2024-05-01
According to Token Unlock, a platform that offers insights into the introduction of restricted tokens in the crypto market, more than 20 crypto projects are set to release tokens worth over $10 million in May.
The data from the platform indicates that these projects will collectively introduce a total of $3.661 billion into the crypto market during the month.
Colin Wu, a prominent Chinese crypto journalist, has identified several crypto blockchain that will experience significant releases in May, as highlighted by Token Unlock. 
These tokens include DYDX, ENA, SUI, MEME, GAL, MAVIA, APT, STRK, AEVO, ARB, APE, IMX, ROSE, PIXEL, PYTH, AVAX, ID, YGG, OP, and PRIME. Each of these projects will release tokens worth over $10 million.
Wu has specifically pointed out two exceptional crypto projects that will each surpass $1 billion in token releases in May.
One of them is the AEVO token from Aevo decentralized exchange, which will release 827.6 million tokens on May 15.
At the time of Wu's report, the total value of these tokens was over $1.25 billion, equivalent to 757.95% of AEVO's circulating supply.
The second notable token release highlighted by Wu is PYTH from Pyth Network, scheduled for May 20. The platform plans to release 2.13 billion PYTH tokens on that date.
At the time of Wu's report, the value of these tokens was approximately $1.21 billion, which represents 141.67% of PYTH's circulating supply.
The insights provided by Token Unlock offer valuable information to crypto users, enabling them to anticipate the economic dynamics that will be introduced into the crypto market.
This information has the potential to influence market sentiments, as users may adjust their investment strategies to accommodate the influx of tokens into the marketplace.
The article "AEVO and PYTH To Inject Over $1B Each Into The Crypto Market in May" was originally published on Coin Edition.
