Bittime - In May, the crypto market will witness the launch of its second token worth over $3 billion this year, as Token Unlocks data shows.
The release of these tokens is a gradual process where coins that were initially held to prevent early investors or team members from selling their holdings en masse in the beginning, are now starting to be released.
This mechanism consistently has a significant impact on overall market conditions by increasing selling pressure on digital assets.
Two Giants, Aevo and Pyth, Lead Huge Token Releases Worth Over $1 Billion Each
This May, the crypto market will see two major players, Aevo and Pyth, who will release their tokens in large quantities, with a value exceeding $1 billion each.
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Aevo Performance (AEVO)
Aevo is preparing to launch 827.6 million tokens worth $1.257 billion on May 15. The release of this token marks an incredible 758% increase in the current circulating supply.
These tokens will be distributed to various parties, including the DAO treasury, early private sale investors, and the project team, via a Layer-2 DEX roll-up that will release 6.13 million AEVO tokens daily during the May 16-24 period.
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Pyth Network Performance
On the other hand, Pyth Network, a decentralized oracle service provider built on the Solana blockchain, plans to double its circulating token supply by unlocking 2.13 billion tokens worth around $1.25 billion on March 20.
This token release, which is the first since Pyth's launch in November 2023, aims to provide incentives to ecosystem participants, protocol developers, and early Pyth supporters.
Avalanche (AVAX) Trails Aevo & Pyth Performance
Avalanche, a Layer 1 blockchain, will launch 9.54 million AVAX tokens worth $332 million on May 22. This launch marks the second major token release for the blockchain network this year.
dYdX, a leading DeFi protocol, will unlock 33.33 million tokens, representing 10% of its circulating supply, worth $71 million on the same day.
Ethena, the issuer of USDe (a USD-pegged stablecoin), will also release approximately 4% of its circulating supply, equivalent to 53.6 million ENA tokens, on May 22.
Not to forget, Memecoin, a popular memecoin, is preparing to launch 5.31 billion MEME tokens into circulation, valued at $141 million and representing 31.92% of the circulating token supply.
Additionally, several Ethereum layer-2 networks such as Arbitrum, Optimism, and Starknet are also scheduled to unlock their tokens this May.
Check Crypto Prices Today:
| USDT/IDR price | APT/IDR price |
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| BTC/IDR price | DOGE/IDR price |
| ETH/IDR Price | SEI/IDR price |
How to Buy Crypto on Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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Massive Liquidations Rock the Crypto Market in the Last Hour
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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