You Might Be Interested In These Major Token Unlocks Next Week
Token unlock involves releasing tokens previously blocked under fundraising terms, carefully scheduled to prevent market pressure and price drops. Various factors impact asset dynamics, including liquidity and early investor profit-taking. Here are five significant token unlocks to keep an eye on next week:
Optimism (OP) Token Unlock
- Unlock date: May 31
- Number of tokens unlocked: 31.34 million OP
- Current circulating supply: 1.08 billion OP
Optimism, a Layer-2 scaling solution for the Ethereum mainnet, aims to enhance transaction speed and reduce costs. The OP token enables holders to govern the Optimism ecosystem through voting on proposals. On May 31, over 30 million OP tokens will be added to circulation, benefiting investors and core contributors.
1inch (1INCH) Token Unlock
- Unlock date: June 1
- Number of tokens unlocked: 98.7 million 1INCH
- Current circulating supply: 1.15 billion 1INCH
1inch, a decentralized exchange aggregator, sources liquidity from multiple DEXs to offer users optimal trading rates. The upcoming unlock on June 1 involves releasing nearly 100 million tokens, allocated to developers, early investors, and venture capital funds.
dYdX (DYDX) Token Unlock
- Unlock date: June 1
- Number of tokens unlocked: 33.33 million DYDX
- Current circulating supply: 279.8 million DYDX
dYdX, the largest decentralized perpetual futures trading protocol, announced changes to its tokenomics earlier this year. The majority of DYDX tokens unlocked on June 1 will be distributed to investors and the project team, with some reserved for future employees.
Sui (SUI) Token Unlock
- Unlock date: June 1
- Number of tokens unlocked: 65.08 million SUI
- Current circulating supply: 2.33 billion SUI
Sui, a high-performance Layer-1 blockchain utilizing a Proof-of-Stake consensus algorithm, empowers token holders to vote on essential proposals. The upcoming unlock on June 1 will release a significant portion of tokens for Series A and B participants, the community reserve, and the Mysten Labs treasury.
Ethena (ENA) Token Unlock
- Unlock date: June 1
- Number of tokens unlocked: 53.6 million ENA
- Current circulating supply: 1.47 billion ENA
Ethena, a synthetic currency protocol on Ethereum, provides users with alternative financial solutions like the ‘Internet Bond.’ The ENA token allows holders to participate in governance decisions, and on June 1, over 50 million ENA tokens will be unlocked for ecosystem development.
Other notable unlocks next week include Yield Guild Games (YGG), SingularityNET (AGIX), Echelon Prime (PRIME), Manta Network (MANTA), and Acala (ACA), collectively exceeding $380 million in released tokens. Despite sometimes being viewed as bearish, well-planned token unlocks align with project milestones, fostering team motivation, community engagement, and ecosystem growth.
Hot Take: Key Takeaways on Token Unlocks
Token unlocks play a crucial role in a project’s evolution and can impact market dynamics significantly. As you monitor upcoming token unlocks, remember:
Stay informed about the token unlock schedules of your favorite projects to anticipate potential market shifts.
Consider how token unlocks align with project milestones and development progress to gauge their impact accurately.
Stay engaged with project communities to understand the implications of token unlocks on governance and ecosystem growth.
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