Seven major projects, along with the money they are free to sell to insiders and the market, will have significant token unlocks during May 5 to May 11. The data for total tokens to be unlocked was provided by CryptoRank.io, revealed that total value is over $100 million. These unlocks are expected to affect circulating supply and kicking off market activity.
Token Unlocks, Key Token Unlocks, and Market Value
ENS’s upcoming unlocks headlined by Ethena ($ENA), 171.85 million tokens are set to unlock on May 5. It accounts for 1.15% of its total supply which is worth roughly $50.30 million. Unlock accounts for 2.95% of ENA’s market capitalization, which is $4.37bn.
Jito Labs($JTO), follows with an unlock worth $18.31 million worth of tokens using 71.11 million $JTO (1.13% of the total supply). As a result, the circulating supply of $JTO will increase by 3.49% its market cap. $JTO is planning to unlock on May 7, with its present $1.62 billion fully diluted market cap.
On May 6, Spectral ($SPEC) will unlock 6 million tokens worth 6% of the total supply and valued at $11.69 million. With 29.2%, it represents the largest percentage of market cap unlocked amongst the listed tokens. At $193 million, $SPEC has the smallest fully diluted valuation in the group.
Additional Unlocks Across the Market
On May 9, Movement ($MOVE) will mint and set free 50 million tokens, constituting 0.50% of its total supply and with a value of $8.46 million. On May 7, Neon ($NEON) will unlock 53.91 million its tokens, or 5.39% of its supply, bringing in fresh liquidity worth $6.41 million in tokens to the market. The market cap is $118 million, and the unlock ratio is 22.5%.
Additionally, there will be unlocks on Galxe ($GAL) and Delysium ($AGI) this week. On May 5th, $GAL will launch 5.18 million tokens worth $4.51 million. On May 11, AGI will unlock 66.48 million of tokens, priced at $4.14 million or 2.22% of total supply.
