May crypto token unlocks valued over $3.6b

TokenUnlocks data revealed that approximately 19 crypto projects are scheduled to put at least $10 million worth of coins into circulation this month.

In the cryptocurrency industry, projects sometimes avoid launching the maximum supply of the token on the open market. The practice is common in protocols that raise funds through venture capitalists and independent investors.

A portion of the token supply will then be subject to a vesting schedule known as the lock-in period. During this period, investors and contributors cannot cash out their crypto assets or sell them on exchanges, although some protocols allow staking and earning returns on earned tokens.

19 major cryptocurrencies unlocked this month

Among the 19 projects that will unlock approximately $3.66 billion worth of tokens this month, two protocols stand out. Pyth Network (PYTH), an Oracle service provider, will issue approximately 2.13 billion tokens, currently valued at $1.2 billion. According to TokenUnlocks, PYTH tokens entering circulation will more than double the supply.

Despite the mass release, tradable PYTH tokens remain far from Pyth’s total supply of approximately 10 billion per CoinMarketCap.

More than 827 million Aevo (AEVO) tokens will be unlocked in 10 days this month, increasing the protocol’s current supply more than sevenfold. Aevo offers options and permanent and pre-launch trading capabilities on its decentralized exchange. AEVO’s maximum supply is one billion, but only 110 million are in circulation. The market value of AEVO tokens to be unlocked is over $1.2 billion.