5 Token Unlocks to Watch This Weekđ
Token unlocks are when previously restricted tokens are released into the market. This can influence token prices and market dynamics, especially if there's a surge in supply or early investors decide to sell.
Here are five significant token unlocks happening next week:
1. Optimism (OP)
- Unlock Date: May 31
- Tokens Unlocked: 31.34 million OP
- Current Circulating Supply: 1.08 billion OP
Optimism is a Layer-2 scaling solution for Ethereum, enhancing transaction speed and reducing costs. On May 31, over 30 million OP tokens will be released, mainly to investors and core contributors.
2. 1inch (1INCH)
- Unlock Date: June 1
- Tokens Unlocked: 98.7 million 1INCH
- Current Circulating Supply: 1.15 billion 1INCH
1inch is a decentralized exchange aggregator that finds the best trading rates across various DEXs. The token unlock on June 1 will release nearly 100 million 1INCH tokens.
3. dYdX (DYDX)
- Unlock Date: June 1
- Tokens Unlocked: 33.33 million DYDX
- Current Circulating Supply: 279.8 million DYDX
dYdX is a leading decentralized perpetual futures trading protocol. The upcoming unlock will distribute most of the 33.33 million DYDX tokens.
4. Sui (SUI)
- Unlock Date: June 1
- Tokens Unlocked: 65.08 million SUI
- Current Circulating Supply: 2.33 billion SUI
Sui is a high-performance Layer-1 blockchain using Proof-of-Stake consensus. On June 1, a significant portion of tokens will be released.
5. Ethena (ENA)
- Unlock Date: June 1
- Tokens Unlocked: 53.6 million ENA
- Current Circulating Supply: 1.47 billion ENA
Ethena is a synthetic currency protocol on Ethereum, providing a crypto solution independent of traditional banking. On June 1, over 50 million ENA tokens will be unlocked for ecosystem development.
Other Notable Unlocks
Next week will also see unlocks for Yield Guild Games (YGG), SingularityNET (AGIX), Echelon Prime (PRIME), Manta Network (MANTA), and Acala (ACA). The total value of these unlocks exceeds $380 million.
Remember not to be married to any project!
