Big Token Unlocks Scheduled This Week: There's PYTH, EUL, AVAX, DOT

Bittime -  Holders of some cryptocurrency projects should be aware of upcoming token unlocks that may affect market prices. This article will detail the major releases that occurred this week, according to Token Unlocks data. Check out the details for unlocking PYTH , AVAX, ID, EUL, ACA and DOT tokens here!

Pyth Network (PYTH) Faces Biggest Unwind

• Release Date: May 20, 2024 (10:00 PM PST)
• Amount Released: 2.13 billion PYTH
• Percentage of Circulating Supply: 141.67%
• Estimated Value: US$812 million

This week's biggest release by value belonged to Pyth Network (PYTH). With 2.13 billion PYTH tokens scheduled for release, this represents a significant portion (over 141%) of the current circulating supply. Investors and traders should closely monitor how the market reacts to this PYTH entry, as it has the potential to cause price fluctuations.

Also Read How to Buy Crypto:

Avalanche (AVAX) and SPACE ID (ID) Experienced Moderate Release

• Avalanche (AVAX):
  • Release Date: May 22, 2024 (4:00 AM PST)
  • Amount Released: 9.54 million AVAX
  • Percentage of Circulating Supply: 2.49%
  • Estimated Value: US$340 million
• SPACE ID (ID):
  • Release Date: May 22, 2024 (4:00 AM PST)
  • Amount Released: 18.49 million ID
  • Percentage of Circulating Supply: 4.29%
  • Estimated Value: US$14.26 million

Although smaller compared to PYTH, Avalanche (AVAX) and SPACE ID (ID) both have token releases scheduled this week. These represent several percentage points of their respective circulating supply and can potentially impact their price.

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Minor Releases Expected for EUL, ACA, and DOT

• Euler (EUL):
  • Release Date: May 24, 2024 (12:17 AM PST)
  • Amount Released: 64,000 EUL
  • Percentage of Circulating Supply: 0.34%
  • Estimated Value: US$36,100
• Acala (ACA):
  • Release Date: May 25, 2024 (4:00 AM PST)
  • Amount Released: 4.66 million ACA
  • Percentage of Circulating Supply: 0.48%
  • Estimated Value: US$507,000
• Polkadot (DOT):
  • Release Date: May 26, 2024 (4:00 AM PST)
  • Amount Released: 401,230 DOT
  • Percentage of Circulating Supply: 0.03%
  • Estimated Value: US$2.87 million

The remaining releases on the list - Euler (EUL), Acala (ACA), and Polkadot (DOT) - are all relatively small. Representing a small percentage of their circulating supply, these releases are unlikely to have a significant impact on their respective market prices.

Conclusion

Several cryptocurrency projects will experience token releases this week. Although the Pyth Network (PYTH) release is by far the largest, investors and traders should remain alert about all upcoming releases, as they have the potential to impact the price of the token. 

Following trusted sources for token release data and monitoring market activity can help you make informed decisions about your cryptocurrency holdings.

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General Questions About Unlock Tokens

1. What is meant by Token Unlock?

Token Unlock is the process by which previously locked or restricted access tokens become available for use, trading, or distribution. This process often occurs in the context of crypto projects and ICOs (Initial Coin Offerings), as well as various incentive and investment programs in the blockchain space. 

2. When to Unlock Sui Tokens?

For Sui (SUI) tokens, the unlock schedule is designed to last for several years to maintain network stability. The SUI token unlock occurred on April 3, 2024, when 34.62 million SUI tokens were released, which is around 2.81% of the circulating supply​ 

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.

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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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.