May Token Unlock Bonanza: $3 Billion in Assets Set to Flood the Crypto Market

With May upon us, $3 billion worth of tokens are set to unlock across seven projects, data from TokenUnlocks reveals. The two largest unlocks will come from decentralized finance oracle network Pyth and crypto derivatives platform Aevo (formerly Ribbon Finance).

Schedule for May Token Unlocks Unveiled: $3 Billion Worth of Assets to Hit the Market

As the month of May gracefully unfurls its presence, data from TokenUnlocks reveals a staggering $3 billion worth of tokens poised to be unlocked across seven distinct projects, creating a potential ripple effect within the cryptocurrency landscape.

Defi Oracle Pyth and Derivative Platform Aevo Lead the Unlocking Parade

Two prominent unlocks that tower above the rest belong to the DeFi oracle network Pyth and the crypto derivatives platform Aevo (formerly Ribbon Finance).

Pyth's $1.24 Billion Unlock: A Cliffhanger

Widely touted DeFi oracle network Pyth stands at the forefront of these unlocks, with its inaugural token release scheduled for May 20th at 2PM UTC. A colossal 2.13 billion PYTH tokens, roughly $1.24 billion worth at current prices, are slated to flood the market.

This unlock follows a distinctive cliff structure, implying a substantial release of tokens at once rather than a gradual distribution over an extended period. Notably, Pyth has a subsequent unlock of equal magnitude lined up for May 2024, with another 2.13 billion tokens set to be released a year after that.

Aevo's Hybrid Approach: A Blend of Linear and Cliff

In contrast to Pyth's cliffhanger, Aevo will employ a hybrid approach, combining linear and cliff unlocks. Linear unlocks release a specified amount of tokens daily, while cliff unlocks distribute a large quantity at a single point in time.

On May 15th, Aevo will unleash 827.6 million AEVO tokens ($1.24 billion) into the market. Subsequently, for the following nine days, a daily release of 6.13 million AEVO tokens ($9.20 million) will occur.

Over $2.5 Billion from Pyth and Aevo Alone

Collectively, these two projects will inject over $2.5 billion into the crypto market, potentially affecting supply and demand dynamics.

Other Notable Unlocks Join the Fray

While not reaching the billion-dollar mark, several other unlocks are worth noting, involving millions of tokens entering circulation.

Ethereum Rival Avalanche Releases $329 Million

On May 22nd, Ethereum competitor Avalanche will release 9.54 million AVAX tokens ($329.19 million), distributed among the team, foundation, strategic partners, and an airdrop of 1.13 million AVAX ($38.81 million).

Memecoin MEME Unleashes $148 Million

Memecoin, a self-proclaimed speculative asset with no utility or roadmap, will release 5.31 billion MEME tokens ($147.95 million) on May 3rd, followed by a linear release of 49.47 MEME tokens ($1.38 million) per day for the next 184 days.

Layer-2 Solution Arbitrum Distributes $103 Million

Ethereum Layer-2 scaling solution Arbitrum will unlock 92.65 million ARB tokens ($103.76 million) on May 16th, allocated entirely to the team, future team, advisors, and investors.

Aptos, ApeCoin, and More Join the Unlocking Spree

Other notable unlocks include Aptos releasing 11.31 APT tokens ($102.1 million) on May 12th, and Bored Ape-themed ApeCoin distributing 15.6 million APE tokens ($19.97 million) on May 17th.

Potential Market Impact

The influx of these tokens into the market has the potential to impact supply and demand dynamics, potentially influencing price movements and volatility. Investors and traders are advised to monitor these unlocks closely and assess their strategies accordingly.

About TokenUnlocks

TokenUnlocks is a data platform that tracks and analyzes token unlock schedules, providing insights into potential market implications and enabling investors to make informed decisions.