This weekend and next week, expect many crypto tokens to unlock. These events usually bring more tokens into the market, pushing prices down. With significant amounts about to be released, brace for an impact on token prices.
TokenUnlocks data highlights major crypto token unlocks slated for this weekend and the upcoming week. These events have a known impact on cryptocurrency prices. Usually, unlocks result in more assets circulating, adding to selling pressure and influencing prices.
Upcoming Crypto Token Unlock Events
MEME Token Unlock: On May 3, over 5.31 billion MEME tokens, valued at $155.98 million, representing 31.97% of the circulating supply, will unlock. They 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 occur daily.
dYdX Token Unlock: On May 1, the dYdX ecosystem will unlock 33.33 million DYDX tokens valued at $73.33 million, making up 10.72% of the existing circulating supply. These tokens will be distributed to founders, employees, future employees, and advisors.
Optimism (Ethereum L2) Unlock: On April 29, a lockup worth $58.47 million will be unlocked, distributing 24.16 million OP tokens to core participants and investors.
Echelon Prime Token Unlock: On April 30, the Echelon Prime network will unlock 1.66 million PRIME tokens, valued at $30.03 million, representing 4.43% of the circulating supply.
Sui Ecosystem and Manta Network Unlocks: Also on April 30, 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.
Ethena Token Unlock: Tokens valued at $46.71 million, representing 3.76% of the circulating tokens, will unlock for Ethena.
Tokens Unlocking Soon: What to Expect
On April 27, Saturday, the Yield Guild Games ecosystem will unlock 16.69 million YGG tokens valued at $15.12 million. This release will account for 4.57% of the circulating supply entering 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.
Impact on the Market
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.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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