Unlocking Season: Deep Analysis of Seven Major Token Unlocks This Week

The Arrival of Unlocking Season: The Importance of Observing Token Unlocks

According to data from the token unlock observatory, “Token Unlocks“, a large number of tokens are set to be unlocked this week. From the end of May to the beginning of June, seven tokens are scheduled for unlocking, including: Galxe (GAL), Optimism (OP), Hedera (HBAR), Acala (ACA), 1inch (1INCH), Nym (NYM), and Sui (SUI). The total amount of these tokens to be unlocked is approximately $420 million.

Optimism (OP): A Layer 2 Solution for Ethereum

Optimism is a Layer 2 scaling solution for Ethereum, aiming to address the scalability issues of the Ethereum network. Its unlocking will have a significant impact on the market.

Optimism once ignited a token airdrop craze when it issued tokens in April last year. Coinbase also announced the launch of the Layer 2 blockchain network “Base” based on OP’s open source code (Optimism Stack) earlier this year.

The total initial supply of OP tokens is 4,294,967,296, growing at a token inflation rate of 2% per year. May 31 will usher in unlocking, with a total of 154,618,822.65 OP unlocked, with a total value of about 255 million U.S. dollars, accounting for about 3.6% of the total supply. In addition, this unlocking mainly comes from core contributors and early investors with 1.9% and 1.7% respectively.

（Image via Token Unlock）

Hedera (HBAR): Public Distributed Ledger Technology

Hedera is a new type of public distributed ledger technology that aims to provide fast, fair, and secure network services. Its unlocking will contribute to wider applications of this technology.

On June 1st, HBAR will be unlocked, and there will be a total of 1,273,353,491 coins, worth about $68.38 million, accounting for 2.547% of the total supply.

（Image via Token Unlock）

1inch (1INCH): A Decentralized Exchange Platform

1inch is a decentralized exchange platform that offers users the ability to trade without the need to trust any centralized entities. Its unlocking will further enhance its competitive position in the market.

On June 2, 1INCH will usher in unlocking. There will be a total of 249,807,669.19 tokens, worth about 101 million US dollars, accounting for 16.654% of the total supply, and it is also the token with the largest total supply in the unlocking this week. It is worth mentioning that 16.654% of this unlocking comes from early investors and VC, which may usher in large-scale selling pressure.

（Image via Token Unlock）

Sui (SUI): A Decentralized Financial Platform

Sui is a decentralized financial platform aimed at providing more transparent and fair financial services. Its unlocking will help to promote the development of decentralized finance.

On June 2, Sui will be unlocked, and there will be a total of 61,083,333.36 pieces, worth about 64.93 million US dollars. Although this unlocking only accounts for 0.611% of the total supply, the current circulation of tokens is less than 6%, so we still need to pay attention to whether it will cause selling pressure.

（Image via Token Unlock）

Challenges and Opportunities in the Crypto Market

With the unlocking of a large number of tokens, the market will face new challenges and opportunities. Entering the unlocking season, we should stay calm, observe, and adjust our investment strategies based on market changes.

Keywords: Token Unlocks, Galxe, Optimism, Hedera, Acala, 1inch, Nym, Sui, DigiFinex