Between May 4 and May 11, the crypto market will experience a significant wave of token unlocks worth over $229 million, according to Tokenomist data cited by WuBlockchain. Cliff unlocks and linear releases are set to inject fresh supply into circulation, potentially impacting prices.
Leading the cliff unlocks are Hyperliquid – HYPE and Ethena – ENA, which together will add over $34 million in tokens. Hyperliquid is releasing 422,000 HYPE tokens valued at roughly $17.51 million, representing a mere 0.11% of its adjusted released supply. Meanwhile, Ethena will unlock 171.88 million ENA tokens worth about $17.28 million, accounting for 2.12% of its adjusted released supply.
Other notable cliff unlocks include Space and Time – SXT, RedStone – RED, and Opinion – OPN. SXT sees 387.64 million tokens worth $5.96 million hitting the market, making up 23.20% of its adjusted released supply—the highest ratio among the cliff unlocks. RED will release 40.85 million tokens valued at $5.54 million (12.20% of supply), while OPN unlocks 32.09 million tokens worth $5.45 million (12.22% of supply).
Linear unlocks also add pressure. Rain – RAIN leads with a massive release of 10.47 billion tokens worth $78.39 million, equivalent to 2.19% of circulating supply. Solana – SOL follows with 464,650 SOL valued at $38.90 million, though this represents only 0.08% of its circulating supply. Corn – CC unlocks 191.71 million tokens worth $28.36 million (0.50% of supply), TRUMP releases 6.33 million tokens worth $14.75 million (2.72% of supply), Worldcoin – WLD unlocks 37.23 million tokens worth $9.70 million, and Bittensor – TAO releases 25,200 tokens worth $7.29 million.
Traders closely monitor these events as increased supply can create short-term selling pressure if demand fails to keep pace. The high supply ratios for SXT, RED, and OPN particularly draw attention to potential price volatility in the coming days.