According to Token Unlocks data, the cryptocurrency industry will witness its second token unlock of more than $3 billion for this year in May.
Token unlocks are when currencies that were initially kept are gradually released in order to deter early investors or team members from selling their large-volume holdings quickly.
This procedure has a history of exerting significant control over the overall state of the market by increasing the selling pressure on a digital asset.
Aevo, Pyth, has more over $1 billion unlocked
Leading the noteworthy May token unlock are Aevo and Pyth, two prominent participants who plan to issue tokens valued at over $1 billion apiece.
827.6 Million Tokens
With 827.6 million tokens worth at $1.257 billion, Aevo is about to unleash a staggering 758% increase in its existing supply. This will be unlocked in May 15.
In addition, between May 16 and May 24, the Layer-2 DEX roll-up will distribute 6.13 million AEVO tokens every day.
The project team, early private sale participants, and the DAO treasury will be the main recipients of these tokens.
Pyth Network
However, Pyth Network, a decentralised oracle service provider based on Solana, intends to unlock 2.13 billion tokens on March 20th, valued at roughly $1.25 billion, more than doubling the amount of tokens in circulation.
Pyth has not released a release since its November launch, with the token unlock. The purpose of the event is to reward early adopters, protocol creators, and ecosystem participants.
Avalanche, and so on. In addition to these massive unlocks, a plethora of additional projects are preparing for May token releases.
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