This week, several major tokens are scheduled for unlock events. Token unlocks usually mean more coins enter the market, which can create selling pressure. When a large amount of tokens are unlocked at once, prices can fall if investors decide to sell.
Here are five important token unlocks that traders and investors should watch carefully.
1. SUI: $274.52 Million Token Unlock on May 1
Sui (SUI) will see the biggest unlock this week. It is a Layer-1 blockchain which aims to power decentralized applications (dApps) and games at a large scale. It uses a parallel transaction processing model to achieve high performance.
The team will release about 74 million SUI tokens, worth $274.52 million, on May 1. This represents about 2.28% of the circulating supply. Only 33% of SUI tokens are currently in circulation. A large portion, over 5.22 billion SUI, is still locked and will come to market later.
SUI’s unlock could add strong selling pressure if many holders decide to cash out. Can SUI Survive this Selling Pressure? Read the analysis here.
2. OMNI: $41.23 Million Unlock on May 2
Omni Network is a blockchain protocol which focuses on enabling cross-chain communication between different Layer-2 networks. It aims to allow Ethereum rollups and other chains to exchange information and assets.
Omni Network (OMNI) will unlock about 15.98 million tokens on May 2. The value of this unlock is around $41.23 million. This release will add 83.51% of OMNI’s circulating supply at once, making it one of the riskiest unlocks this week. Currently, only 10% of OMNI’s supply is in circulation. Such a big unlock could lead to major price swings and strong selling pressure.
3. OP: $25.04 Million Token Unlock on April 30
Optimism is a Ethereum Layer-2 scaling solution that uses Optimistic Rollups to lower fees and speed up transactions on the Ethereum network. It aims to make blockchain applications cheaper and faster without sacrificing security.
Optimism (OP) will unlock around $25.04 million worth of tokens on April 30. This release represents approximately 1.9% of its circulating supply. These tokens value is about $25.04 million. The upcoming unlock will primarily impact allocations designated for investors and core contributors. OP’s total supply unlock status shows 35% already in circulation, with 2.09 billion OP still locked under various allocations.
Although OP has decent liquidity, this unlock could add mild downward pressure if market sentiment weakens.
4. ZETA: $11.50 Million Unlock on May 1
ZetaChain is an omnichain smart contract platform designed to enable interoperability between any blockchain, including Bitcoin and Ethereum, without wrapping tokens. It allows developers to create dApps that work across chains natively.
ZetaChain (ZETA) will unlock around 44.26 million tokens worth $11.50 million on May 1.
This accounts for 5.67% of its circulating supply. The unlocked tokens come from different allocations, including user growth pools, liquidity incentives, and core contributors. ZETA’s unlock size is moderate, but the 5.67% release relative to its circulating supply could still impact price if demand weakens during the event.
5. ENA: $14.49 Million Token Unlock on May 2
Ethena is a decentralized finance (DeFi) platform which focuses on creating “internet bonds” — synthetic yield-bearing instruments designed to bring stable income products to crypto markets. It aims to offer more accessible financial products using blockchain.
Ethena (ENA) will unlock about 40.63 million tokens, valued at $14.49 million, on May 2. This represents 0.73% of its circulating supply.
Moreover, unlike other tokens, ENA has been gradually unlocking a large portion of its supply. Currently, 37% of ENA’s supply is already in circulation.
Notably, since this unlock is smaller compared to others, the price impact might be less unless market liquidity is low.