Crypto News – Below are the key token unlock events that are expected to have an impact on the market as May approaches.
3 Important Projects to Token Unlocks in May 2024
TokenUnlocks statistics indicate that in May 2024, the cryptocurrency market will witness the issuance of tokens valued at about $3.58 billion. As the main attractions of this month’s token unlock events, Pyth Network (PYTH), Aevo (AEVO), and Avalanche (AVAX), this infusion of liquidity has the ability to cause ripples throughout a variety of digital assets.
1. Pyth Network
![3 Important Projects to Token Unlocks in May 2024 | Crypto Data Space 3 Important Projects to Token Unlocks in May 2024](https://cryptodataspace.com/wp-content/uploads/2024/04/3-Important-Projects-to-Token-Unlocks-in-May-2024-2-1024x683.png)
Pyth Network, which is leading the token unlocking this coming month, intends to unlock 2.13 billion PYTH tokens on May 20. These tokens are estimated to be worth $1.24 billion. There are multiple categories for this release:
- Publisher awards total $537.50 million, or $313.62 million, in PYTH.
- 1.13 billion PYTH, or $656.40 million, will be given to ecosystem growth.
- 212.50 million PYTH, or $123.99 million, will be distributed for protocol development.
- The release of 250 million PYTH, or $145.87 million, will go toward private sales.
2. Aevo
![3 Important Projects to Token Unlocks in May 2024 | Crypto Data Space 3 Important Projects to Token Unlocks in May 2024](https://cryptodataspace.com/wp-content/uploads/2024/04/3-Important-Projects-to-Token-Unlocks-in-May-2024-4-1024x683.png)
Nearby, Aevo is getting ready to issue 827.6 million AEVO tokens on May 15, with a market value of $1.24 billion. Here are the specifics:
- Investors in the initial private sale will be entitled to 172.97 million AEVO, or $259.45 million.
- The team’s share comes to $322.56 million, or 215.04 million AEVO.
- An allotment of 336.59 million AEVO, or $504.88 million, will be given to the DAO Treasury.
- For the remaining RBN in circulation, 103 million AEVO are valued at $154.50 million.
3. Avalanche
![3 Important Projects to Token Unlocks in May 2024 | Crypto Data Space 3 Important Projects to Token Unlocks in May 2024](https://cryptodataspace.com/wp-content/uploads/2024/04/3-Important-Projects-to-Token-Unlocks-in-May-2024-3-1-1024x683.png)
On May 22, 9.54 million AVAX tokens, worth $329.19 million, will be released by Avalanche as part of a major token release. Included in the distribution scheme are:
- 2.25 million AVAX, or $77.63 million, will be given to strategic partners.
- A total of 1.67 million AVAX, or $57.50 million, will be allocated to ecosystem expansion projects.
- A total of $155.25 million, or 4.50 million AVAX, will be accessible to team members.
- 1.13 million AVAX worth $38.81 million has been allocated for the airdrop.
Leave a comment