Find Out 3 Major Token Unlocks of Next Week
The post Find Out 3 Major Token Unlocks of Next Week appeared on BitcoinEthereumNews.com.
Token unlock involves releasing tokens that were previously blocked under fundraising terms. Projects carefully schedule these releases to avoid market pressure and prevent a drop in token prices. However, factors like lack of liquidity or early investor profit-taking can significantly impact an asset’s dynamics. Here are three major token unlocks to watch next week. Pyth Network (PYTH) Unlock date: May 20 Number of tokens unlocked: 2.13 billion PYTH Current circulating supply: 1.5 billion PYTH Pyth Network is a decentralized oracle that supplies real-time financial market data to blockchain applications. It gathers high-quality pricing information from various sources, including trading firms and exchanges. The project aims to improve the accuracy and reliability of data used in smart contracts and decentralized finance (DeFi) platforms. The PYTH token has a maximum supply of 10 billion. On May 20, the project will unlock 2.13 billion tokens, which exceeds the current circulating supply. Approximately 800 million PYTH will go to private sale participants and publishers, with the remainder allocated for protocol development and ecosystem growth. Crypto community members have polarized opinions on how the unlock will affect PYTH price. Some believe the altcoin is headed for a significant collapse, while others are confident that tokenomics design will allow it to hold its ground. “Pyth unlock worth $910M is on 20th May. 141.67% of current supply is being unlocked. AEVO dumped 25% after the unlock. Most of PYTH holders have staked so they can’t sell their bags. Regardless i am looking for shorting setups,” one crypto trader noted. Read more: What Is a Blockchain Oracle? An Introductory Guide PYTH Token Unlock. Source: TokenUnlocks Avalanche (AVAX) Unlock date: May 22 Number of tokens unlocked: 9.54 million AVAX Current circulating supply: 382.77 million AVAX Avalanche is a decentralized blockchain platform that delivers high performance and scalability, enabling developers to…
Filed under: News - @ May 19, 2024 5:16 pm