Metaplanet Increases Bitcoin Holdings with $53M Purchase

The crypto market is preparing for major token unlocks totalling more than $389 million in value over the next seven days. Such large supply surges are likely to stir up the already volatile crypto markets even further.

The largest cliff unlocks one-time events with over $5 million in release, including SPEC, ENA, MOVE, LAYER, KAS, and NEON, as per tokenomics data providers. Several linear unlocks are scheduled, which will release over $1 million daily for tokens like SOL, WLD, DOGE, AVAX, and SUI, among others.

Top Tokens to Watch: SPEC, ENA, MOVE

If you are confused about what tokens to follow, here’s a quick list of the top projects to watch out for during this chaotic token unlock:

ENA (Ethena) tops the list of token unlocks to watch this week. The project is set to release 171.88 million tokens worth $49.52 million, accounting for 3.1% of its total supply. As a relatively new DeFi project that has attracted a lot of attention lately, ENA could see sharp price moves following this unlock.

SPEC (Spectrum) is the next token in the list to review with the largest relative unlock at 48.5% of its total supply. With nearly half the tokens entering circulation, SPEC is likely to face heightened volatility and possible sell pressure.

And lastly, MOVE, which is the native token of MoveZ fitness and lifestyle project, and is going to unlock 50 million tokens worth $8.45 million. Such a sudden spike in circulating supply could affect liquidity and short-term price action.

Sui is another project traders are eyeing closely this week. Analysts expect heavy selling pressure with over 88 million SUI tokens worth $296 million set to unlock. Price models suggest a possible 20% drop if the bearish scenario plays out.

Timing and Sentiment of the Market

Sentiment heading into the unlock window remains mixed. According to one analyst, SPEC and NEON are seeing growing sell-side pressure, while KAS, although oversold, still carries risk. Volume across the board is thinning, suggesting traders may be front-running the unlocks, raising the chance of whipsaw moves if panic selling starts.

Traders should monitor wallet activity, gauge social sentiment, and analyze order book depth closely across these assets. Tokenomics dashboards like TokenUnlocks and Tokenomist can help track real-time data.

Large token unlocks such as these often create short-term volatility in the market but can also create opportunities for traders who remain patient. Some projects quickly experience profit-taking, while others see price rebounds as and when the market gradually absorbs newly unlocked tokens.

The post Major Token Unlocks Worth $389M Set to Hit Crypto Markets This Week appeared first on CoinGape.

Ethereum price has underperformed in recent months, sparking criticism from top crypto voices such as Cardano’s founder. Charles Hoksinson. Due to the lack of any meaningful gains, traders are actively seeking the best Ethereum rivals to buy and potentially make 10x returns on investment as the broader market flashes bullish signs.

For context, the Ethereum price is trading at around the same price it was one year back, while Bitcoin has surged by 68%. Crypto trader Naiive also criticised ETH, saying a $10,000 investment made 8 years ago would now be worth $8,000.

Amid these bearish headwinds and waning investor confidence, let’s explore the top 5 Ethereum rivals to buy to turn $1K to $10K in May.

Ethereum Rivals to Buy Now For 10x Gains in May

The top Ethereum rivals to buy now for potential 10x returns in May include Ripple (XRP), Solana (SOL), Cardano (ADA), Dogecoin (DOGE), and Sui (SUI). These altcoins have not only outperformed Ethereum but also have robust fundamentals and a strong technical outlook, hinting at gains.

Ripple (XRP)

XRP is one of the top Ethereum rivals to buy now amid positive catalysts, including the hype around XRP ETF approvals. At press time, XRP had a higher fully diluted market cap of $232 billion, compared to Ethereum’s $219 billion.

Meanwhile, XRP/ETH is at the highest point in five years after forming a golden cross, indicating that XRP has offered better returns than ETH. Therefore, investors looking to turn $1,000 into $10,000 should consider switching their investment from Ethereum to XRP.

Solana (SOL)

One of the top reasons making Solana among the top Ethereum rivals to buy is network growth. Data from DeFillama shows that Solana’s DeFi TVL is approaching the $10 billion milestone, while the stablecoin market cap is at an all-time high.

At the same time, SOL has a series of bullish catalysts that could drive a price recovery in the coming months, including potential ETF approvals. If these products are approved, $1,000 worth of Solana could easily grow to $10,000.

Dogecoin (DOGE)

Dogecoin’s rising open interest highlights massive interest in the altcoin, making it among the top Ethereum rivals to buy now. Data from Coinglass shows that Dogecoin’s OI has gradually risen in the last three weeks to $1.9 billion at press time.

Additionally, 71% of traders with open positions on Binance are long on Dogecoin, highlighting a bullish sentiment that this top meme coin will register massive gains. If DOGE bounces higher, traders holding the coin can easily make a 10x return on investment.

Cardano (ADA)

Cardano founder Hoskinson is bearish on Ethereum, after recently stating that the altcoin will crash in 15 years. This criticism drew speculation over whether Cardano could be a better investment and one of the top Ethereum rivals to buy.

The technical outlook on the daily price chart shows ADA has bounced from a key demand zone and aims for the next target of $0.93. The rising RSI with a value of 60 further shows the bullish momentum is growing strong and the MACD line has also crossed above the zero line.

Sui (SUI)

SUI has outperformed the broader crypto market with a staggering 70% gain in the last week alone. Its market cap has also surged to $12 billion, and it might soon enter the ranking for the top ten largest cryptos by market cap.

SUI is just 28% shy of its all-time high, and as the uptrend strengthens, as highlighted by the AD line, SUI might be poised for a massive uptrend. The AO bars also support a bullish SUI price prediction that the uptrend will continue.

Summary of Top Ethereum Rivals to Buy

Ethereum is underperforming against most cryptos, and traders are actively seeking the top Ethereum rivals to buy to enjoy massive returns. Some of the top altcoins that you can buy to turn $1,000 to $10,000 today are XRP, SOL, ADA, DOGE, and SUI.

The post 5 Ethereum Rivals to Buy to Turn $1K to $10K in May appeared first on CoinGape.