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Crypto Market Watch, May 2024: $3.58 Billion Could Trigger Volatility

As May approaches, BeInCrypto has identified notable token opening events that are expected to impact the crypto market. According to data from TokenUnlocks, in May 2024, the crypto market will see approximately $3.58 billion worth of tokens put into circulation.

This influx of liquidity will likely create ripples across various digital assets, especially for the Pyth Network (PYTH), Aevo (AEVO), and Avalanche (AVAX), which are leading token opening events this month.

Major version of the Pyth network

Token unlocking is crucial for cryptocurrencies because they introduce tokens previously unavailable to the public market, often leading to price volatility. Represent The large sum that comes in The crypto market next month presents opportunities and challenges for traders and investors.

And she plans Python Network , which is leading this mission, unlocked 2.13 billion PYTH tokens on May 20, worth approximately $1.24 billion. This version is divided into several categories:

  • The publisher's rewards represent 537.50 million PYTH worth $313.62 million.

  • The growing ecosystem will receive 1.13 billion PYTH, which is equivalent to $656.40 million.

  • Distributed 212.50 million PYTH worth $123.99 million to develop the protocol.

  • The private sale will see the release of 250 million PYTH, worth $145.87 million.

“Buy after getting rid of many unlock codes here, this can be one of the most free offers, especially since the next unlock is in 12 months,” He said Gould, pseudonymous cryptographer.

PYTH token unlocked in May 2024.
Open the PYTH code. Source: TokenUnlocks

AEVO advances

Preparing Aevo Issue 827.6 million AEVO tokens on May 15, with a total market capitalization of $1.24 billion. Here are the details:

  • Investors in the initial private sale will claim 172.97 million AEVO worth $259.45 million.

  • The team's allocation consists of 215.04 million AEVO, for a total of $322.56 million.

  • The DAO treasury will receive an allocation of 336.59 million AEVO, worth $504.88 million.

  • 103 million AEVO worth $154.50 million for other purposes.

The AEVO token opened in May 2024.
Unlock the AEVO code. Source: TokenUnlocks

Distribution scheduled for Avalanche

Avalanche is also preparing for a major token release on May 22, with 9.54 million tokens available. AVAX Worth $329.19 million. The distribution plan includes the following elements:

  • Strategic partners will receive 2.25 million AVAX, worth $77.63 million.

  • Ecosystem growth initiatives will receive an allocation of 1.67 million AVAX, worth $57.50 million.

  • Team members will have access to 4.50 million AVAX, totaling $155.25 million.

  • Allocate 1.13 million AVAX, worth $38.81 million, for airdrops.

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Open the avax code. Source: TokenUnlocks

$147.95 million from unlocking MEME token

Meanwhile, Memecoin is preparing to launch a major token on May 3, 2024, with 5.31 billion MEME tokens worth approximately $147.95 million. The unlock structure is as follows:

  • A significant amount of 3.45 billion MEME, worth $96.07 million, was allocated for the airdrop.

  • Advisory roles will be recognized with 1.04 billion MEME, or an amount of $28.82 million.

  • 828 million MEME will be allocated to investors, worth $23.06 million.

Open APT code
Open the MEME code. source: Unlock the token

Aptos strategic allocation

I specified Aptos The opening date for 11.31 million APT tokens is set for May 12, 2024, with a total value of $102.01 million. Details of this unlock include:

  • The foundation will receive 1.33 million APTs, valued at $12.03 million.

  • The community will receive an allocation of 3.21 million APT, worth $28.96 million.

  • Major shareholders will have access to 3.96 million APT, worth $35.70 million.

  • Investors will receive an allocation of 2.81 million APT, for a total of $25.33 million.

Learn more: A Complete Guide to the Aptos (APT) Cryptocurrency and Its Network

Opens the APT code. Source: TokenUnlocks

Additionally, smaller but significant openings include dYdX (DYDX), Sui (SUI), and Ethena (ENA).

These additional openings are part of a broader trend where increased token liquidity converges with both enthusiasm for potential growth and a cautious assessment of market impact. For investors, understanding the details of each opening is essential. Including The number of tokens issued and its intended use and general market conditions at that time.

As the market prepares for these and other openings, investors should maintain a strategy that accounts for potential increases in token supply and resulting price movements. It will be essential to observe how these tokens fit into their respective ecosystems.

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