Over the years, projects have kept tokens locked up to ensure transparency and protect investors. A new batch of tokens from Immutable (IMX), an L2 network, is set to unlock on May 6, increasing the free float by up to 2%.

As of May 2024, Immutable has already unlocked 65.51% of all tokens, with the current unlock valued at $1.57M, representing 1.93% of the free float. The increase in supply of IMX tokens may impact the market price as only 2.46% of the total supply is currently being traded.

Ahead of the unlock, IMX was trading at $2.21 with $70M in trading volume in 24 hours but faced low liquidity. The 2% slippage liquidity for IMX stood at just $152K, a fraction of the upcoming unlock size.

IMX has experienced a drop from its recent high above $3.60 but has seen increased activity due to rewards for ecosystem development. The project also offers staking programs and Gem rewards for holding and bridging IMX tokens to incentivize the community.

Immutable is focused on creating a strong ecosystem by introducing incentives to hold IMX tokens, where users can complete daily quests by holding a minimum balance of 20 IMX and collecting Gems. Holding Gems unlocks rewards and bonuses, positioning players for future airdrops or exclusive deals.

Looking ahead, Immutable aims to rejuvenate Web3 gaming participation with $50M in incentives for games within its ecosystem. Additionally, high-profile projects and NFT holders will benefit from the rewards, fostering further engagement within the community.

In the coming month, other projects like Arbitrum, ApeCoin, and Optimism will also release tokens into the market, increasing their supply. Sui Foundation is expected to release a significant 20% of its tokens, valued at $189M, with plans to gradually unlock more tokens over the years.

Sui Foundation’s complex unlocking program involves various tiers of token owners having access to their assets from May 31 onwards, potentially introducing nearly 1B SUI tokens into the market. The gradual release of locked tokens will continue, leading to an increase in the token supply over time.