tl;dr
In May, several crypto projects are set to unlock billions of tokens, with DYDX, Ethena, and MEME unlocking over $200 million in the first week. PYTH will double its circulating supply with $1.24 billion tokens distributed to ecosystem participants on May 20. Other projects like Aptos and Arbitrum w...
In May, the crypto market is set to experience a surge in token unlocks, with billions of tokens scheduled for release from various projects, including dYdX, Ethena, MEME, Aptos, Arbitrum, and Pyth Network.
dYdX, Ethena, and MEME are expected to unlock over $200 million in the first week of May, while Pyth Network will double its circulating supply with the distribution of $1.24 billion tokens to ecosystem participants on May 20.
The unlock events are significant, with dYdX (DYDX) releasing $69.33 million on May 1, Ethena unlocking over $53.6 million worth of ENA tokens on the same day, and MEME releasing a substantial $136.87 million on May 3. Aptos is set to unlock 11.31 million APT tokens worth approximately $101 million on May 12, while Arbitrum will release 2.65 billion tokens valued at around $97 million on May 16. Pyth Network's unlock of 2.13 billion tokens, valued at approximately $1.24 billion, on May 20 is expected to significantly increase its circulating supply.
As April comes to a close, the impending token unlocks in May are poised to bring about substantial changes in the crypto market's landscape, with billions of dollars' worth of tokens set to flood the market from various projects. These unlocks will undoubtedly impact the trading dynamics and investor sentiment in the crypto space. The unlock events from dYdX, Ethena, MEME, Aptos, Arbitrum, and Pyth Network hold the potential to shape the market trend and influence investment strategies for the foreseeable future.
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