A total of $621.66 million worth of tokens will be unlocked in the cryptocurrency market this week, between May 4-11. According to the data shared by CoinGecko; While big projects take the lion’s share of these key expansions, Hyperliquid is at the top of the list. Hyperliquid, which has important rankings in the cryptocurrency world, provides services on decentralized finance (DeFi) protocols and liquidity pools. The platform is especially known for its innovative trading solutions and has reached a significant user base in a short time.
The biggest unlock is from Hyperliquid
The most striking development of the week was the 416.01 million dollar cliff, that is, the sudden token lock opening, to be carried out by Hyperliquid (HYPE). This means 67 percent of the current week’s total openings. Cliff-type expansions are released en masse after a predetermined period of time and can have an impact on the supply in the market in a short time.
It was announced that tokens worth $621.66 million will be opened this week. The total cliff lock opening is at the level of 178.29 million dollars: HYPE stands out on the list with 416.01 million dollars, ENA with 18.11 million dollars, SXT with 6.13 million dollars, RED with 5.76 million dollars and OPN with 5.56 million dollars. In addition, part of the distribution includes projects such as LINEA, BABY and LAYER, which are slowly unlocked over time (linear unlock).
Ethena (ENA) ranks second in the Cliff opening amount and constitutes 1.96 percent of the total supply with an opening of 18.11 million dollars. Another prominent opening of the week will be on Space and Time (SXT) with $6.13 million and a rate of 14.92 percent. Among medium-sized projects, SXT had the highest opening rate. RedStone (RED) stands out with $5.76 million and 10.92 percent, while Opinion (OPN) draws attention with $5.56 million and 22.59 percent.
Also during the week, Linea (LINEA) will release tokens worth $4.98 million, Babylon (BABY) will release tokens worth $2.80 million, and Solayer (LAYER) will release tokens worth $2.30 million. Io.net (IO) will open a cliff lock of $1.61 million, and Magic Eden (ME) will open a cliff lock of $1.12 million.
Lock openings continue in small projects as well
CoinMarketCap data shows that there is also a significant amount of token unlocks in lesser-known ventures outside of headline projects. REVOX (REX) will release 34.38 million tokens in the upcoming expansion. This amount is worth $1,712.66 and represents 1.15 percent of the current locked supply. Distribution progress at REVOX has reached 68.44 percent.
Drift (DRIFT), on the other hand, will release 13.16 million tokens worth $516,502.81 and 1.32 percent of the total locked supply. The rate of tokens opened in Drift so far has been recorded as 18.58 percent.
Latest situation in SLIMEX, Sipher and MattleFun
SLIMEX (SLX) is planning an opening with 145.83 million tokens valued at $250,170.18, corresponding to 1.46 percent of the overall locked supply. To date, the opening rate in SLX has reached 24.90 percent.
In its next expansion, SIPHER will release 15,070,000 tokens and a share worth $110,921.37. This distribution amounts to 1.51 percent of locked tokens. The total expansion rate in SIPHER reached 46.96 percent. The current expansion of MattleFun (MATTLE) is 1,110,000 tokens and worth $ 11,163.58; This corresponds to 2.22 percent of the total lock.
In the grand scheme of things, although this week’s token expansions are spread across different projects and systems, Hyperliquid’s cliff lock is nearly seven times larger than any other major expansion, totaling $473.29 million.
