According to CoinMeta, token unlocks can sometimes trigger intense selling pressure, while at other times they may have almost no impact on prices, depending mainly on supply, liquidity, recipients, and market expectations. An encryption project might announce the unlocking of hundreds of millions of dollars worth of tokens, but the price may remain virtually unchanged; whereas another token, even with a smaller amount released, could face strong selling pressure. Unlocks refer to the release of previously restricted tokens according to the project’s ownership plan, for distribution to founders, employees, and early investors. The impact of these unlocks on the market depends on the recipients, the proportion of the released tokens relative to the total circulating supply, and the market’s ability to absorb the potential selling pressure. Tokenomist tracks the proportion of tokens that are about to be unlocked relative to the existing circulating supply to show the potential expansion of the tradable float. A release of 15% of the circulating supply could significantly change the supply dynamics of smaller tokens, whereas a release of just 0.5% might be more easily absorbed by the market. The destination of the released tokens is also important; tokens distributed to early investors may arouse more concern, as these holders have a very low cost base and are therefore more motivated to realize profits.