Data from TokenUnlocks indicates that there are significant crypto token unlock events scheduled for the upcoming days. These events have a history of impacting cryptocurrency prices by increasing the assets in circulation, leading to selling pressure.

Keep an Eye on Next Week's Token Unlock Events

A substantial unlock event is anticipated on May 3, with over 5.31 billion MEME tokens set to be released, valued at $155.98 million, making up 31.97% of the circulating supply. The unlocked tokens will be distributed through various channels including community airdrops, to advisors, and investors. Additionally, starting from May 3, there will be a daily linear unlocking of 49.47 million MEME tokens, worth $1.45 million.

In another significant event, the dYdX ecosystem will unlock 33.33 million DYDX tokens on May 1, with a value of $73.33 million, constituting 10.72% of the existing circulating supply. These tokens are intended for distribution among founders, employees, future employees, and advisors.

Progress continues on the Ethereum Layer-2 (L2) network Optimism. On April 29, an unlock worth $58.47 million will distribute 24.16 million OP tokens to core participants and investors. Echelon Prime will unlock 1.66 million PRIME tokens on April 30, valued at $30.03 million, making up 4.43% of the circulating supply. Additionally, the Sui ecosystem will unlock 4 million SUI tokens worth $4.88 million, and Manta Network will release 1.87 MANTA tokens valued at $3.40 million.

Ethena, a prominent token, will also unlock tokens valued at $46.71 million, accounting for 3.76% of the circulating tokens.

Upcoming Unlock Events in the Near Future

On April 27, Yield Guild Games ecosystem is set to unlock 16.69 million YGG tokens valued at $15.12 million, releasing 4.57% of its circulating supply into the market. The following day, on April 28, SingularityNET, an artificial intelligence crypto ecosystem, will unlock 8.84 million AGIX tokens, with a value of $8.32 million, marking 0.69% of circulating tokens.

The market is predicted to be impacted by these unlock events in the upcoming days, potentially leading to price drops if adequate market volume is not maintained. Check back for more updates on token unlock events.

This information was originally published on COINTURK NEWS.