Over $3.1 billion in vested crypto assets are scheduled for release in May, highlighting significant events for projects like Sui and Pyth Network, each set to unlock over $1 billion in tokens.
Crypto vesting practices help ensure ongoing commitment to projects by restricting the immediate sale of tokens by early investors or team members.
Sui, a layer-1 blockchain platform, is poised to release the highest volume of tokens.
It plans to unlock nearly one billion tokens valued at approximately $1.15 billion for its Series A and Series B investors, early contributors, the Mysten Labs treasury, and its community reserve on May 31.
Pyth Network, a market data platform, will unlock over two billion tokens valued around $1.1 billion on May 20.
These tokens are allocated for protocol development, ecosystem growth, publisher rewards, and private sale investors, with the price per PYTH token currently about $0.51.
Additionally, other crypto projects like Avalanche, Aptos, Arbitrum, Starknet, Optimism, and Immutable are set to release over $700 million in combined tokens.
Specifically, on May 12, Aptos will release 11.3 million APT tokens worth $101 million to various stakeholders including its foundation and core contributors.
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Avalanche plans to unlock 9.5 million AVAX tokens valued at $321 million on May 22 for its strategic partners and team, among others.
Arbitrum, another layer-2 blockchain network, will release $95 million worth of ARB tokens on May 16, designated for its team and investors.
This follows a substantial $2.3 billion token release by Arbitrum to the same groups earlier in March.
Moreover, Starknet is scheduled to unlock $84 million in tokens for its investors and early contributors on May 15.
Immutable will follow with a $56 million release on May 17 aimed at supporting ecosystem and project development.
Lastly, the layer-2 scaling solution Optimism will release 24.1 million OP tokens on May 29, valued at approximately $70 million.
In May 2023, Optimism had also unlocked $587 million in OP tokens for its early contributors and investors, underscoring a recurring theme of substantial token releases in the crypto industry.
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