This week (April 13–19, 2026), the crypto market is set for another wave of large-scale token unlocks. According to Tokenomist data, projects with single major unlocks (unlock value over $5 million) in the next seven days include CONX, ARB, DBR, and YZY. Projects with significant linear unlocks (daily unlock value over $1 million) include RAIN, SOL, CC, TRUMP, WLD, and DOGE. The total value of unlocked tokens exceeds $221 million. Among these, deBridge will release 618 million DBR tokens on April 17, instantly expanding its circulating supply by 12.9%. This marks the most significant supply increase of the week.
Key Unlock Data for the Week
This round of unlocks covers representative projects across multiple sectors, from Layer 2 infrastructure to cross-chain protocols, and from single cliff unlocks to ongoing linear releases. The following summarizes the core unlock data for key projects:
| Project | Unlock Time (Beijing Time) | Unlock Quantity | Unlock Value (Approx.) | Percentage of Circulating Supply | Unlock Type |
|---|---|---|---|---|---|
| Connex (CONX) | April 15, 08:00 | 1.32 million | $15.95 million | 1.52% | Single Cliff |
| Arbitrum (ARB) | April 16, 21:00 | 92.65 million | $10.28 million | 1.75% | Single Cliff |
| deBridge (DBR) | April 17, 08:00 | 618 million | $9.08 million | 12.90% | Single Cliff |
| YZY (YZY) | April 18, 11:00 | 20.83 million | $6.36 million | 4.67% | Single Cliff |
| RAIN (RAIN) | Ongoing Linear Release | Daily Linear Unlock | Leading in Value | Not Applicable | Linear Release |
By dollar value, CONX leads this week’s single unlocks at approximately $15.95 million, with ARB following at about $10.28 million. In terms of circulating supply increase, DBR stands out with a 12.9% jump, while YZY ranks second at 4.67%. RAIN, through its linear release mechanism, plays a significant role in the total weekly unlock value.
Many unlocks are concentrated between April 15 and 17. Combined with ongoing linear releases from projects like RAIN, the market faces a dense supply increase challenge this week.
Core Project Data and Structural Analysis
deBridge (DBR): Largest Supply Increase, Dual Pressure from Allocation and Liquidity
deBridge is a non-custodial cross-chain protocol built on a 0-TVL architecture, offering on-demand liquidity via competitive solvers without relying on shared asset pools. This unlock is part of its tokenomics plan.
On April 17 at 8:00 AM Beijing time, DBR will release about 618 million tokens in a single event, unlocking roughly $9.08 million in value—equivalent to 12.90% of its circulating supply. These tokens will be distributed among various stakeholders, including ecosystem development, core contributors, and strategic partners.
Gate market data as of April 14, 2026:
- DBR is currently priced at about $0.01417, with a 24-hour trading volume of approximately $85,840. Its market cap stands at $25.52 million, fully diluted market cap at $141.8 million, circulating supply at 1.8 billion, and both total and maximum supply at 10 billion. The current circulation rate is 18%.
- 24-hour high: $0.01476; 24-hour low: $0.01412; 24-hour price change: -2.61%. All-time high: $0.05764; all-time low: $0.005.
The $9.08 million unlock value is over 100 times DBR’s current daily trading volume of $85,000. This ratio suggests that if a large sell-off occurs shortly after the unlock, current liquidity may not absorb it fully, raising the risk of price volatility.
A one-time 12.9% increase in circulating supply is the most significant structural shock in this unlock cycle. While distributing tokens among multiple stakeholders may help smooth out selling pressure, the rapid supply expansion could reinforce cautious sentiment in the market.
The substantial liquidity released alongside the unlock could pressure DBR’s short-term price, especially in the days immediately following the event. Historically, unlocks that expand circulating supply by more than 10% often bring above-average volatility.
Arbitrum (ARB): High Unlock Value, Ongoing Supply Pressure in the Layer 2 Sector
Arbitrum is a leading Ethereum Layer 2 scaling solution, using Optimistic Rollup technology for off-chain transaction processing and mainnet verification.
ARB will unlock about 92.65 million tokens at 9:00 PM Beijing time on April 16, representing 1.75% of its circulating supply and valued at approximately $10.28 million. The unlocked tokens will mainly go to the team and early investors, with the team, future team, and advisors receiving around 56.13 million ARB, and investors getting about 36.52 million.
Gate market data as of April 14, 2026:
- ARB is currently priced at about $0.1127, with a 24-hour trading volume of $627,000. Its market cap is $680.31 million, fully diluted market cap at $1.12 billion, circulating supply at 6.04 billion, and both total and maximum supply at 10 billion. The current circulation rate is 60.41%.
- 24-hour high: $0.1137; 24-hour low: $0.1099; 24-hour price change: +1.18%. All-time high: $2.39; all-time low: $0.08708.
The unlock value for ARB is about 1.6 times its 24-hour trading volume. Compared to DBR, this ratio is significantly lower, indicating ARB’s liquidity can better handle the unlock. However, ARB’s circulating supply already accounts for 60.41% of its total supply, with the remaining 40% set for future unlocks. This means ongoing supply pressure for the Layer 2 sector.
This 1.75% supply increase is moderate for a single unlock, but since the recipients are mainly the team and early investors—groups typically more motivated to cash out—short-term selling pressure is worth monitoring.
ARB’s price may be influenced more by market expectations ahead of the unlock. If the market has already priced in the event, actual post-unlock price swings may be lower than model forecasts.
Connex (CONX): Leading by Value, Testing Supply in the Professional Network Sector
Connex is a permissionless Web3 professional network that integrates blockchain technology with career-oriented social scenarios. The CONX token is used for payments and governance.
CONX will unlock about 1.32 million tokens at 8:00 AM Beijing time on April 15, equal to 1.52% of its circulating supply and valued at approximately $15.95 million. Of these, around 822,500 tokens will be allocated to ecosystem development, and 500,000 will enter the community treasury.
Gate market data as of April 14, 2026:
- CONX is currently priced at about $0.01223, with a 24-hour trading volume of $19,000. Its market cap is $11.18 million, fully diluted market cap at $24.47 million, circulating supply at 913.5 million, total supply at 1.99 billion, and maximum supply at 2 billion. The current circulation rate is 45.68%.
- 24-hour high: $0.01243; 24-hour low: $0.01197; 24-hour price change: +0.66%. All-time high: $1.40; all-time low: $0.01151.
The unlock value for CONX is about 83 times its 24-hour trading volume. This ratio is moderate among the three main assets analyzed but remains high in absolute terms, indicating limited liquidity depth relative to the unlock scale.
In absolute dollar terms, CONX is the largest single unlock of this cycle. However, its token allocation structure—mainly toward ecosystem development and the community treasury rather than early investors—may reduce the likelihood of concentrated short-term sell-offs.
Tokens allocated to ecosystem and community treasury are more likely to be used for ecosystem incentives and long-term development, rather than immediate liquidation post-unlock. This structural difference may mean CONX’s actual market impact is less than what the dollar value alone would suggest.
RAIN: Leading Linear Releases, Structural Differences Affect Market Impact
RAIN is the native token of Rain Protocol, which previously completed a large-scale token release. On April 10, 2026, RAIN released about 37.43 billion tokens according to its scheduled unlock plan. The value of RAIN set to unlock in April is about $294.26 million, making it the largest token unlock event of the month.
RAIN uses a linear release mechanism, distributing relatively small amounts daily instead of a single cliff unlock. Within this week’s $221 million total unlock value, RAIN’s ongoing linear release is a major component.
The linear unlock model spreads supply increases across each day, reducing instant market impact compared to cliff unlocks but extending the duration of supply pressure. Markets typically absorb linear unlocks through gradual price adjustments rather than sudden volatility.
RAIN’s linear release may create sustained supply pressure throughout this week and beyond. Combined with other projects’ concentrated unlocks, this increases overall market volatility risk.
Industry Impact Analysis: Structural Implications of the Supply Cycle
This unlock wave is not just a short-term market event—it reflects deeper changes underway on the supply side of the crypto industry.
Supply Cycles and Market Liquidity Rebalancing
2026 has become a landmark year for token unlocks. Data shows the total value of token unlocks in March 2026 reached about $6.03 billion, a sharp increase from $2 billion in February. The pace remains intense in April. Ongoing new supply entering the market is testing overall liquidity pools over the long term. Against the backdrop of price consolidation in major assets like Bitcoin, the expanding supply of altcoins may combine with weak demand, further segmenting liquidity across different sectors.
Rethinking VC Exit Mechanisms
The unlock wave is prompting a renewed focus on VC exit strategies. In 2026, token unlocks are deeply tied to VC exits—when VCs unlock and transfer tokens, it triggers not only supply-demand changes for individual projects but also a broader reassessment of VC exit logic. Some projects are redesigning tokenomics to focus more on long-term value accumulation, using robust repayment buffers and sustainable staking reward models to balance growth incentives with financial health.
Unlock Calendars as Essential Market Infrastructure
As unlock events become more frequent, the 2026 token unlock calendar has evolved from a fringe tool to essential infrastructure for market participants. Identifying upcoming unlocks, assessing supply increases, and analyzing liquidity depth have become standard risk management practices. This week’s unlocks span Layer 2, cross-chain protocols, Web3 social, and other sectors. Such cross-sector supply resonance is increasingly common in 2026, requiring investors to shift from a single-project perspective to a broader supply cycle outlook.
Conclusion
This week’s token unlocks, totaling over $221 million, mark another concentrated release of supply-side pressure in the 2026 crypto market. deBridge stands out with a 12.9% increase in circulating supply—the most significant structural shock of this unlock cycle. Connex leads single cliff unlocks with about $15.95 million, Arbitrum’s ongoing supply release as a top Layer 2 project remains noteworthy, and RAIN’s linear release mechanism plays a major role in the week’s total unlock value.
Structural differences among unlocks—including recipient allocation, liquidity depth, and circulation rates—mean the impact and response for each asset are not uniform. For market participants, the 2026 token unlock calendar has upgraded from a reference tool to a risk management essential. In a macro environment of expanding supply, distinguishing between "unlock value" and "selling pressure," understanding how allocation structures shape actual market behavior, and monitoring the match between liquidity depth and unlock scale are key frameworks for analyzing how token unlocks affect prices.
Short-term volatility is a likely outcome during unlock cycles, but a project’s long-term value is always determined by its product fundamentals, ecosystem activity, and sustainable tokenomics. After the unlock, the real questions begin.
