Token unlocks involve releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices.
However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are three major token unlocks to watch next week:
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#### Pyth Network (PYTH)
📅 Unlock Date: May 20
🔓 Number of Tokens Unlocked: 2.13 billion PYTH
💰 Current Circulating Supply: 1.5 billion PYTH
Pyth Network is a decentralized oracle that supplies real-time financial market data to blockchain applications. The PYTH token has a maximum supply of 10 billion, and on May 20, the project will unlock 2.13 billion tokens, which exceeds the current circulating supply.
Impact: The crypto community is divided on how this will affect PYTH's price. Some predict a significant price drop, while others trust the tokenomics to maintain stability.
🗣️ Community Insight: “Pythunlock worth $910M is on 20th May. 141.67% of current supply is being unlocked. AEVO dumped 25% after the unlock. Most of PYTH holders have staked so they can’t sell their bags. Regardless i am looking for shorting setups,” one crypto trader noted.
🔗 Read More: [What Is a Blockchain Oracle? An Introductory Guide](#)
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#### Avalanche (AVAX)
📅 Unlock Date: May 22
🔓 Number of Tokens Unlocked: 9.54 million AVAX
💰 Current Circulating Supply: 382.77 million AVAX
Avalanche is a decentralized blockchain platform that offers high performance and scalability for dApps and custom blockchain networks. On May 22, over 9 million AVAX tokens will be unlocked, distributed among strategic partners, the Avalanche Foundation, the team, and airdrop participants.
🔗 Read More: [11 Best Avalanche (AVAX) Wallets to Consider in 2024](#)
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#### Space ID (ID)
📅 Unlock Date: May 22
🔓 Number of Tokens Unlocked: 18.49 million ID
💰 Current Circulating Supply: 430.5 million ID
Space ID is a decentralized identity protocol that helps users securely manage their online identities across various blockchain platforms. On May 22, the project will add 18 million ID to the circulating supply, mostly allocated to the Space ID Foundation, the ecosystem fund, and airdrop participants.
🔗 Read More: [Which Are the Best Altcoins To Invest in May 2024?](#)
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💡 Conclusion: Although token unlocks are often considered bearish, a well-planned schedule can enhance a project’s long-term viability. Aligned with milestones and development progress, unlocks will motivate team members, boost community engagement, and promote ecosystem growth.
Stay informed and make strategic decisions! 🧠
#Token2049 #CryptoWatchMay2024 #Pyth #AVAX #SpaceID
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