10 Largest Token Unlocks in May: WBT, SUI, and PYTH Lead $4.4B in Releases

A significant wave of token unlocks is set to hit the cryptocurrency market in May 2025, with over $4.4 billion worth of tokens scheduled to be released across various projects. According to data from CryptoRank, the top 10 token unlocks for the month include major players like Sui (SUI), Pyth Network (PYTH), and Arbitrum (ARB), with releases spanning from May 1 to May 20. Here’s a detailed breakdown of the largest token unlocks.

Source: CryptoRank

As shown in CryptoRank’s chart, these unlocks could introduce volatility, with dollar amounts based on April 29 market prices.

Below is a detailed breakdown of the top 10 releases.

Sui (SUI)

• Date: 1 May

• Tokens to be Unlocked: 88.34 million tokens (2.71% of Market Cap)

• Unlock Amount: $334.63M

Ethena (ENA)

• Date: 2 May

• Tokens to be Unlocked: 94.19 million tokens (1.70% of Market Cap)

• Unlock Amount: $33.45M

Jito Labs (JTO)

• Date: 7 May

• Tokens to be Unlocked: 11.31 million tokens (3.50% of Market Cap)

• Unlock Amount: $20.49M

Aptos (APT)

• Date: 12 May

• Tokens to be Unlocked: 11.31 million tokens (1.83% of Market Cap)

• Unlock Amount: $63.72M

WhiteBIT Coin (WBT)

• Date: 13 May

• Tokens to be Unlocked: 39.49 million tokens (27.4% of Market Cap)

• Unlock Amount: $1.16B

StarkNet (STRK)

• Date: 15 May

• Tokens to be Unlocked: 127.60 million tokens (4.39% of Circulating Supply)

• Unlock Amount: $19.41M

Arbitrum (ARB)

• Date: 16 May

• Tokens to be Unlocked: 92.63 million tokens (1.95% of Circulating Supply)

• Unlock Amount: $31.88M

Polyhedra (ZKJ)

• Date: 19 May

• Tokens to be Unlocked: 15.50 million tokens (25.7% of Circulating Supply)

• Unlock Amount: $33.41M

Saros (SAROS)

• Date: 19 May

• Tokens to be Unlocked: 213.93 million tokens (8.15% of Circulating Supply)

• Unlock Amount: $28.20M

Pyth Network (PYTH)

• Date: 20 May

• Tokens to be Unlocked: 2.13 billion tokens (58.3% of Circulating Supply)

• Unlock Amount: $333.86M

Token unlocks often introduce volatility as newly released tokens enter circulation, with specific changes depending on market sentiment and selling pressure. Projects with robust ecosystems, like Arbitrum and Sui, may weather the supply increase more effectively, while smaller tokens like Saros and Polyhedra could face relatively greater volatility. As May 2025 approaches, investors should closely monitor these unlocks and their effects on token prices and market sentiment.