Crypto Market Braces for Significant Token Unlocks Next Week, April 28th through May 4th, with over $183.4M of Tokens Scheduled for Release

The crypto market is bracing for significant token unlocks next week, April 28th through May 4th, with over $183.4 million worth of tokens scheduled for release

As April 28th approaches, the crypto market is preparing for a wave of significant token unlocks, with over $183.4 million worth of tokens scheduled for release by May 4th, according to Tokenomist data. Among the must-watch projects are Sui ($SUI), Omni Network ($OMNI), and Optimism ($OP), which together account for more than $160 million of these unlocks.

These events often introduce selling pressure and are closely tracked by investors seeking potential price action or trend shifts. A number of the unlocked tokens have also shown strong market performance leading up to the unlock, adding another layer of interest as to how prices might respond post-event.

Major Unlocks: SUI, OMNI, OP Face Potential Volatility

After a remarkable rally that saw it gain 17.63% in the past 24 hours and 69.20% over the past week, Sui ($SUI) continues its upward trajectory. The token is currently trading at $3.58 following a surge in trading volume to $3.49 billion.

With a circulating supply of 3.2 billion tokens and a market capitalization of $11.6 billion, SUI is displaying strength in both price and liquidity. However, investors are keeping an eye on the upcoming unlock of 0.90% of SUI’s circulating supply, amounting to $99.03 million.

Omni Network ($OMNI) presents a different picture, facing a notably high unlock relative to its current supply – $37.31 million worth, which is 78.94% of its circulating tokens.

Despite this large pending supply increase, OMNI’s price has remained stagnant at $1.30 with no noteworthy 24-hour change but a 34.02% rise over the past week. The project has a small circulating supply of 620,000 tokens and a market cap of $804,122. Its 24-hour trading volume is limited at just $237, highlighting illiquidity concerns.

Optimism ($OP) will unlock $24.78 million worth of tokens, rendering 1.89% of its circulating supply. OP is trading at $0.8053 after gaining 6.07% in the past 24 hours and 24.34% this week. It has a 1.7 billion token supply and a $1.32 billion market cap, supported by a decent daily trading volume of $136 million.

Mid-Tier Unlocks: REZ, DYDX, KMNO Also Releasing Supply

Renzo ($REZ) and dYdX ($DYDX) are unlocking $5.51 million and $5.37 million worth of tokens respectively. REZ represents 14.80% of its supply and is trading at $0.01548, up 16.47% daily and 27.95% weekly. Its trading volume stands at $30.36 million.

dYdX unlocks 1.09% of supply and is now priced at $0.6663. It gained 5.73% over the last day and 17.38% over the week.

Kamino ($KMNO), unlocking $4.74 million or 6.17% of its supply, has seen a slight decline of 2.36% in the past 24 hours. It trades at $0.05771 with $6.67 million in daily volume, still reflecting a 15.54% increase over the past week.