Major cryptocurrencies are under pressure as investors brace for upcoming token unlocks that could increase circulating supply. Arbitrum’s ARB was trading near $1 on Sunday, more than 58% below its 2023 peak and close to its lowest level since December 1 of last year.
Top token unlocks ahead
AEVO, a recently launched token, has plunged to around $1.20, its lowest recorded price. That represents a decline of more than 68% from its highest level this year.
Render Token (RNDR) has bucked the broader market trend, rising to about $11.50 — its strongest level since March 27. RNDR has climbed more than 75% from its April low, driven in part by growing demand for artificial intelligence (AI) related infrastructure, and is approaching its highest price of the year.
These and other tokens are likely to attract increased attention this week as their scheduled unlocks approach. A token unlock occurs when previously locked tokens become transferable and are released into circulation according to a project’s tokenomics. Such events often result in added selling pressure and dilution when large quantities of tokens enter the market.
According to data from TokenUnlocks, AEVO is set to release more than 827,000 tokens on May 15. Given AEVO’s roughly 110 million tokens currently in circulation, this unlock would represent a meaningful increase in available supply.
Arbitrum, the largest layer-2 network by usage, has a substantial unlock planned for May 16, with over 92.6 million ARB tokens scheduled to be released. That is notable relative to its circulating supply of more than 2.6 billion tokens.
Render’s token unlock is scheduled for Friday and will release roughly 8.4 million RNDR tokens, representing about 0.20% of its total supply.
Other networks with upcoming unlocks include Aptos (APT), Pendle, ApeCoin, Manta, Oasis Network, and several others, all of which could influence short-term market dynamics depending on the size and timing of their distributions.
BitBot token sale gains traction
Separately, BitBot, an emerging blockchain-based trading platform, is advancing through its token sale and reporting substantial fundraising progress.
Information displayed on BitBot’s website indicates the project has raised more than $3.3 million from global investors so far, placing it among the more active token sales currently underway. The sale is in its 13th stage out of 15, signaling the offering is approaching its final rounds.
BitBot aims to become a significant player in crypto trading by offering a Telegram-based trading assistant intended to help users with day trading. The platform plans to combine traditional technical analysis signals with advanced artificial intelligence features to enhance accuracy and decision-making for traders.
The project highlights three main aspects that differentiate its product: first, the integration of AI-driven analytics alongside standard technical indicators; second, a non-custodial design that does not hold user funds or private data; and third, an ecosystem token called $BITBOT that will provide utility including potential revenue-sharing and governance rights.
The token sale information and purchasing options are available through BitBot’s official channels for those who wish to participate.