While Bitcoin continues to surge toward the $100,000 milestone and command the spotlight, the outlook for many altcoins appears far more uncertain.
Despite Ethereum managing to stay in the green this week, most smaller tokens have struggled — and that pressure could soon intensify with a fresh wave of scheduled token unlocks.
Over the coming days, a series of unlock events will release hundreds of millions of dollars worth of tokens into circulation. These events, while routine, often create short-term selling pressure as early investors or teams receive previously locked tokens and may choose to sell.
Of the most significant unlocks, Cheelee (CHEEL) is set to release nearly $54 million on May 10 — about 15% of its total market cap. Similarly, Heroes of Mavia (MAVIA) is preparing to unlock 20% of its supply, which could shake up its relatively small market.
Smaller projects are set for large proportional unlocks. Nereus (NRS) will see nearly half its market cap unlocked on May 11, a move that could trigger significant volatility. Meanwhile, Neon (NEON) and aixbt (AIXBT) are preparing for 20% and 8.5% token releases respectively, both noteworthy considering their modest valuations.
More established projects like Alchemy Pay (ACH) and ChainGPT (CGPT) are also scheduled for token unlocks, though their relative impact may be milder due to the lower percentage of supply being unlocked.
These unlocks come at a delicate time for the altcoin market. Bitcoin’s dominance continues to grow, soaking up liquidity as traders favor the perceived safety of the leading digital asset amid a changing macro environment. With AI-related coins and ecosystem-specific tokens grabbing short bursts of attention, the broader altcoin field remains fragmented and vulnerable to sudden price drops — especially when supply increases abruptly.
As always, investors will be watching how the market reacts to these unlocks. Will the added supply be absorbed quietly, or could it trigger more selloffs in an already shaky landscape? Only time will tell, but as Bitcoin leads the charge, altcoin holders may need to brace for more turbulence ahead.
