The crypto market is set to absorb token unlocks worth more than $737.7 million during the second week of May 2026. The largest single unlock by value belongs to Connex (CONX), which releases 1.32 million tokens on May 15 worth nearly $18 million. Avalanche and Arbitrum follow close behind with unlocks of $17 million and $13.36 million respectively.
Connex unlocks ecosystem and community treasury
Connex's May 15 unlock distributes 822,500 tokens to the ecosystem and 500,000 to the community treasury. The total 1.32 million CONX tokens represent 1.49% of the project's released supply of 88.6 million. This is the largest unlock of the week by dollar value despite the relatively modest percentage of circulating supply.
Avalanche foundation gets full allocation
Avalanche unlocks 1.67 million AVAX tokens on May 12, worth over $17 million. The entire batch goes to the foundation. That's just 0.31% of AVAX's released supply of 536.9 million tokens — a small share, but the dollar amount still stands out.
Arbitrum distributes to team, advisors, and investors
Arbitrum's unlock on May 16 is the largest by token count — 92.65 million ARB tokens valued at $13.36 million. The breakdown: 56.13 million tokens go to the team, future team, and advisors, while 36.52 million go to investors. The unlock represents 1.71% of ARB's released supply of 5.41 billion.
Other unlocks to watch this week
Aptos (APT), Cheelee (CHEEL), and Starknet (STRK) also have token unlocks scheduled during the same week, though the facts do not detail their exact amounts or dates. Investors and traders will be watching for any price pressure from the combined $737.7 million in new supply hitting the market across these projects.
