Over $389 Million Worth of Tokens Are Set to Be Released Between May 5 and May 12, with LAYER Leading

Between May 5 and May 12, over $389 million worth of tokens are set to be released, with LAYER leading the cliff-style unlocks and Solana (SOL) spearheading the linear unlocks.

According to data from Tokenomist, the upcoming unlocks include both cliff-style events, where a large sum of tokens becomes available at a specific time, and linear unlocks, which occur in smaller increments over a set period.

LAYER will lead the cliff-style unlocks with 27.02 million tokens, valued at $86.73 million, entering circulation, while Solana tops the linear unlocks with 465,770 SOL, valued at $67.27 million.

LAYER unlocks $86.73 million worth of tokens

LAYER is setting the pace with the largest cliff-style token launch, as 27.02 million tokens, valued at $86.73 million, are slated for unlock. This tranche represents 12.87% of the total unlock supply for LAYER and is the biggest by value of all token releases during this period.

Hot on LAYER’s heels is ENA, with 171.88 million tokens, valued at $49.52 million, set to be unlocked, boosting its available supply by 3.10% and making it the second largest in value.

SPEC will see a significant addition to its supply with 10 million tokens, valued at $21.30 million, entering circulation. This is a huge 48.51% of SPEC’s unlock supply. The high percentage signifies that a substantial portion of the token’s total unlock will be released, potentially impacting the token’s market condition.

KAS is another project with a large token unlock on the horizon, with 144.64 million tokens, valued at $13.39 million, to be unlocked. However, this is a small 0.55% of the total unlock tokens for KAS.

Other large unlocks include MOVE, with 50 million tokens, valued at $8.45 million (2.00% of unlock supply), and NEON, with 53.91 million tokens, valued at $6.10 million (6.93% of unlock supply).

Together, the six cliff-style unlocks will introduce approximately $185.49 million of tokens into circulation. This constitutes nearly half of the total tokens in value which will be released between May 5 and May 12.

Solana leads linear unlocks

Remaining in the spotlight for the linear token unlock category is Solana (SOL), with 465,770 SOL tokens, valued at $67.27 million, scheduled for gradual release. Despite this substantial dollar value, the unlock is only 0.09% of Solana’s circulating supply.

Worldcoin (WLD) follows as the second-largest linear unlock, with 37.23 million tokens, valued at $34.60 million, set to be released. This is 2.84% of WLD’s circulating supply and is a more substantial portion than Solana’s unlock.

TAO ranks third with just 50,400 tokens, valued at $17.38 million, scheduled for unlock. TIA follows closely with 6.96 million tokens, valued at $16.63 million (1.13% of supply), and Dogecoin (DOGE) will see 96.52 million tokens, valued at $16.53 million (0.06% of supply), unlocked.

Other notable linear unlocks include Avalanche (AVAX), with 700,000 tokens, valued at $13.92 million (0.17% of supply), SUI, with 3.35 million tokens, valued at $10.85 million (0.12% of supply), MORPHO, with 6.80 million tokens, valued at $9.32 million (2.85% of supply), and Polkadot (DOT), with 2.30 million tokens, valued at $9.09 million (0.15% of supply).

IP rounds out the major linear unlocks with 2.32 million tokens, valued at $8.74 million.

Combined, these linear unlocks account for approximately $203.7 million of the total $389 million in token unlocks scheduled for the week.

Less popular unlocks

Apart from the significant token unlocks mentioned, some smaller projects are also anticipating unlocking tokens between May 5-12. These smaller unlocks might not generate a lot of hype in the market but could affect their respective token prices.

Statistics from CoinMarketCap indicate