May preview: $1.25 billion Pyth unlock leads major token unlocks from Avalanche, Aptos, Arbitrum, and more
Looking ahead to May, the Pyth network’s first major token unlock since launch promises to unlock over $1.25 billion worth of tokens at current value. Plus, hundred-million unlocks from Avalanche, Aptos, Arbitrum, and Memeland.
Keeping track of a project's tokenomics can be important for crypto investors—especially when over one billion dollars worth of tokens is at stake. That's the case with the much-hyped Pyth Network PYTH -2.79% , which will unlock its first set of tokens to ecosystem participants in three weeks.
But aside from Pyth Network, several other projects in crypto plan to unlock hundreds of millions of dollars worth of tokens. Here are all the significant token unlocks coming up in the month of May, according to Token.Unlocks data.
Memecoin (Memeland): May 3, $150 million
It may be ironic that the coin with the name "Memecoin" ticker MEME -4.38% isn't, in fact, a memecoin. Memecoin, the token of comedy site 9GAG's Memeland project, will unlock 8.30% of its circulating supply at a current value of about $148 million, while also beginning regular unlocks for investors and advisors.
Aptos: May 12, $100 million
Aptos APT +0.0073% , one of two projects largely staffed by former members of Facebook's Libra currency project (the other one being Sui), will unlock another 2.65% of its circulating supply on May 12, 11.31 million tokens at a current value of around $100 million. Aptos recently announced partnerships with major platforms , including Microsoft, to build out its Aptos Ascend program.
Arbitrum: May 16, $100 million
Arbitrum ARB -1.27% , which recently launched Bounded Liquidity Delay, or BOLD, on testnet, will unlock 3.5% of its circulating supply on May 16. The tokens have a current value of about $100 million.
Pyth Network: May 20, $1.25 billion
RELATED INDICES
Pyth Network, the decentralized oracle service, will unlock its first batch of tokens six months after its launch last November, rewarding ecosystem participants, protocol developers, and early backers. The unlock will more than double pyth's circulating supply of 1.5 billion tokens, unlocking 2.13 billion pyth at a value of $1.25 billion according to current prices.
Avalanche: May 22, $325 million
Layer-1 network Avalanche AVAX -1.61% will continue its regular emissions, unlocking 9.54 million tokens, 2,5% of its circulating supply, at a current value of $325 million on May 22. Avalanche recently detailed the " community coins " it holds, which are memecoins connected to the Avalanche community.
Other significant unlocks
May 1: Decentralized exchange dYdX DYDX -2.52% will unlock 10% of its circulating supply at a current value of $71 million.
May 15: Ethereum Layer-2 Starknet will unlock 8.8% of its circulating supply at a current value of $80 million.
May 17: Web3 gaming firm ImmutableX IMX -2.39% will unlock 1.75% of its circulating supply at a current value of $54 million.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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