banner

Insights into May’s Token Unlocking Events in the Crypto Market

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.

banner

Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

Follow Us

Top Selling Multipurpose WP Theme

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

banner

Crypto feed news

Our team of crypto enthusiasts and market mavens is on a mission to deliver the latest, juiciest, and most insightful updates from the ever-evolving world of cryptocurrencies.

@CryptoFeedNews 2023 All Right Reserved. Designed and Developed by TheDevThingz

Skip to content