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Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- May 13, 2024 05:57 UTC
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Crypto Bloodbath Incoming?! May Token Unlocks Could CRASH These Top Coins
Token unlocks can significantly affect cryptocurrency prices as investors may choose to sell.
Upcoming major token unlocks in May include Aptos, Aevo, PYTH Network, and Avalanche.
The impact of token unlocks on prices can vary depending on the project and the amount of tokens unlocked.
Understanding the significance of token unlocks is like solving a puzzle in the world of cryptocurrency. Analyst Altcoin Buzz emphasizes the importance of upcoming token unlocks scheduled for May, advising investors to take note for effective portfolio management.
You’re not going to want to miss this! Read on to stay aware.
Unlock Schedules: What You Need to Know
In a recent video, Altcoin Buzz highlights the often-ignored yet crucial aspect of token unlock schedules. These unlocks signal the release of previously locked tokens into the market, which can shake up prices as stakeholders decide whether to sell their tokens or hold onto them.
May’s Token Releases: What’s Coming
Altcoin Buzz points out four important token unlock events set for May, focusing on projects ranked in the top 30 by market capitalization:
Aptos: Get ready for the release of 11.31 million APT tokens, valued at millions of dollars. With a regular monthly unlock plan, previous months have seen a significant increase in token availability.
Aevo: Avo is gearing up for a massive unlock of 8.13 billion tokens, worth over $1 billion, scheduled for mid-May. This release makes up a huge chunk—80%—of its total supply and could push its price down.
PYTH Network: Competing with Chainlink in the oracle field, PYTH Network is preparing to release 2.13 billion tokens, valued at over $1 billion. Despite its potential, this large release might affect its price negatively.
Avalanche: Known for its quick and scalable blockchain, Avalanche will see the release of 9.54 million AVAX tokens. While past releases didn’t cause much price movement, this event could change market sentiment.
Understanding Price Movements
While some projects may sail through token unlocks smoothly, others, especially those with large releases, could face significant sell-offs, causing temporary price drops.
Understanding the impact of token releases sheds light on a crucial aspect of cryptocurrency investing. As May approaches, smart portfolio management is key.
Also Check Out: Here are the Top Altcoins Ready to Hit New Highs During the Altcoin Season!
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