TokenUnlocks data indicates significant crypto token unlocks are scheduled for this weekend and the following week. These unlock events are known to influence the prices of cryptocurrencies. Typically, an unlock increases the volume of assets in circulation, contributing to selling pressure.
Watch Out for Next Week’s Token Unlocks
Over 5.31 billion MEME tokens, valued at $155.98 million and representing 31.97% of the circulating supply, will unlock on May 3, potentially marking the beginning of a significant period. The unlocked tokens will be distributed through a community airdrop, to advisors, and investors.
Additionally, starting May 3, a linear unlocking of 49.47 million MEME tokens, worth $1.45 million, will take place daily.
The dYdX ecosystem will also unlock 33.33 million DYDX tokens valued at $73.33 million on May 1. These tokens, which make up 10.72% of the existing circulating supply, will be distributed to founders, employees, future employees, and advisors.
Ethereum Layer-2 (L2) network Optimism continues to see activity. On April 29, a lockup worth $58.47 million will be unlocked, distributing 24.16 million OP tokens to core participants and investors.
On April 30, the Echelon Prime network will unlock 1.66 million PRIME tokens, valued at $30.03 million and representing 4.43% of the circulating supply.
On the same day, the notable Sui ecosystem will unlock 4 million SUI tokens valued at $4.88 million. Additionally, Manta Network will release 1.87 MANTA tokens worth $3.40 million into the market.
One of the famous tokens of recent times, Ethena, will unlock tokens valued at $46.71 million, which represents 3.76% of the circulating tokens.
Which Tokens Are Unlocking in the Coming Hours?
Yield Guild Games ecosystem will unlock 16.69 million YGG tokens valued at $15.12 million on April 27, Saturday, thus releasing 4.57% of the circulating supply into the market.
On April 28, Sunday, the artificial intelligence crypto ecosystem SingularityNET, will draw investor attention with the unlocking of 8.84 million AGIX tokens. This unlock, valued at $8.32 million, will represent a transaction marking 0.69% of the circulating tokens.
These upcoming unlock events in the following days are observed to negatively affect the market. Generally, these unlocks lead to price drops if the necessary market volume is not maintained.
