Discover the 5 best unlocked tokens of May 2024

As May approaches, BeInCrypto has identified noteworthy token unlock events set to influence the market. According to data from TokenUnlocks, in May 2024, the cryptocurrency market will see approximately $3.58 billion worth of tokens released into circulation.

This influx of liquidity will potentially create waves across various digital assets, most notably for Pyth Network (PYTH), Aevo (AEVO), and Avalanche (AVAX), which titles the month’s token unlock events.

The main version of Pyth Network

Token unlocks are critical for cryptocurrencies, as they introduce previously unavailable tokens into the public market, often driving up prices volatility. THE considerable quantities enter the market The coming month presents both opportunities and challenges for traders and investors alike.

Leading the charge, Pyth Network plans to unlock 2.13 billion PYTH tokens on May 20, worth approximately $1.24 billion. This version is divided into several categories:

• Publisher rewards represent 537.50 million PYTH worth $313.62 million.
• Ecosystem Growth will receive 1.13 billion PYTH, equivalent to $656.40 million.
• A distribution of 212.50 million PYTH worth $123.99 million for the development of the protocol.
• Private sales will see the release of 250 million PYTH, for a total of $145.87 million.

“Buying after many unlocked tokens have been dumped here, it could be one of the freest trades around, especially since the next unlock will be after 12 months,” said Gold, a cryptocurrency researcher under the pseudonym She said.

To know more: 11 Cryptocurrencies to Add to Your Portfolio Before Altcoin Season

Unlocking the PYTH token. Source: Unlocks via token

Aevo steps forward

Not far behind, Aevo is preparing to release 827.6 million AEVO tokens on May 15, with a total market value of $1.24 billion. The details are as follows:

• The sale’s initial private investors will claim 172.97 million AEVOs valued at $259.45 million.
• The team’s allocation includes 215.04 million AEVO, for a total of $322.56 million.
• THE DAO the Treasury will receive a share of 336.59 million AEVO, worth $504.88 million.
• 103 million AEVO worth $154.50 million for RBN remaining in circulation.

Unlocking AEVO token. Source: Unlocks via token

Scheduled release of Avalanche

Avalanche is also gearing up for a significant token release on May 22, with 9.54 million AVAX Tokens worth $329.19 million. The distribution plan includes:

• Strategic partners will receive 2.25 million AVAX, valued at $77.63 million.
• Ecosystem growth initiatives will receive a sum of 1.67 million AVAX, valued at $57.50 million.
• Team members will access 4.50 million AVAX, for a total of $155.25 million.
• An allocation of 1.13 million AVAX, worth $38.81 million, for airdrops.

Unlocking the AVAX token. Source: Unlocks via token

MEME Token Unlocking for $147.95 Million

Meanwhile, Memecoin is preparing for a significant token unlock on May 3, 2024, with 5.31 billion MEME tokens valued at approximately $147.95 million. The unlock structure is as follows:

• A substantial 3.45 billion MEME, worth $96.07 million, is earmarked for airdrop.
• Advisory roles will be awarded 1.04 billion MEME, for a total of $28.82 million.
• Investors will be awarded 828 million MEME, worth $23.06 million.

Unlocking the MEME token. Source: Unlocks via token

Aptos strategic allocation

Aptos predicted an unlock of 11.31 million APT tokens on May 12, 2024, with a total value of $102.01 million. Details of this unlock include:

• The foundation will receive 1.33 million APP worth $12.03 million.
• The community will receive an allocation of 3.21 million APT, worth $28.96 million.
• Top contributors will have access to 3.96 million APTs, valued at $35.70 million.
• Investors will receive a share of 2.81 million APT, for a total of $25.33 million.

To know more: A definitive guide to the Aptos cryptocurrency (APT) and its network

APT token unlocks. Source: Unlocks via token

Additionally, smaller but significant unlocks include dYdX (DYDX), Come on (SUI) and Ethena (ENA).

These additional unlocks are part of a larger trend in which increased token liquidity is met with both enthusiasm for potential growth and cautious assessment of market impact. For investors, understanding the specifics of each unlock is vital. This includes the quantity of tokens releasedthe intended use and general market conditions at that time.

While the market prepares for these and other unlocks, investors should maintain a strategy that takes into account potential increases in token supply and resulting price movements. It will be crucial to observe how these tokens integrate into their respective ecosystems.

Disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to providing impartial and transparent reporting. This news article aims to provide accurate and timely information. However, readers are advised to independently verify the facts and consult a professional before making any decisions based on this content. Please note that our Terms and conditions, Privacy PolicyAND Disclaimer They have been updated.

Fuente