- Not less than 20 crypto projects will release tokens worth over $10 million in May.
- The cumulative value of the tokens to be released in May amounts to $3.661 billion.
- AEVO and PYTH will each inject over $1B into the crypto market in May.
According to Token Unlock, the platform that provides information on how restricted tokens are introduced into the crypto market, not less than 20 crypto projects will release tokens worth over $10 million in May. The platform’s data shows that the projects will cumulatively release up to $3.661 billion into the crypto market in May.
According to Colin Wu, a foremost Chinese crypto journalist, the crypto tokens identified by Token Unlock for significant token releases in May include DYDX, ENA, SUI, MEME, GAL, MAVIA, and APT. Others include STRK, AEVO, ARB, APE, IMX, ROSE, PIXEL, and PYTH. AVAX, ID, YGG, OP, and PRIME will also release tokens worth over $10 million each to complete the list.
Wu singled out two exceptional crypto projects whose token releases in May will each exceed $1 billion. They include the Aevo decentralized exchange’s AEVO token, which will release 827.6 million tokens on May 15. The total value of the tokens to be released was worth over $1.25 billion at the time of Wu’s report. This amount represents 757.95% of AEVO’s current circulating supply.
The second significantly large token release spotted by Wu in May is Pyth Network’s PYTH, scheduled for May 20. The market data-providing platform plans to release 2.13 billion PYTH on the scheduled date. At the time of Wu’s reporting, the value of the tokens to be released was approximately $1.21 billion, reflecting 141.67% of PYTH’s circulating supply.
Token Unlock details provide ideas to crypto users, preparing them for the eventual economic dynamics to be introduced into the crypto market. It has the potential to influence market sentiments as most users would adapt their investment strategies to absorb the influx of tokens into the marketplace.
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