[PYTH is preparing for large-scale token unlocking to double the circulating supply]
As April comes to an end, the crypto market is gearing up to see billions of dollars in token unlocks in May from multiple crypto projects such as Pyth Network.
According to data from Token.Unlocks, dYdX (DYDX) will be the first to be unlocked on May 1, releasing tokens worth $69.33 million to investors, founders and future employees. On the same day, the Ethena team will unlock the ENA token behind the USDe stablecoin worth over $53.6 million.
Then, MEME will unlock tokens with a total value of US$136.87 million on May 3, of which 3.45 billion MEME tokens worth US$88 million will be used for airdrop activities. Advisors and investors will receive US$26.6 million and US$21.33 million in tokens respectively. currency.
Aptos (APT) will lead an unlocking event in the second week of May, with plans to unlock an additional 2.65% of the circulating supply worth approximately $101 million, equivalent to 11.31 million APT tokens, on May 12. Aptos has recently forged partnerships with major platforms such as Microsoft to advance its Aptos Ascend program.
Additionally, Arbitrum (ARB) will release 2.65 billion tokens on May 16, which are currently worth approximately $97 million.
Pyth Network will have its largest unlocking plan in May. On May 20, the project will release 2.13 billion PYTH tokens to reward ecosystem participants, protocol developers and early supporters. This unlock will more than double the circulating supply of PYTH from the current 1.5 billion, with the unlocked tokens worth approximately $1.24 billion.
