The crypto community is bracing for a significant influx of new tokens in May, as several prominent projects prepare to unlock vested crypto assets worth over $3.1 billion. According to data from Token Unlocks, a tracker of token unlocking events, projects like Sui, Pyth Network, Avalanche, Aptos, and Arbitrum are among those scheduled to release substantial amounts of their respective tokens.
Leading the pack is Sui, a layer-1 blockchain platform, which is expected to unlock almost one billion tokens on May 31. These tokens, valued at around $1.15 billion at the time of writing, are allocated for Sui’s Series A and Series B investors, early contributors, the Mysten Labs treasury, and its community reserve. This massive unlock is a testament to the project’s growth and the confidence of its investors.
Hot on Sui’s heels is Pyth Network, a market data platform, which will release over two billion tokens on May 20. These tokens, worth approximately $1.1 billion at Pyth Network’s current token price of $0.51, are earmarked for protocol development, ecosystem growth, publisher rewards, and private sale investors. This unlock highlights the project’s commitment to expanding its ecosystem and rewarding its stakeholders.
Beyond these two major unlocks, several other projects are also set to release substantial amounts of vested crypto tokens. Avalanche, a popular layer-1 blockchain, will unlock 9.5 million AVAX tokens worth around $321 million on May 22, intended for its strategic partners, foundation, team, and airdrop recipients.
Aptos, another layer-1 blockchain, will release 11.3 million APT tokens worth $101 million on May 12. These tokens are allocated to the Aptos foundation, community, core contributors, and investors, showcasing the project’s dedication to its stakeholders.
Layer-2 blockchain networks are not being left behind in this token unlock frenzy. Arbitrum, a prominent layer-2 solution, will release $95 million in ARB tokens on May 16, allocated to its team and investors. This follows a massive $2.3 billion unlock in March for the same stakeholders.
Other notable projects releasing vested tokens include Starknet ($84 million on May 15), Immutable ($56 million on May 17), and Optimism ($70 million on May 29). These unlocks demonstrate the growing maturity of the crypto ecosystem and the commitment of projects to reward their early supporters and contributors.
As the crypto market braces for this influx of new tokens, the impact on token prices and market dynamics remains to be seen. However, one thing is clear: the vesting and gradual unlocking of tokens are integral mechanisms for promoting continued dedication to crypto projects and ensuring a stable and sustainable ecosystem.
