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The cryptocurrency market is facing supply-side pressure as tokens worth over $81.9 million are set to be unlocked from May 5 to May 11, 2025. According to blockchain analytics firm Tokenomist, ENA tops the list with the largest unlock by volume. The project will release tokens worth $55.79 million, representing 3.1% of its circulating supply.

According to data, the unlock scheduled for May 5 makes it the most significant single-day release of the week. The tokens are intended for both the founding team and private investors, with 6.61% of the total ENA tokens being unlocked.

SPEC follows with an unlock of $15.42 million scheduled for May 6, but what makes this event particularly notable is that it represents 42.5% of the token's circulating supply. Nearly half of all traded SPEC tokens will reach potential liquidity in a single event. Data indicates that 4.12% of SPEC tokens will be unlocked during this release.

The third-largest unlock by value comes from CFG, with a token release worth $676,280 (0.87% of the circulation) also scheduled for May 6. The calendar also includes several medium-sized unlocks, including NEON for $3.33 million (10.83% of the circulation), scheduled for May 7, and GGP for $2.41 million (9.8% of the circulation) on May 8.

Other notable unlocks include AGI on May 11 with $2.35 million (2.1% of the circulation), MAVIA on May 8 with $1.41 million (10.75% of the circulation), and DEVVE on May 10 with $582,380 (0.95% of the circulation). The AGI unlock is primarily intended for private investors, with 44.89% of the tokens being unlocked.

Large unlocks increase pressure on the market

Token unlocks are significant events for cryptocurrency traders and investors as they typically create clear sell pressure patterns. When founding teams and early private investors gain access to tokens that were previously locked, some of these tokens hit the market as early supporters attempt to take profits or adjust their portfolios.

Projects with a high percentage of token unlocks, such as SPEC with 42.5%, will directly impact the market, and even small unlocks of liquid tokens will also affect their trading pairs.

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