Ethereum

Memecoin

Optimism

MEME

<div class="finbold">
 <p class="paragraph">Finbold encountered three <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currencies to <a rel="noopener noreferrer nofollow" title="avoid" href="https://thebittimes.com/tag/avoid.html">avoid</a> <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> in the first week of May due to significant token unlocks.</p>
 <p class="paragraph">Unlocking cryptocurrency assets often creates sell-off pressures that can drastically impact its price and investment results. Savvy traders and investors actively consider supply and demand dynamics to make profitable decisions and manage risks.</p>
 <p class="paragraph">In particular, data from <em>TokenUnlocksApp</em> shows $417.68 million in potential sell-offs for the next seven days from April 27. The top 3 highest unlocks will happen from April 29 to May 3, releasing $271.26 million worth of tokens.</p>
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 <figure class="wp-block-image size-full"><img decoding="async" width="986" height="482" src="https://cdn.thebittimes.com/images/2024/04/28/83f29e2bee355f2f4d1ac867ece8f1e4.webp" alt class="wp-image-172247" srcset="https://cdn.thebittimes.com/images/2024/04/28/83f29e2bee355f2f4d1ac867ece8f1e4.webp 986w, https://cdn.thebittimes.com/images/2024/04/28/83f29e2bee355f2f4d1ac867ece8f1e4.webp 300w, https://cdn.thebittimes.com/images/2024/04/28/83f29e2bee355f2f4d1ac867ece8f1e4.webp 768w" sizes="(max-width: 986px) 100vw, 986px">
  <figcaption class="wp-element-caption">
   Cliff unlocks the next seven days. Source: <em>TokenUnlocks.App</em>
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 </figure>
 <h2 class="wp-block-heading" id="h-<a rel=" dofollow title="avoid" href="https://thebittimes.com/tag/avoid.html" rel="noopener noreferrer nofollow">avoid-<a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a>-memecoin-meme"&gt;Avoid <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> Memecoin (MEME)</h2>
 <p class="paragraph">First, Memecoin (MEME) stands out with a staggering $144.64 million worth of 5.318 billion MEME. The team will unlock these tokens on May 3, inflating the circulating supply by 32%, which may cause a crash.</p>
 <p class="paragraph">From the total, 3.45 billion MEME will be released via airdrop for an imminent sell-off of $93.92 million. According to the <em>CoinMarketCap</em> index, this amount is over two times Memecoin’s 24-hour volume of $40 million.</p>
 <figure class="wp-block-image size-full"><img decoding="async" width="686" height="496" src="https://cdn.thebittimes.com/images/2024/04/28/a1117e8325456bc8e8575fd9bd398974.webp" alt class="wp-image-172248" srcset="https://cdn.thebittimes.com/images/2024/04/28/a1117e8325456bc8e8575fd9bd398974.webp 686w, https://cdn.thebittimes.com/images/2024/04/28/a1117e8325456bc8e8575fd9bd398974.webp 300w" sizes="(max-width: 686px) 100vw, 686px">
  <figcaption class="wp-element-caption">
   MEME token unlocks on May 3. Source: <em>TokenUnlocks.App</em>
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 </figure>
 <h2 class="wp-block-heading" id="dydx-protocol-dydx">dYdX Protocol (DYDX)</h2>
 <p class="paragraph">The decentralized exchange protocol DYDX is again featured among cryptocurrencies to avoid trading due to its unlocks. Finbold reported a similar warning for March 31 and, previously, for February 29, with 33.34 million tokens unlocked – worth $117.33 million and $130 million, respectively.</p>
 <p class="paragraph">Now, the protocol will put the same amount of DYDX in circulation on May 1, currently worth $70.33 million. Evidencing the losses accrued from previous unlocks, worth nearly 50% less than from February’s unlock.</p>
 <p class="paragraph">As for the distribution, early investors will receive most of the unlocks, worth $39.01 million by press time. The team will have $21.48 million worth of DYDX to sell in the following weeks, and a reserve for future employees will take the rest, worth $9.85 million.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="686" height="522" src="https://cdn.thebittimes.com/images/2024/04/28/166e9c4972fc72b9c5cf2c9bfd9cb323.webp" alt class="wp-image-172249" srcset="https://cdn.thebittimes.com/images/2024/04/28/166e9c4972fc72b9c5cf2c9bfd9cb323.webp 686w, https://cdn.thebittimes.com/images/2024/04/28/166e9c4972fc72b9c5cf2c9bfd9cb323.webp 300w" sizes="(max-width: 686px) 100vw, 686px">
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   DYDX token unlocks on May 1. Source: <em>TokenUnlocks.App</em>
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 </figure>
 <h2 class="wp-block-heading" id="optimism-op">Optimism (OP)</h2>
 <p class="paragraph">Finally, Optimism (OP) has the third-largest token unlock for the first week of May. Traders should also avoid trading OP in the following days despite a proportionally lower inflation than the previous two.</p>
 <p class="paragraph">The layer-2 blockchain for the Ethereum (ETH) ecosystem will unlock 24.16 million OP, worth $56.29 million. On April 29, core contributors will receive 12.75 million tokens, while investors will receive 11.41 million tokens.</p>
 <figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="686" height="402" src="https://cdn.thebittimes.com/images/2024/04/28/34c11faf84879cedfbe1401b5fabf610.webp" alt class="wp-image-172250" srcset="https://cdn.thebittimes.com/images/2024/04/28/34c11faf84879cedfbe1401b5fabf610.webp 686w, https://cdn.thebittimes.com/images/2024/04/28/34c11faf84879cedfbe1401b5fabf610.webp 300w" sizes="(max-width: 686px) 100vw, 686px">
  <figcaption class="wp-element-caption">
   OP token unlocks on April 29. Source: <em>TokenUnlocks.App</em>
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 </figure>
 <p class="paragraph">Increasing a token’s supply does not guarantee that its price will fall, as demand acts as a balancing force when there is any.</p>
 <p class="paragraph">However, crypto traders will try to speculate on the economic effects these unlocks may have on price, which could bring increased volatility and worsen the potential risk-reward ratio. The market is uncertain and influenced by multiple factors, requiring proper risk management and learning when to avoid trading specific cryptocurrencies.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/3-cryptocurrencies-to-avoid-trading-in-may-s-first-week-tbt86788.html">https://thebittimes.com/3-cryptocurrencies-to-avoid-trading-in-may-s-first-week-tbt86788.html</a></p>

3 cryptocurrencies to avoid trading in May’s first week

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