The world of cryptocurrencies is about to witness some big moves this week as several projects are scheduled to unlock their tokens, increasing the number of tokens in circulation. Token unlocking events are closely watched by investors as they often impact cryptocurrency prices. Here's what to watch out for this week:

High-Value Tokens Unveiling

Starting with MEME, over 5.31 billion MEME tokens will be unlocked on May 3rd, accounting for nearly 32% of the circulating supply, valued at around $156 million. These tokens will be distributed to various stakeholders including the community, advisors, and investors.

Similarly, the dYdX ecosystem will see 33.33 million DYDX tokens unlocked on May 1st, making up about 10.72% of the circulating supply, valued at approximately $73.33 million. These tokens will go to founders, employees, and advisors.

Furthermore, the Ethereum Layer-2 network, Optimism, will unlock 24.16 million OP tokens on April 29th, with a transaction worth $58.47 million, allocated to core participants and investors.

Tokens to Watch

Other notable tokens unlocking this week include 1.66 million PRIME tokens from Echelon Prime on April 30th, valued at $30.03 million, and SUI tokens from the Sui ecosystem, valued at $4.88 million, also on April 30th.

Looking ahead, Ethena is set to unlock ENA tokens valued at $46.71 million next week.

Additionally, this weekend sees unlocking events for Yield Guild Games, releasing 16.69 million YGG tokens valued at $15.12 million on April 27th, and SingularityNET, unlocking 8.84 million AGIX tokens on April 28th.

Conclusion

While token unlocking events are often viewed with caution by investors, they don't always result in a downturn. Sometimes, token prices may drop before the unlocking event, and not necessarily after. Therefore, it's important for investors to keep an eye on upcoming unlocking dates to make informed decisions.