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CDS Crypto News Massive May Token Unlocks: Pyth Surges with 1.25 Billion Dollars Release, Joined by Avalanche, Aptos, and Arbitrum

Crypto News

Massive May Token Unlocks: Pyth Surges with 1.25 Billion Dollars Release, Joined by Avalanche, Aptos, and Arbitrum

In May, the Pyth network is unlocking over $1.25 billion worth of tokens, alongside significant unlocks from platforms like Avalanche, Aptos, Arbitrum, and Memeland. This event is poised to reshape the crypto landscape, drawing attention from investors and enthusiasts.

Ecem EFE29/04/20241 Mins read72

Crypto News- In the fast-paced world of cryptocurrency investment, keeping tabs on tokenomics is crucial. And with over a billion dollars’ worth of tokens set to be unleashed, all eyes are on Pyth Network PYTH -7.89%. Scheduled to unlock its first batch of tokens in three weeks, Pyth Network’s move marks a significant milestone for ecosystem participants and early backers alike.

Massive May Token Unlocks: Pyth Surges with 1.25 Billion Dollars Release, Joined by Avalanche, Aptos, and Arbitrum

But Pyth Network isn’t alone in the token unlock frenzy. Joining the ranks are several other notable projects:

Memecoin (Memeland): May 3, $150 million Despite its name, Memecoin (ticker MEME -8.27%) isn’t your typical meme-inspired cryptocurrency. Set to unlock 8.30% of its circulating supply, valued at approximately $148 million, Memecoin sets the stage for regular unlocks benefiting investors and advisors.

Aptos: May 12, $100 million Aptos (APT -3.097%), spearheaded by former members of Facebook’s Libra currency project, gears up to unlock another 2.65% of its circulating supply. With partnerships with industry giants like Microsoft, Aptos Ascend aims to redefine decentralized finance.

Arbitrum: May 16, $100 million Arbitrum (ARB -8.18%), fresh from launching Bounded Liquidity Delay on testnet, prepares to unlock 3.5% of its circulating supply. Valued at around $100 million, this unlock signals Arbitrum’s steady progress in the blockchain space.

Avalanche: May 22, $325 million Avalanche (AVAX -4.99%) continues its emission schedule with 9.54 million tokens set to unlock, amounting to 2.5% of its circulating supply. With a focus on community engagement, Avalanche reveals its holdings of community coins intertwined with its ecosystem.

Additional Notable Unlocks:

May 1: Decentralized exchange dYdX (DYDX -5.22%) unleashes 10% of its circulating supply, valued at $71 million.

May 15: Ethereum Layer-2 Starknet unlocks 8.8% of its circulating supply, amounting to $80 million.

May 17: Web3 gaming firm ImmutableX (IMX -7.27%) releases 1.75% of its circulating supply, valued at $54 million.

As May unfolds, these token unlocks promise to reshape the cryptocurrency landscape, offering both opportunities and challenges for investors navigating the ever-evolving market.