On 5/20/05 (Monday), more than 10 billion tokens will be unlocked in the cryptocurrency market. This could lead to massive sell-offs that will primarily affect investors in the Pyth (PYTHON) and Avalanche (AVAX) networks.
Earlier on May 5, Finbold announced that over 440 billion worth of tokens would be unlocked in several projects. Last week, Aevo (AEVO) unlocked 110 billion and called this #cryptocurrency a cryptocurrency to avoid trading because of this inflation.
Well, in the next 7 days, the market will see the unlocking of 6 billion yen worth of tokens from 127,000 cryptocurrencies. #PYTH amounted to 905.72 million yen and the supply increased by 141.7 percent.
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In addition, #Avalanche will issue #AVAX for 34,818 million, while SpaceID (ID), Acala (ACA), Euler (EUL) and 1inch (1INCH) make up the remaining 1,610 million. Finbold received this data from TokenUnlocksApp on 19.05.
Unlocking the Pyth network opens the inflationary week with the issuance of 5 million 20/213,000 tokens. More than half of this amount is reserved for the growth of the ecosystem, which is controlled and distributed by the Pyth team. Similarly, $320 million in rewards is reserved for rewards publishers and protocol development, while $2,250 million is reserved for "private sale" investors.
As of this writing, the Python network is trading at 00.42 with a market value of 663,000 and a turnover of PYTHON 1.5 billion. Hence, crypto traders should expect the mass unlocking of tokens to affect their prices over the next few weeks of sales.
Avalanche, on the other hand, will continue to unlock its monthly tokens on September 22. As in previous months, the protocol issued 955 million AVAX, this time worth almost $BTC As for the distribution, the team will receive 16,500 million AVAX, which is currently worth about $450 million.
In addition, strategic partners and funds will increase their financial resources by 2.25 million and 1.67 million respectively.
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