Investors who focus on token unlock dates can make huge profits. In this event, known as the ‘token unlock’, altcoins locked for a set time are now released. In this article, you can find the planned token unlock dates for the coming days.
Optimism (OP) prepares for biggest unlock of the month with $324M
First up, Optimism (OP) is gearing up for one of the biggest unlocks of the month. The date, quantity and percentage of supply are as follows:
- Unlock date: May 30.
- Unlock amount: $324 million.
- % of supply: 3.6% of total supply.
Today is a major milestone for decentralized identity in the Optimism ecosystem: the AttestationStation has been upgraded to the EAS standard, giving developers one common standard for issuing & reading attestations that interoperate across the ecosystem.https://t.co/rj6jS3D3v6
— OP Labs (@OPLabsPBC) May 4, 2023
Before we continue, let’s take a look at what’s been happening lately. For example, at the beginning of May, these altcoins completed the biggest unlocks:
- 1INCH released a small coin under $32,000 on May 2.
- NYM unlocked $15.2 million on May 2.
- GMX released $52,000 daily in linear unlock on May 8.
How did altcoin prices react after unlocking?
We can see the 1INCH price drop slightly from $0.46 to $0.44 after the token unlock and almost back to $0.46 again. It basically had no effect on its effectiveness. Likewise in Nym, it continued to move horizontally after unlock.
On the other hand, GMX is facing a small downward price pressure. But remember, they unlock linearly every week. So that means they unlock both profitable and unprofitable trading weeks.
Here are the token unlock dates for May: AVAX, APE, IMX in the list
aptos (APT)
- Date: 11 May.
- Unlock amount: $44.7 million
- Percentage of total supply: 0.5%
BitDAO (BIT)
- Date: May 15th.
- Unlock amount: $90 million.
- Percentage of total supply: 2%
Hedera (HBAR)
- Date: May 31st.
- Unlock amount: $74 million.
- Percentage of total supply: 2.5%
Top 7 Upcoming Token Unlocks in May
The tokens of the following projects with the highest unlock amount will be unlocked in May: $OP ($324.7M), $AVAX ($158.5M), $BIT ($90.2M), $APE ($60M), $APT ($44.8M), $IMX ($16.9M), $GAL ($12.9M).
👉https://t.co/AgXao7y3eB pic.twitter.com/XolE3BG4vV
— CryptoRank Platform (@CryptoRank_io) May 2, 2023
Avalanche (AVAX)
- Date: May 27.
- Unlock amount: $159 million.
- Percentage of total supply: 1.3%
Apecoin (APE)
- Date: May 16.
- Unlock amount: $59.9 million.
- Percentage of total supply: 1.6%
ImmutableX (IMX)
- Date: 20 May
- Unlock amount: $16.8 million.
- Percentage of total supply: 0.9%
DyDx (DYDX)
- Date: May 9th.
- Unlock amount: $15.8 million.
- Percentage of total supply: 0.7%
Ronin (RON)
- Date: May 26.
- Unlock amount: $14.1 million.
- Percentage of total supply: 1.5%
Oasis Network (ROSE)
- Date: May 18
- Unlock amount: $11.8 million
- Percentage of total supply: 2.0%.
Trader Joe (JOE)
- Date: May 2nd.
- Unlock amount: Daily unlock amount decreased from $56,000 per day to $46,800 per day.
- Percentage of total supply: Less than 3% of total supply is still locked.
How to get unlocks dates altcoin positions
First, how do you play token unlock dates? Conventional wisdom says that increased selling pressure means the price of the token will fall. But that doesn’t always happen. But if it opens, you can follow the 3 strategies below.
- First, sell at the highest level before or a week or two before unlocking, and then wait to buy back.
- Second, wait and buy after unlocking. This strategy can also be applied if you do not have a position in the altcoin going to unlock. Thus, you can buy a project you like at a discount. Others may become short- or medium-term investment opportunities with a good entry price.
- Finally, consider token unlock dates as short positions. However, this is a very aggressive strategy. Only experienced investors should do this. However, after unlocking you can buy it back cheaper and make a profit.
- cryptocoin.comWe include the token unlock dates on this page.
