After a strong month of gains driven by macro relief, the crypto market traded mostly sideways this past week. Weekly Unlock Digest - Week 3, May 2025 👇 Investors appear to have already priced in the impact of the U.S. and China tariff delay. Despite this, Ethereum showed relative strength, and broader sentiment remained risk-on — allowing token unlocks to proceed with minimal disruption. This report covers key price movements, major unlocks like PYTH, standout performers such as ETHFI, and new TGEs on the radar, including the rebranded Solana Name Service (SNS). Weekly Unlocks Recap: The crypto market traded mostly flat over the past week, as investors appeared to have already priced in the positive developments from the earlier 90-day delay in U.S.-China tariffs. However, Ethereum stood out by outperforming major assets, as it attempted to catch up after a period of underperformance relative to the broader market. This renewed optimism has created a favorable environment where token unlocks had minimal negative price impact. Most newly released supplies were absorbed smoothly, and many tokens even posted gains despite ongoing emissions. Among tokens with the highest supply growth over the past 30 days, ETHFI emerged as the top performer. Its price rally aligned with Ethereum’s rebound, but the momentum was also fueled by strong fundamentals and growing attention on crypto Twitter. Influential figures like Arthur Hayes have discussed the project positively, and the recent launch of ETHFI’s crypto credit card — offering 2–3% cashback — added real-world utility to its ecosystem. Additionally, the introduction of a token buyback and burn mechanism has further strengthened its tokenomics, boosting investor confidence and driving sustained demand. https://x.com/CryptoHayes/status/1921399719835967720 Despite its impressive 2x rally over the past 30 days, ETHFI remains more than 80% below its all-time high — a reflection of how far it had previously fallen. It’s also worth noting that only 29% of the total token supply is currently in circulation, with a significant portion still locked. Therefore, upcoming unlocks will be important to watch, as they may influence market dynamics depending on investor sentiment and demand at the time. Upcoming Events: Next week’s scheduled token unlocks are set to surpass 1 Billion in total value. Of this, approximately 8% is classified as insider unlocks under Tokenomist’s framework — referring to allocations designated for founders, core teams, or early investors. Notable tokens facing sizable releases by dollar value include PYTH, MRS, SOL, PIXEL, and EIGEN Unlocks Spotlight: PYTH - Unlock Date: May 19, 2025 - Unlock as % of Circulating Supply: 58.62% - Current Unlock Progress: 36% unlocked - Vested Allocations: Ecosystem growth, Publisher reward, Private sales, and Protocol development This week, PYTH leads in unlock value, with the largest scheduled release both in dollar terms and as a percentage of circulating supply. A significant portion of the newly vested tokens is allocated to the community, aligning with the project’s long-term goal of decentralized data oracle distribution. New TGEs on the Radar: This week saw two notable TGEs: DOOD from Doodles and SNS from Solana Name Service. Among them, SNS stands out for its relatively low initial valuation compared to peers like Ethereum Name Service ( ENS ). One key difference lies in distribution: SNS allocates 40% of its supply to the community via airdrop, while ENS allocated 25%. The higher airdrop share may help with broader community participation, though its long-term impact will depend on how the ecosystem develops and adoption progresses. https://x.com/santadotsol/status/1923355636940624361 It's also worth noting that SNS is not entirely new. It’s a rebrand of Bonfida, a project that previously launched FIDA. The rebranding may be an effort to refocus the project’s direction around decentralized naming services, though it also raises questions about continuity and long-term value capture across token iterations. Notable Crypto News: Institutional - VanEck, Securitize launch tokenized US Treasury fund across four blockchains (Source: The Block) - JPMorgan Chase, With 4 Trillion in Assets, Executes First Public Tokenized Treasury Trade on Ondo's Blockchain Using Chainlink (Source: The Defiant) Regulation - SEC Delays Decision on Grayscale's Spot Solana ETF (SOL) Amid Increased Cryptocurrency ETF Scrutiny (Source: The Defiant) Tokenomics - PumpSwap, the DEX linked to http://Pump.Fun, introduced a revenue-sharing program that allocates 50% of protocol revenue to token creators (Source: CoinDesk) - Virtuals introduced a new staking mechanism for its native token (Source: Virtuals) General - Robinhood To Acquire WonderFi for 178M at 41% Premium (Source: Bitget) - Coinbase joins the S&P 500 (Source: Coinbase)