- Token unlocks worth nearly $1.33 billion are lined up for next week.
- Aevo, Aptos, and Arbitrum will hold some of the most voluminous unlocks.
- Token holders should brace for volatility as unlocks are typically bearish catalysts.
The timing and scale of token unlocks can significantly impact market dynamics. If a large number of tokens are unlocked at once, it may overwhelm buying interest and lead to a temporary decrease in token price. Conversely, gradual or scheduled unlocks may allow the market to absorb the new supply more smoothly.
Also Read: Bitcoin Weekly Forecast: Why BTC is close to a bottom
Token in the lineup for next week cliff unlocks
Token unlocks can introduce volatility into the market as traders react to the new supply of tokens. Price fluctuations may occur as investors adjust their positions based on the unlock schedule and the perceived impact on the token's value. Traders should be prepared for potential price swings during token unlock events.
Starting the train, Aptos network will unlock 11.31 million APT tokens worth $99.75 million on Sunday May 12. This will comprise 2.64% of the token’s circulating supply.
On May 14, the dYdX ecosystem will unlock 2.12 million DYDX tokens worth $4.58 million and comprising 0.79% of the circulating supply.
On May 15, several ecosystems have their cliff unlocks on the line up. These include:
- The Starknet network, with $80.64 million worth of unlocks, where 64 million STRK tokens will be unleashed. These many tokens make up for 8.79% of the circulating supply.
- The Cyber network with 886.12 CYBER tokens worth $7.34 million and making up for 4.13% of its circulating supply.
- The Aevo ecosystem with the largest cliff unlock, pouring 827.60 million AEVO tokens, which constitute 752.36% of its circulating supply. These tokens are worth $1.04 billion at current rates.
On May 16, Ethereum Layer-2 (L2) network Arbitrum will unlock 92.65 ARB tokens worth $96.44 million in a cliff unlock. These tokens will comprise 3.49% of its circulating supply.
Friday, May 17, also has multiple cliff unlock events in the chain. The most significant will be:
- 15.60 million APE tokens (2.48% of the circulating supply) worth $19.97 million at current rates to be unlocked by the ApeCoin network.
- Gaming ecosystem ImmutableX to unlock 25.53 million IMX tokens worth $55.15 million and constituting 1.75% of the circulating supply.
- AI ecosystem Render network to unleash 760.57K RNDR tokens worth $8.24 million and comprising 0.20% of the circulating supply.
On Saturday, the Manta Network will unlock 6.67 million MANTA tokens worth $11.47 million and comprising 2.66% of its circulating supply. This will be accompanied by another unlock from the Oasis Network, where 171 million ROSE tokens will be unleashed and making up for 2.54%. These tokens are worth $15.49 million at current rates.
Weekly Cliff Unlocks : 13 - 19 MAY 24
— Token Unlocks (@Token_Unlocks) May 10, 2024
$ 1.365 b
Highlights Unlocks $AEVO (752.36%) - $1.04b$ARB (3.49%) - $96.44m$STRK (8.79%) - $80.64m$IMX (1.75%) - $56.93m$PIXEL (7.05%) - $21.32m$APE (2.48%) - $19.97m
.
.
( % of cir. supply)
More unlocks pic.twitter.com/afhAIbAwsA
Token unlocks typically involve making additional tokens available for trading or circulation. This increased token supply can potentially lead to a dilution of value if the demand does not keep up with the new supply.
A sudden influx of tokens into the market can put selling pressure on the price, leading to a potential drop in value. Token holders for the above cryptocurrencies may want to brace for volatility ahead of the events.
Cryptocurrency prices FAQs
Token launches like Arbitrum’s ARB airdrop and Optimism OP influence demand and adoption among market participants. Listings on crypto exchanges deepen the liquidity for an asset and add new participants to an asset’s network. This is typically bullish for a digital asset.
A hack is an event in which an attacker captures a large volume of the asset from a DeFi bridge or hot wallet of an exchange or any other crypto platform via exploits, bugs or other methods. The exploiter then transfers these tokens out of the exchange platforms to ultimately sell or swap the assets for other cryptocurrencies or stablecoins. Such events often involve an en masse panic triggering a sell-off in the affected assets.
Macroeconomic events like the US Federal Reserve’s decision on interest rates influence risk assets like Bitcoin, mainly through the direct impact they have on the US Dollar. An increase in interest rate typically negatively influences Bitcoin and altcoin prices, and vice versa. If the US Dollar index declines, risk assets and associated leverage for trading gets cheaper, in turn driving crypto prices higher.
Halvings are typically considered bullish events as they slash the block reward in half for miners, constricting the supply of the asset. At consistent demand if the supply reduces, the asset’s price climbs. This has been observed in Bitcoin and Litecoin.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
![Ethereum has lost its “ultra” sound money status, faces key rectangle resistance hurdle](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Ethereum/Ethereum_Coins_31_03_XtraSmall.jpg)
Ethereum has lost its “ultra” sound money status, faces key rectangle resistance hurdle
Ethereum is up 0.5% on Thursday following a recent analysis showing that the top altcoin lost its "ultra" sound money narrative. Meanwhile, ETH ETFs recorded net inflows for the first time after nine days of consecutive outflows.
![Solana bears dominate market as SunPump has potentially led to less demand for SOL](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Solana/Solana_Crypto_31_XtraSmall.jpg)
Solana bears dominate market as SunPump has potentially led to less demand for SOL
Solana is down 2.5% on Thursday following bearish signals across its funding rate and total fees captured. SOL's weak performance could also be linked to the declining traction seen in its meme coin generation platform Pump.fun.
![AI tokens see narrow gains as Wall Street banks raise price targets on NVDA](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/PEPE/PEPE_coin_2_XtraSmall.jpg)
AI tokens see narrow gains as Wall Street banks raise price targets on NVDA
AI tokens NEAR, ICP, RENDER and TAO briefly traded in the green on Thursday following Wall Street banks' positivity toward Nvidia's earnings report. While a correction followed, these tokens could rally if NVDA meets expectations.
![XRP back above $0.57 even as Ripple traders take $8 million in profits](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/cryptos_XtraSmall.jpg)
XRP back above $0.57 even as Ripple traders take $8 million in profits
Ripple (XRP) traders have consistently taken profits on their holdings in the last two weeks, per Santiment data. Once again, traders have grabbed $8.36 million in profit so far on Thursday. Typically, profit-taking negatively influences the asset as it increases the selling pressure.
![Bitcoin: Will BTC continue its ongoing decline?](https://editorial.fxstreet.com/images/Markets/Currencies/Digital%20Currencies/Bitcoin/bitcoin_5_XtraSmall.jpg)
Bitcoin: Will BTC continue its ongoing decline?
Bitcoin (BTC) trades above $59,000 on Friday, but it has lost 7.5% this week so far after being rejected around the daily resistance of $65,000. The decline is supported by lower demand from the US spot Bitcoin ETFs, which registered a net outflow of $103.8 million, falling Bitcoin's Coinbase Premium Index, and a spike in Network Realized Profit/Loss. However, some investors seem to be taking the chance to buy BTC amid this price dip, as shown by the Exchange Netflow data.
![Moneta Markets review 2024: All you need to know](https://editorial.fxstreet.com/images/IT/Testing/Review/FXSBadgeCertifiedBackg_XtraSmall.png)
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.