Be VERY Careful Crypto Holders – $625 Million Token Unlocks

In the next 7 days, major token unlocks are about to happen. The total value of these tokens unlock exceeds $625 million. You can’t neglect them, since they may affect the token price of projects. Especially if it’s one of your favorite projects, you want to be aware of this. It may be worth selling your bag, since you may expect a price drop. Once the drop occurs, you can buy back your bag, and effectively, you hold more tokens.

During the next week, we have plenty of token unlocks of over $5 million each coming up. Furthermore, there are also plenty of linear unlocks during this week over $1 million. Plus, there’s a big unlock towards the end of May. So, let’s dive in.

One-Time or Cliff Token Unlocks

So, for starters, during this week, we have plenty of one-time unlocks. These can be monthly, bi-monthly, quarterly, you name it. They’re also referred to as cliff unlocks. The cliff is the first period when there are no unlocks. Let’s take a closer look at the ones that have at least a $5 million unlock, or higher.

Sui Network ($SUI)

The Sui Network unlocks 74 million $SUI on the 1st of May. At the current price of $3.58, that’s worth $265 million. We know that Sui and its ecosystem are on fire. However, this is a weaker point of Sui, only 32.5% of its tokens circulate. Nonetheless, check out our recent video about three Sui ecosystem tokens. See the picture below.

Source: Tokenomist

Omni Network ($OMNI)

Omni Network and its $OMNI token are next. On May 3rd, Omni unlocks 15.98 $OMNI. At the current $OMNI price of $2.49, that’s worth almost $40 million. Unfortunately, $OMNI is in a downtrend, after it came off its current ATH of $58 about a year ago. 

Optimism ($OP)

On 30th April, Optimism is unlocking 31.34 $OP. That’s worth $24.5 million at its current price of 78 cents. $OP, like many L2s, is also not having the best of times. During the last 14 days it was up by 14.5%, but over one year, it’s down 70%.

Ethena ($ENA)

Ethena and its $ENA token are up next. On the 2nd of May, there’s an unlocking of 40.64 million $ENA. This is worth $14.28 million at its current price of 35 cents. Ethena has also been in the hurt locker since January. However, it’s about to launch Converge. This is an RWA-focused blockchain, with Securatize. This could be a massive game changer for Ethena. Keep an eye out for it.

Other One-Time Unlocks

Other noteworthy one-time unlocks of over $5 million are with Kamino ($KMNO), dYdX ($DYDX), and IOTA ($IOTA).

Linear Unlocks in May

In contrast to cliff or one-time unlocks, there are also linear unlocks. These are unlocks that happen on a regular basis. Here’s are some daily unlocks of over $1 million.

Solana ($SOL)

Solana ($SOL) has daily unlocks of 66.4k $SOL, or around $10 million. That’s with the current $SOL price of $150. $SOL had a dip after it memecoins platform Pump dot fun crashed. However, it seems to be on the path of recovery, once again. Oh, yeah, don’t forget that $SOL has an infinite supply! See the picture below.

Source: Tokenomist

Official Trump ($TRUMP)

The Official Trump ($TRUMP) token releases 493.15k tokens per day. That’s around $7.2 million per day at the current $TRUMP price of $15.50. Did you get your seat at the dinner table with the other 219 people?

Worldcoin ($WLD)

Worldcoin ($WLD) is also releasing 5.32 million tokens per day. At the current $WLD price of $1.13, that’s $6 million.

Celestia ($TIA)

Celestia ($TIA) is another token with an unlimited supply. It releases 994k tokens per day. That’s only 0.16% per day of the circulating supply. However, at a $2.90 $TIA price, that’s still $2.87 million per day.

Bittensor ($TAO)

Bittensor and its $TAO is currently the hottest crypto AI project. However, each day it releases 7.2k $TAO. At the current $TAO price of $370, we’re looking at $2.67 million per day. On the upside, $TAO does have a limited max supply of 21 million tokens. Check out our recent video on Bittensor.

Avalanche ($AVAX)

Avalanche ($AVAX) has been around since 2021. However, it has a daily token release of 100k $AVAX. At the current $AVAX price of $22, that’s $22 million. Since 2021, only 68% of all $AVAX tokens have unlocked. There are around 90+ tokens that have daily unlocks.

The Big One this Month

Well, I also mentioned that there will be a big token unlock this month. Well, take a seat and make sure you sit down. That’s because this is one of the biggest single unlocks this year. I’m talking about Pyth Network and its $PYTH token. 

Pyth Network ($PYTH)

Come 19th May, there will be 2.13 billion new $PYTH tokens on the market. That’s no less than 58.62% of the circulating supply. We’re looking at a $331.57 million unlock. This number will most certainly cause volatility for the $PYTH price. The market will most likely need a while to recover from this unleashing of tokens. See the picture below.

Source: Tokenomist

Solayer ($LAYER)

Solayer ($LAYER), which launched in February this year, has a big unlock coming up on 11th May. Nothing size wise compared to $PYTH, but still big. 27 million $LAYER will hit the crypto streets, 5 or $73.76 million at the current $LAYER price of $2.73. That’s 12.87% of the circulating supply. This may give a temporary dent in the upwards trend of $LAYER.

And that’s it for this month. Plenty of token unlocks are going on. If Bitcoin keeps going up, you can expect reduced volatility. In that case, the market can absorb some of the volatility. So, how do you think the Bitcoin price will develop in May? Let me know in the comments and do join our discussions on X and Discord.

Disclaimer

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