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Brace for $4 billion worth of crypto token unlocks in May

2024/08/3119:20:02來源:互聯網
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In May, the cryptocurrency industry will unlock $4 billion worth of tokens among 21 different projects, anticipating a significant sell-off. These token unlocks constitute the cryptocurrencies supply inflation, with drastic economic effects that could impact prices and investors’ results.

Notably, the renowned crypto journalist Colin Wu spotted $3.661 billion worth of tokens to unlock in May. Wu reported the forecasted unlocks according to data from TokenUnlocksApp in a post on X on April 30.

In particular, the unlocks of Aevo (AEVO) and Pyth Network (PYTH) total nearly $2.5 billion worth of tokens. With over $1.2 billion each, they dominate May’s total unlocks by around two-thirds.

Ripple (1) treasury account activity. Source: XRPScan

As the beneficiaries move to realize the profit from the received assets, prices may crash proportionally to the sell-off weight over each cryptocurrency market cap and exchange volume.

Other projects that Wu mentioned in the report are DYDX, ENA, SUI, MEME, GAL, MAVIA, APT, STRK, ARB, APE, IMX, ROSE, PIXEL, AVAX, ID, YGG, OP, PRIME.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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欧意OKX交易平台是一家非常优秀的数字货币交易APP,用户可以通过手机在线交易投资任何数字资产,点击可下载欧意OKX APP,查看更多详情!
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