Cryptocurrency tokens worth more than $3 billion will be unlocked in May.
More than $3.1 billion worth of vested cryptocurrency assets are scheduled to launch in May, with projects like Sui and Pyth Network unlocking more than $1 billion worth of tokens each.
Cryptocurrency vesting is done to encourage continued commitment to a cryptocurrency project. Vested cryptocurrency tokens are locked to prevent early investors or team members from quickly abandoning their tokens and leaving the project.
Among the projects launching vested cryptocurrency assets, layer 1 blockchain platform Sui is expected to launch in the largest volume. The project is expected to unlock nearly 1 billion tokens for Series A and Series B investors, early contributors, Mysten Labs Treasury, and community reserves on May 31st.
As of this writing, the token is worth approximately $1.15 billion.
Meanwhile, market data platform Pyth Network is set to launch its second largest volume in May. On May 20th, the cryptocurrency project will unlock over 2 billion tokens for protocol development, ecosystem growth, publisher rewards, and private sale investors.
With Pyth Network (PYTH) hovering around $0.51 each, the tokens to be launched will be worth around $1.1 billion.
Related: After activating the transfer, secure tokens drop by 42%.
In addition to the two, projects such as Avalanche (AVAX), Aptos (APT), Arbitrum (ARB), Starknet (STRK), Optimism (OP), and Immutable (IMX) are set to launch tokens worth over $700 million combined.
On May 12, Aptos will release 11.3 million APT tokens worth $101 million to foundations, communities, core contributors, and investors. On May 22nd, Avalanche will unlock 9.5 million AVAX worth approximately $321 million for strategic partners, foundations, teams, and airdrops.
Layer 2 blockchain network Arbitrum plans to launch an additional $95 million in ARB tokens on May 16. Tokens will be allocated to the project team and investors. On March 16, Arbitrum had already launched $2.3 billion worth of tokens to its team and investors.
Additionally, Starknet will unlock $84 million in tokens for investors and early contributors on May 15th, and Immutable will unlock $56 million in crypto tokens for ecosystem and project development on May 17th. no see.
Layer 2 scaling solution Optimism plans to unlock 24.1 million OP tokens on May 29th. The token is worth approximately $70 million at current market prices. In May 2023, Optimism launched $587 million worth of OP tokens for early contributors and investors.
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