Published on mei 3, 2024, 12:36 pm
Image source: Fox News
```json { "TLDR": "In May, Sui, Pyth Network, Avalanche, Arbitrum, Aptos, and other projects are set to release over $3.1 billion worth of vested crypto tokens. Sui and Pyth Network will unlock over $1 billion each. Vesting tokens helps ensure long-term commitment from investors and team members by discouraging quick sell-offs. These releases mark a significant phase in the projects' development within the cryptocurrency space." } ```
Sui, Pyth Network, Avalanche, Arbitrum, and Aptos are gearing up to release vested crypto tokens in May, based on data from Token Unlocks. This month will witness a significant milestone in the crypto world as over $3.1 billion worth of locked assets are set to be released. Among the projects, Sui and Pyth Network stand out with each unlocking over $1 billion in tokens.
The process of vesting crypto tokens plays a crucial role in fostering long-term commitment to a crypto project. By locking these assets, early investors and team members are discouraged from quickly selling off their tokens and abandoning the project.
Leading the pack in token releases is layer-1 blockchain platform Sui, which is expected to unlock nearly one billion tokens for various stakeholders on May 31st. These tokens amount to approximately $1.15 billion at the current valuation. Pyth Network follows closely behind, planning to release over two billion tokens for different purposes including protocol development and ecosystem growth.
Moreover, projects such as Avalanche (AVAX), Aptos (APT), Arbitrum (ARB), Starknet (STRK), Optimism (OP), and Immutable (IMX) will collectively release over $700 million in tokens this month. Aptos will kick off the releases on May 12 by unlocking 11.3 million APT tokens valued at $101 million.
Avalanche will follow suit on May 22 by releasing 9.5 million AVAX worth around $321 million. Arbitrum is set to issue an additional $95 million in ARB tokens on May 16 for its team and investors. Starknet and Immutable will also join the lineup by unlocking $84 million and $56 million respectively for their stakeholders.
Optimism’s turn comes towards the end of the month with 24.1 million OP tokens set to be unlocked on May 29th, equivalent to about $70 million based on current market prices. This initiative follows Optimism’s earlier release of $587 million in OP tokens back in May 2023 for its early contributors and investors.
These planned token unlocks mark an important phase in these projects’ journeys as they distribute assets among key stakeholders for further development and growth within the rapidly expanding cryptocurrency landscape.
Original article posted by Fox News
