Impending Massive Token Unlocks Set to Shake Crypto Market
Sunday, 19 May 2024, 12:55
Summary:
Over $1 billion in token unlocks are set to hit the cryptocurrency market, sparking concerns of a potential sell-off event, particularly impacting Pyth Network (PYTH) and Avalanche (AVAX) investors. The upcoming releases totaling $1.27 billion are led by PYTH with $905.72 million and AVAX with $348.18 million. Despite the inflationary pressure, positive price performance may still be possible in the volatile market.
Details:
- Pyth Network will unlock 2.13 billion tokens on May 20, with substantial portions allocated to Ecosystem Growth, Publisher Reward, and Protocol Development.
- Avalanche will release 9.55 million AVAX tokens on May 22, primarily distributed among the Team, Strategic Partners, and Foundation.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.