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
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
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
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.
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