Top Cryptocurrency Token Unlocks This Week, Including Pyth Network (PYTH), SUI, and More

Other significant unlocks include $147 million in $MEME tokens on May 3, $105 million in $ARB tokens on May 16, and $83 million in $MERL tokens on May 19. These unlocks have the potential to impact token prices and market sentiment, presenting both challenges and opportunities for investors.

Pyth Network ($PYTH) Unlock: A Potential Entry Point

On May 20, the Pyth Network ($PYTH) plans to unlock $1.26 billion in tokens, which accounts for a staggering 141% of the current market cap. The unlocked tokens will prioritize ecosystem development and rewards, and the $PYTH staking feature has already sparked airdrops from various projects.

According to analyst Alex Wacy, if the price reacts to the unlock, it could present a favorable entry point for acquiring airdrops and profiting from the coin itself. Wacy’s strategy involves buying $PYTH, staking 50% of the tokens, and selling the unstaked 50% once the price doubles.

The remaining coins would be kept in staking for additional income through airdrops, taking advantage of the fact that $PYTH won’t undergo its next unlock until 2025.

Starknet ($STRK) Unlock: Potential for Price Manipulation

However, Wacy believes that holding onto Starknet for the long term might not be advisable due to its massive fully diluted valuation (FDV). Instead, the unlock could be seen as an opportunity to enter the alt season with significant volume, with potential price manipulation similar to what occurred with $APT.

Merlin ($MERL) Unlock: A Project to Watch

Merlin ($MERL) is set to unlock $83 million in tokens on May 19. Wacy has expressed interest in buying $MERL tokens at a more favorable price point, citing the project’s huge total value locked (TVL), strong backing from major investors, and well-designed tokenomics featuring linear vesting.

Wacy believes that Merlin has the potential to demonstrate power during the upcoming altcoin season and could be the next $STX. Although the current price is on a sharp decline, this is a common occurrence. If the price responds to the unlock, Wacy may consider buying more aggressively.

The upcoming token unlocks in May present both challenges and opportunities for the cryptocurrency market. As over $3 billion in tokens are set to be released, investors must stay informed and adapt their strategies accordingly.

While some unlocks, such as $PYTH, may present favorable entry points, others, like $STRK, could be subject to price manipulation. Projects like Merlin ($MERL) show promise and may be worth considering for investment.

Hunting for a small cap coin that could explode 10x? We’ve unveiled a few last week alone.
Get all our future calls by joining our FREE Telegram community.