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Over $790M worth token unlocks scheduled for May Over $790M worth token unlocks scheduled for May

Over $790M worth token unlocks scheduled for May

Optimism will release the largest amount on May 31 with over $329 million worth of tokens. Avalanche and BitDao follow as second and third.

Over $790M worth token unlocks scheduled for May

Cover art/illustration via CryptoSlate

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There are 21 token unlocks scheduled during May, which will release over $794 million worth of tokens into circulation in total, according to Token Unlocks data.

Optimism (OP) will host the largest unlock worth $329 million, according to the Token Unlocks numbers. Avalanche (AVAX) and BitDAO (BIT) follow with the second and third largest unlocks with $162 million and $92 million, respectively.

The top three

On the last day of the month, OP will release 154,618,822.65 tokens, which comprise 3.6% of the total OP supply. The amount equates to $330,884,280 at the time of writing, which accounts for around 41% of the total value scheduled to unlock.

Three days before the OP unlock, on May 28, AVAX will unlock 1.325% of its total supply, which equates to 9,541,800 tokens. With the current AVAX trading price, the project seems like it will add $163,164,780 worth of tokens into circulation.

The third largest unlock of the month will be held by BIT on May 15. The project will release nearly 2% of its total supply. A total of 187,499,999.36 tokens will be unlocked, which equates to $92,828,062 at the time of writing.

Other unlocks

The first unlock of the month will come from 1inch Network (1INCH) on May 1, and the project will release nearly $10,000 worth of tokens into circulation. NYM (NYM) and JOE (JOE) will unlock on the same day, May 3. NYM will release over 73 million tokens, equating to over $16 million, while JOE will unlock over 108 million daily, worth almost $50 million.

May 5 will see two unlocks from Liquity (LQTY) and Galxe (GAL) worth over $1.1 million and $13.2 million, respectively. On May 7, Tornado Cash (TORN) will unlock 1.75% of its total supply — equating to 175,000 tokens that are currently worth over $1 million.

GMX (GMX) and dYdX (DYDX) scheduled their unlocks on May 9. GMX’s unlock period will release over $28,000 worth of tokens daily, while DYDX will unlock over 6 million tokens currently valued at over $16 million.

Euler (EUL), MoonBeam (GLMR), Aptos (APT), and Sweat Economy (SWEAT) will hold their unlocks on May 10, 11, 12, and 13, respectively. EUL will unlock over $300,000, while GLMR will release over $70,000 worth of tokens daily until it adds up to over $4 million. APT and SWEAT will release over $46 million and $1 million worth of tokens, respectively.

On May 17 and 18, ApeCoin (APE) and Oasis Network (ROSE) are expected to unlock over $60 million and $12 million worth of tokens, respectively. Immutable X (IMX) will release over 18 million tokens on May 20, which equates to over $17 million at the time of writing.

Acala (ACA) will release another $405,783 worth of tokens on May 25, while Ronin (RON) and Yield Guild Games (YGG) are set to unlock over $14 million and $3 million worth of tokens on May 27, respectively.