This week, various tokens including #APT , #ARB , and #AVAX will undergo unlocking. Coinank data shows the unlocking values ranked as follows:

Aptos (APT) will unlock approximately 11.31 million tokens at 2:00 AM on May 13, accounting for 1.82% of the current circulating supply, valued at about 67.5 million USD.

Arbitrum (ARB) will unlock approximately 92.65 million tokens at 9:00 PM on May 16, accounting for 1.95% of the current circulating supply, valued at about 42.7 million USD.

Avalanche (AVAX) will unlock approximately 1.67 million tokens at 8:00 AM on May 17, accounting for 0.4% of the current circulating supply, valued at about 41.3 million USD.

Starknet (#strk ) will unlock approximately 127 million tokens at 8:00 AM on May 15, accounting for 4.09% of the current circulating supply, valued at about 23 million USD.

Immutable (#IMX ) will unlock approximately 24.52 million tokens at 8:00 AM on May 16, accounting for 1.35% of the current circulating supply, valued at about 17.9 million USD.

The concentrated unlocking of multiple project tokens this week may have a significant impact on market supply and demand and price fluctuations. Key points are as follows:

APT has the largest unlocking scale but a lower dilution in circulation. Although the unlocking amount for APT reaches 67.5 million USD, it only accounts for 1.82% of the circulating supply, resulting in a limited dilution effect compared to other projects. Historical data shows that the APT team tends to release positive information before unlocking to hedge against selling pressure, which may alleviate short-term price downside risks. However, its long-term unlocking plan still raises concerns, and attention needs to be paid to subsequent market absorption capacity.

The high unlocking risk of STRK and MELANIA is prominent. The unlocks of STRK and MELANIA account for 4.09% and 6.63% of the circulating supply, significantly higher than other projects. STRK's unlocking in August 2024 previously led to a 12% price drop in one week, and similar fluctuations should be monitored this time. As a meme token, MELANIA has strong speculative attributes within the community, and a high proportion of unlocking may exacerbate price volatility.

Market strategies diverge in response to selling pressure. For low proportion projects like AVAX (0.4% circulating supply) and ARB (1.95%), the market impact is relatively controllable. However, historical data for ARB shows an average decline of 8% within 30 days after unlocking. Some projects may mitigate selling pressure through over-the-counter (OTC) transactions or leverage ecological progress to hedge against liquidity shocks.

Overall, large-scale unlockings pose a test for the market's short-term liquidity, but the market capitalization management strategies of project parties and market sentiment will dominate the actual impact. We need to pay attention to the on-chain data changes and project dynamics before and after the unlocking to assess the true risk exposure.