The unlocking of these tokens could have an impact on their market dynamics.
Several crypto projects are poised for significant token releases in May, with Aavo, Pyth Network, Memecoin, and Starknet at the forefront. Data from Token Unlocks indicates that these projects will experience the largest token unlocks this month.
Memecoin (MEME) released 5.31 billion tokens, constituting about 31% of its circulating supply and worth nearly $128 million today.
Aavo is set to release 827.6 million AAVO tokens on May 15, valued at around $1.1 billion. These tokens are allocated to initial private sale investors, the team, DAO Treasury, and the remaining RNB in circulation (this is part of the tokenomic transition process from RBN tokens to AEVO tokens).
Following Aavo, Pyth Network will unlock 2.13 billion PYTH tokens on May 20, with an estimated value of $1.1 billion. This release will benefit data publishers, private sale investors, protocol development, and ecosystem growth.
Starknet’s token unlock is scheduled for May 16. 64 million STRK tokens will be released, accounting for almost 8.8% of the circulating supply and valued at around $82 million. These tokens are designated for the project’s early contributors and investors.
Other notable token unlocks include Aptos (APT), Arbitrum (ARB), and Avalanche (AVAX).
Aptos will unlock 11.31 million tokens, accounting for 2.65% of the circulating supply and worth 103 million on May 12.
Arbitrum will unlock 92.65 million tokens, accounting for 3.49% of the circulating supply, worth $99 million on May 16.
Lastly, Avalanche will unlock 9.54 million tokens, around 2.5% of its circulating supply, with a value of approximately $338 million on May 22.