PYTH Prepares for Massive $1.24B Token Unlock, Doubling Circulating Supply

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PYTH Prepares for Massive $1.24B Token Unlock, Doubling Circulating Supply
  • In May, crypto projects are poised for a token unlock surge, with billions of tokens set for release.
  • DYDX, Ethena, and MEME will unlock over $200 million in the first week of May.
  • PYTH will double its circulating supply with $1.24B tokens distributed to ecosystem participants.

As April winds down, the crypto market gears up to witness a significant influx of unlocked tokens worth billions of dollars from crypto projects like Pyth Network in May. 

Token.Unlocks data shows dYdX (DYDX) has the earliest unlock schedule, with $69.33 million set to be released on May 1 for investors, founders, and future employees. Ethena, the team behind USDe stablecoin, will also unlock ENA tokens worth over $53.6 million on May 1.

Following closely is MEME, with a more substantial $136.87 million to be unlocked on May 3. Of this value, 3.45 billion MEME tokens valued over $88 million are slated for airdrop campaign. Advisors and investors will take the other half, $26.6 million and $21.33 million, respectively. 

MEME coin unlock schedule | Token.Unlock

Meanwhile, Aptos (APT) will lead the unlock event in the second week of May. On May 12, the project will unlock an additional 2.65% of its circulating supply, amounting to 11.31 million APT tokens valued at approximately $101 million. Aptos has recently forged partnerships with major platforms like Microsoft to advance its Aptos Ascend program.

Arbitrum (ARB), the project that recently introduced Bounded Liquidity Delay (BOLD) on its testnet, will release 2.65 billion tokens into circulation on May 16. These tokens are currently valued at approximately $97 million.

Meanwhile, Pyth Network has the most staggering unlock schedule in May. On May 20, the project will release 2.13 billion PYTH tokens six months after its launch in November. These unlocked tokens will reward ecosystem participants, protocol developers, and early backers. 

Notably, the unlock will significantly increase PYTH’s circulating supply, more than doubling the current circulating supply of 1.5 billion. At press time, the coming 2.13 billion PYTH tokens are valued at approximately $1.24 billion.

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