The crypto world is gearing up for a busy May, as several major projects prepare to release a significant chunk of their token supply into the market.
From WhiteBIT and Sui to Aptos and Starknet, a wave of token unlocks is coming — and it could shake up prices and investor sentiment across the board.
Let’s take a closer look at what’s unlocking, when it’s happening, and how much each project is about to put into circulation.
WhiteBIT Coin (WBT)
WhiteBIT leads the pack with one of the biggest unlocks of the month. On May 13, the platform will unlock 39.49 million WBT, which accounts for 12.1% of the total supply — valued at approximately $1.16 billion. This unlock alone makes up a staggering 27.4% of the project’s market cap.
Currently, 69.7% of the total WBT supply is unlocked, translating to 318.46 million tokens worth around $9.37 billion. The token is trading at $29.44, with a slight uptick of 0.85% at the time of writing.
The unlock is primarily allocated to WhiteBIT Funds, which are set to receive the full 39.49 million tokens in this round which is 9.87% of max supply.
Sui (SUI)
Coming up first in the lineup is Sui, which will release 88.34 million tokens on May 1 — that’s 0.88% of its total supply, worth an estimated $319.37 million or 2.72% of its market cap.
The tokens will be distributed across several categories: Community Reserves will receive 42.62 million SUI (4% of the round), while Stake Subsidies will receive 14.35 million (1.51%).
Currently, 32.5% of the supply is unlocked (around 3.25 billion tokens), valued at $11.7 billion. The remaining 33.4% — roughly 3.34 billion tokens worth $12.07 billion — is still to be unlocked.
PYTH Network (PYTH)
PYTH is preparing for a major release on May 20, unlocking 2.13 billion PYTH tokens, which accounts for 21.3% of its total supply and represents a hefty 58.6% of its market cap — about $340.37 million in value.
These tokens are primarily allocated to Ecosystem Growth (1.13 billion tokens) and Publisher Rewards (537.53 million tokens).
Currently, 36.2% of the total supply — or 5.75 billion PYTH — is already unlocked, valued at $920.96 million. The current token price is $0.160, up slightly by 0.57%.
Aptos (APT)
Aptos will unlock 11.31 million tokens on May 12, making up 0.98% of its total supply. That’s roughly $63.3 million, or 1.83% of the market cap.
The tokens will go to community allocations (3.21 million) and core contributors (3.96 million), with two more rounds scheduled.
So far, 41.4% of the supply — about 476.01 million APT — is unlocked, worth $2.66 billion. The current price is $5.60, seeing a mild increase of 0.23%.
Ethena (ENA)
On May 2025 (date unspecified), Ethena will unlock 94.19 million ENA tokens, or 0.63% of total supply, valued at $31.9 million, which is 1.69% of its market cap.
Of these, Ecosystem Incentives will receive 53.55 million tokens and the Foundation will receive 40.64 million.
Currently, 37.3% of ENA — about 5.69 billion tokens — is unlocked, valued at $1.93 billion. ENA is trading at $0.339, although it saw a 5.33% dip recently.
Polyhedra Network (ZKJ)
Polyhedra is also set for a sizable unlock on May 19, releasing 15.5 million tokens, which is 1.55% of total supply, and worth around $33.25 million — a significant 25.7% of the project’s market cap.
These tokens will primarily fund Ecosystem & Network Incentives (8.47 million) and Community, Airdrop, and Marketing (2.61 million).
To date, 29.2% of ZKJ — or 307.94 million tokens — are unlocked, worth $660.80 million. The token trades at $2.15, with minimal movement this week.
Arbitrum (ARB)
ARB will unlock 92.63 million tokens on May 16, amounting to 0.93% of the total supply and valued at $31.66 million, around 1.95% of the market cap.
This round will be allocated to Team & Advisors (56.12 million) and Investors (36.51 million).
At the moment, 35.9% of ARB is unlocked, equaling 3.68 billion tokens worth $1.26 billion. The token is priced at $0.342, with a small drop of 1.14%.
Saros (SAROS)
Saros is planning a multi-round unlock on May 19, with 213.93 million tokens to be released, accounting for 2.14% of its supply, worth $28.06 million, or 8.15% of its market cap.
Core Contributors will get 54.06 million tokens, and Ecosystem Growth will get 40.54 million in this round.
So far, 34.8% of SAROS — or 3.69 billion tokens — is unlocked, worth $484.53 million. The token is currently priced at $0.131.
Jito Labs (JTO)
Jito’s unlock is scheduled for May 7, when 11.31 million tokens will be released — 1.13% of total supply, valued at $21.02 million, or 3.51% of the project’s market cap.
At present, 28.1% of JTO — 280.95 million tokens — is already unlocked, valued at $522.12 million. The token is trading at $1.86, with a slight rise of 2.06%.
Starknet (STRK)
Finally, Starknet will unlock 127.60 million tokens on May 15, which is 1.28% of the total supply, worth $19.54 million, making up 4.39% of its market cap.
The tokens will be distributed to Early Contributors (66.92 million) and Investors (60.68 million).
Right now, only 16.2% of STRK—1.62 billion tokens is unlocked, worth $247.36 million. The token is priced at $0.153.
May is packed with unlock events that could introduce billions of dollars worth of tokens into circulation. These unlocks, while scheduled and anticipated, often lead to market volatility, especially for tokens with large market cap impacts. It’s a month to watch closely, especially if you’re holding or trading any of these assets.
