- The crypto market is in a state of flux, with investors wary of losing more money. To prevent this, they need to closely monitor this special monthly event – crypto unlocking events. Crypto analyst Camille Lemmens draws attention to three altcoin projects that will unlock in May.
- The first altcoin on the list is Aptos (APT), with a significant unlock of 11.31 million APT or $115 million. The current APT price is $8.37. This is part of the monthly unlocking transactions. However, Aptos has spent the last six months with significant unlocks. In the last six months, it has unlocked 5.85% of the circulating supply each month. The current unlock took place on May 12th. From May onwards, this rate has more than halved. The monthly token count dropped from 24.84 million to 11.31 million. Still, it’s a large enough amount.
- The second altcoin is Aevo (AEVO), a trading platform for options and perps. On March 13, the platform unlocked 12% of its tokens. This equated to 122 million AEVO. However, on May 15, it will unlock another 80% of its tokens. This equates to 827 million AEVO tokens or $1.4 billion. In addition, over the next nine days, 6.13 million tokens will be unlocked each day. This ensures that 100% of them are unlocked.
- The final altcoin is Pyth Network (PYTH), an oracle focused on data and a challenger to ChainLink. Pyth has been working hard to unlock. The previous unlock was half a year ago, on November 20, 2023. On that date, we saw the TGE and a massive PYTH airdrop. 15 or 1.5 billion tokens, currently worth 1 billion dollars, were unlocked. Now, an even larger unlock is hitting the market. At least 2.13 billion PYTH or $1.42 billion will be unlocked on May 20th. The current PYTH price is $0.43. So, after this unlock, we have to wait another year for the next unlock.
Investors should closely monitor the unlocking events of three altcoins, Aptos (APT), Aevo (AEVO), and Pyth Network (PYTH), as they could significantly impact the crypto market.
Aptos (APT) Unlocking Event
Aptos has a significant unlock of 11.31 million APT or $115 million. This is part of the monthly unlocking transactions. However, Aptos has spent the last six months with significant unlocks. In the last six months, it has unlocked 5.85% of the circulating supply each month. The current unlock took place on May 12th. From May onwards, this rate has more than halved. The monthly token count dropped from 24.84 million to 11.31 million. Still, it’s a large enough amount.
Aevo (AEVO) Unlocking Event
Aevo, a trading platform for options and perps, unlocked 12% of its tokens on March 13. This equated to 122 million AEVO. However, on May 15, it will unlock another 80% of its tokens. This equates to 827 million AEVO tokens or $1.4 billion. In addition, over the next nine days, 6.13 million tokens will be unlocked each day. This ensures that 100% of them are unlocked.
Pyth Network (PYTH) Unlocking Event
Pyth Network, an oracle focused on data and a challenger to ChainLink, had its previous unlock half a year ago, on November 20, 2023. On that date, we saw the TGE and a massive PYTH airdrop. 15 or 1.5 billion tokens, currently worth 1 billion dollars, were unlocked. Now, an even larger unlock is hitting the market. At least 2.13 billion PYTH or $1.42 billion will be unlocked on May 20th. The current PYTH price is $0.43. So, after this unlock, we have to wait another year for the next unlock.
Conclusion
Investors should closely monitor the unlocking events of these three altcoins, as they could significantly impact the crypto market. The unlocking of tokens could lead to a drop in the price of these altcoins, providing a potential buying opportunity for investors. However, investors should do their own research before making any investment decisions.
