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

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

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.

Moreover, AEVO is a $150 million market cap cryptocurrency, while PYTH has less than $800 million in capitalization. Therefore, these unlocks will likely have a major economic impact on early investors, which could cause a price crash.

Ripple to unlock 1 billion XRP tokens in May

Meanwhile, as previously reported by Finbold, Ripple will unlock 1 billion XRP on May 1, worth approximately $500 million. This unlock, however, is not measured by TokenUnlocksApp and, thus, is not included in Colin Wu‘s report.

The total unlocked amount will add to the aforementioned unlocks, resulting in over $4.16 billion of new tokens inflating the cryptocurrency market.

Interestingly, XRP investors expect Ripple to keep only 20% of the 1 billion unlocked for May’s sell-off. This is due to the company following this same pattern every month, with a few exceptions of larger dumps in specific months.

For example, Ripple sold 200 million XRP in April after reserving this amount from its monthly unlock.

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.

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