Magic Eden is set to release roughly 172 million ME tokens on June 10, 2026, a move that traders are watching closely after a similar unlock last month triggered a sharp price drop. The batch accounts for about 17.2% of the total token supply and is heavily weighted toward early contributors.
What the unlock looks like
According to data from event trackers, the largest portion — about 162.2 million ME, or 94.3% of the unlocked tokens — goes to contributors. The remaining 6.96 million ME (4%) is allocated to community and ecosystem programs, and 2.88 million ME (1.7%) to strategic participants. The unlock was flagged on CoinMarketCal and other trackers, giving the market time to prepare.
The total circulating supply of ME stood at roughly 559 million tokens at the time of the snapshot, out of a max supply of 1 billion. The market cap was about $33.2 million.
History casts a shadow
This isn't the first large unlock for Magic Eden. A previous release on May 10, 2026 freed up tokens worth about 5.9% of the market cap at that time. Within two weeks, the price dropped an estimated 20.2%, according to Tokenomics.com data. That history is likely weighing on traders' minds as the June unlock looms.
Unlocks that concentrate tokens in contributor wallets tend to attract extra scrutiny. The theory is that recipients may cash out, creating sell pressure. But not all contributors sell immediately — some hold, some hedge, some transfer tokens slowly.
What traders are watching
In the days leading up to a large unlock, market participants often adjust positions. Traders may trim exposure, buy put options, or short the token. Borrow rates and funding costs can rise as demand for leverage shifts. Wallet-to-exchange flows become a key signal — if tokens start moving to trading platforms, the market reads that as preparation to sell.
On thinner trading pairs, spreads can widen as liquidity providers become more cautious. The effect is amplified when the unlock represents a big chunk of circulating supply, as this one does.
With the June 10 date set, the question for holders isn't whether the tokens will hit the market — it's how fast, and at what price, contributors choose to move them.
