As April wraps up, the crypto market braces for a notable surge in unlocked tokens worth billions from projects like Pyth Network in May.
According to Token.Unlocks data, dYdX (DYDX) kicks off the unlocking spree on May 1, releasing $69.33 million for investors, founders, and future employees. Ethena, creators of the USDe stablecoin, will unlock ENA tokens worth over $53.6 million on the same day.
MEME follows suit on May 3, unlocking a hefty $136.87 million, with a significant portion allocated for an airdrop campaign. Advisors and investors will share the remainder.
Moving into the second week of May, Aptos (APT) takes the spotlight on May 12, unlocking 11.31 million APT tokens valued at around $101 million. Aptos recently partnered with major platforms like Microsoft to bolster its Aptos Ascend program.
Arbitrum (ARB) joins the unlocking spree on May 16, releasing 2.65 billion tokens into circulation, currently valued at approximately $97 million.
Meanwhile, Pyth Network gears up for the most substantial unlock on May 20, releasing 2.13 billion PYTH tokens, six months post-launch. These tokens will reward ecosystem participants, protocol developers, and early backers.
This unlock event will significantly boost PYTH’s circulating supply, more than doubling it from the current 1.5 billion. At present, the upcoming 2.13 billion PYTH tokens are valued at approximately $1.24 billion.
