As a researcher with experience in the cryptocurrency industry, I find the upcoming $10 billion worth of token unlocks from 19 projects intriguing. The practice of releasing tokens in stages, including lock-up periods, is common among protocols that raise funds through venture capitalists and independent investors.
nineteen cryptocurrency initiatives are set to distribute over ten million dollars’ worth of coins during this month, according to TokenUnlocks data.
In the world of cryptocurrencies, some projects choose not to release the entire supply of their token for sale on public markets right away. This is a common approach among projects that secure funding through investments from venture capitalists and individual backers instead.
One possibility: The allocated share of the total token issuance will be bound by a vesting plan, referred to as a lock-up period. Throughout this term, token holders, including investors and project backers, are prevented from cashing out their crypto holdings or putting them up for sale on digital markets. However, certain protocols grant the option of staking or earning yields on locked tokens.
19 major crypto unlocks this month
Among the 19 ongoing projects, two are expected to distribute approximately $3.66 billion in tokens this month. One of these is Pyth Network (PYTH), a provider of oracle services, which plans to introduce around 2.13 billion tokens into circulation. These new tokens, currently valued at roughly $1.2 billion, will reportedly increase the total supply by more than double according to TokenUnlocks.
Despite the significant distribution, the circulating PYTH tokens on trading platforms still fall significantly short of Pyth’s approximate total token count of almost 10 billion according to CoinMarketCap.
Approximately 827 million Aevo (AEVO) tokens are set to be released within the next 10 days, significantly expanding the protocol’s existing token pool by more than sixfold. Notably, Aevo’s decentralized exchange supports options, perpetual, and pre-launch trading. The total supply of AEVO tokens is capped at one billion, with only 110 million currently in circulation. The market worth of the tokens scheduled for release surpasses $1.2 billion.
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2024-05-01 21:14