#5月代币解锁潮来袭 May Token Unlock Wave Approaching: Over $800 Million in Funds Under Pressure, Who Can Break Through Against the Trend?

The crypto market in May has entered deep waters. As the week begins, over $850 million worth of tokens are being unlocked in a concentrated release. Against the backdrop of macro geopolitical turbulence (such as the Israel-Palestine situation) and diplomatic games surrounding Trump’s visit to China, liquidity is facing a severe stress test.

1. Key Monitoring: Projects with High Unlock Ratios
Unlike typical small releases, the unlock ratios of several projects this month are enough to influence secondary market pricing:

• $PYTH (Pyth Network): On May 21, one of the largest unlocks in history will occur, releasing about 21.3% of the circulating supply, approximately $100 million.

• $PIEVERSE: Unlock ratio on May 14 reaches as high as 39.7%, placing it in the very high risk zone.

• $STRK & $ARB: As the two L2 giants, they will consecutively release tens of millions of dollars in mid-May (15-16), testing the ecosystem’s capacity to absorb the pressure.

2. Daily Releases of Blue-Chip Tokens

• $APT (Aptos): On May 12/13, about $11 million will be unlocked, a routine monthly release that the market has usually already priced in.

• $AVAX: On May 12, 1.67 million tokens will be released, exerting relatively light pressure.
3. RWA and Infrastructure Battles

Recently, MANTRA (OM) has performed strongly due to positive developments related to the CLARITY Act, while Space and Time (SXT) just completed a large-scale unlock on May 8. For RWA or data infrastructure projects with solid fundamentals, the volatility after unlocking is often the best window for observing whether institutional chips are loosening.

Trading Strategy Suggestions:

• Watch for “All Clear for Negative News”: Observe abnormal trading volume on the unlock day. If the price does not fall but instead rises or quickly recovers after unlocking, it often indicates strong buying power.

• Hedge Volatility: The potential macro volatility triggered by Trump’s visit to China on May 13 suggests using BTC/ETH short positions to hedge when heavily holding tokens that are unlocking.