the market’s sensitivity to unconfirmed news, especially in altcoins with growing retail interest.

Traders reacted sharply to the Toncoin rumor, which briefly fueled a spike in volume before cooling. This pattern reflected broader market behavior, where narrative-driven tokens often see sharp but short-lived moves.

Token Unlocks Poised to Add Pressure

Wu Blockchain, citing Tokenomist data, reported that over $303 million worth of token unlocks are expected in the next week. 

One-time unlocks are planned for APT, IMX, IO, MOVE, and AGI, while daily linear unlocks above $1 million will hit assets like SOL, DOGE, WLD, and DOT. According to Alva, the unlocks could trigger sharp dips if market demand doesn’t absorb the new supply. 

In past cases, large unlocks for APT, WLD, and SUI led to price drops unless offset by bullish developments.

According to Tokenomist, over the next 7 days, major one-time token unlocks (worth over $5M) will occur for APT, IMX, IO, MOVE, and AGI. Additionally, significant linear daily unlocks (over $1M per day) are expected for SOL, WLD, TIA, DOGE, TAO, AVAX, SUI, DOT, IP, MORPHO, SEI,… pic.twitter.com/34uRa8SBMV

— Wu Blockchain (@WuBlockchain) July 7, 2025

Several low-cap tokens outperformed the broader market. KORI surged 117.9%, followed by MYX with a 96.9% jump. ECHO, BONK, and VIC also logged double-digit gains, driven by social momentum and short-term speculation.

These gains reflected a rising appetite for higher-risk bets amid stable macro conditions. The Altcoin Index currently sits at 32/100, suggesting altcoins still have room to catch up if bullish sentiment grows.