Connex (CONX) and Fasttoken (FTN) lead $774 million token unlocks this week

Token unlocks valued at over $774 million are set to be released between May 12 and May 19, according to data compiled by Tokenomist.

The upcoming unlocks include both cliff-style events, where large amounts of tokens become available at once, and linear unlocks that release tokens gradually over time. Connex (CONX) and Fasttoken (FTN) will lead the cliff-style unlocks with tokens worth $94.6 million and $87.2 million respectively.

Connex leads with $94.6 million token unlock

Connex (CONX) tops the list of upcoming cliff-style token unlocks with 4.33 million tokens valued at $94.6 million scheduled for release between May 12 and May 19. This substantial unlock represents 6.93% of CONX’s unlock supply.

Fasttoken (FTN) follows closely with 20 million tokens worth $87.2 million set to be released. This is 2.27% of its unlock supply. Aptos (APT) ranks third with 11.31 million tokens valued at $66.84 million (2.41% of unlock supply), while Arbitrum (ARB) will see 92.65 million tokens worth $42.14 million (1.95% of supply) unlocked.

Other major cliff-style unlocks include Avalanche (AVAX) with 1.67 million tokens worth $41.39 million (0.34% of unlock supply), ZKJ with 15.53 million tokens valued at $33.85 million (5.30% of supply). STRK follows with 127 million tokens worth $22.99 million (7.86% of unlock supply).

The list continues with IMX (24.52 million tokens, $17.74 million), SEI (55.56 million tokens, $14.50 million), APE (15.60 million tokens, $10.50 million), and MELANIA (26.25 million tokens, $10.30 million). Rounding out the cliff unlocks are BB (42.98 million tokens, $7.18 million), CYBER (4.23 million tokens, $6.77 million), and XCN (296.38 million tokens, $5.32 million). These cliff-style unlocks will release tokens valued at approximately $461 million into the market.

Solana leads in linear unlocks

The number one future linear token unlocks is Solana (SOL), with 465,770 SOL worth $81.84 million unlocked incrementally starting from May 12 through May 19. While this is a huge dollar amount, the unlock consists of just 0.09% of Solana’s circulating supply.

Worldcoin (WLD) enters as the second-largest linear unlock, with 37.23 million tokens worth $48.02 million to be unlocked. That is 2.69% of WLD’s circulating supply and a higher percentage than Solana’s unlock.

Dogecoin (DOGE) will witness 96.52 million tokens worth $22.75 million released. That is, however, negligible at merely 0.06% of supply. TAO is next with 50,400 tokens worth $23.83 million (0.59% of supply), with TIA to have 6.96 million tokens worth $22.48 million (1.10% of supply).

Avalanche (AVAX) is on both lists too, with an additional linear unlock of 700,000 tokens worth $17.38 million (0.17% supply). Other notable linear unlocks include SUI (3.35 million tokens, $13.53 million), DOT (2.30 million tokens, $11.78 million), IP (2.32 million tokens, $11.04 million), and MORPHO (6.80 million tokens, $11.01 million).

The remaining tokens with linear releases over $5 million are ETHFI, JTO, ENS, NEAR, and SEI. These linear unlocks collectively represent about $313 million of the $774 million tokens released that week.

Less common unlocks

In addition to the significant token unlocks, various small projects also prepare to unveil tokens within the May 12 to May 19 period. Data from CoinMarketCap shows that BounceBit (BB) tops the list of small unlocks with significant volume. BounceBit’s advancement towards unlocking 24.91% with the subsequent unlock releasing 48.53 million BB tokens worth about $8.47 million. This represents 2.31% of the locked tokens.

Other smaller projects with upcoming unlocks include Kingdom of Ants (ANTC), which has completed 92.00% of its unlocks with 1 million ANTC tokens worth about $2,090 (1.00% of total locked) set to be released next. PairedWorld ($PAIRED) has an unlock progress of 32.27%, with 14.79 million PAIRED tokens worth $14,783 (1.48% of total locked) scheduled for release.

DappRadar (RADAR) shows 63.97% unlock progress with 189.35 million RADAR tokens worth $529,801 (1.89% of total locked) upcoming, while Games for a Living (GFAL) has 53.07% unlock progress with 114.73 million GFAL tokens worth $634,995 (1.15% of total locked) scheduled for release.

KEY Difference Wire helps crypto brands break through and dominate headlines fast