- The crypto market is set to witness an intriguing token unlock event this week as altcoin Aevo (AEVO) unlocks tokens worth significantly more than its market value.
- Launched recently as part of Binance’s Launchpool project, AEVO is expected to unlock approximately $1 billion worth of tokens on Wednesday, May 15, 2024.
- Considering AEVO is an altcoin with a market value of just $132 million, this development is particularly noteworthy, with the unlocked tokens corresponding to 752% of the tokens in circulation.
AEVO, a relatively new altcoin, is set to unlock tokens worth approximately $1 billion, a figure significantly higher than its current market value. This development, part of an intriguing token unlock event, is expected to shake up the crypto market.
AEVO’s Unprecedented Token Unlock
AEVO, which was introduced to the market as part of Binance’s Launchpool project, is set to unlock tokens worth approximately $1 billion on Wednesday, May 15, 2024. This event is expected to occur at 08:00 UTC+3. Given that AEVO is an altcoin with a market value of just $132 million, this development is particularly noteworthy. The unlocked tokens correspond to 752% of the tokens currently in circulation, making this a significant event in the crypto market.
Implications of AEVO’s Token Unlock
AEVO’s vesting table is calculated based on the assumption that all tokens will be convertible immediately after the unlock, similar to the RBN vesting program. RBN holders can convert their RBNs to AEVO at a 1:1 ratio. Following these token unlocks, a significant portion of AEVO’s maximum supply will be in circulation. At the time of writing, AEVO is trading at $1.20. When it first hit the market, the altcoin’s price was approximately $3.
Conclusion
The upcoming token unlock event for AEVO is set to be a significant development in the crypto market. With tokens worth approximately $1 billion set to be unlocked, a figure significantly higher than AEVO’s current market value, the event could have considerable implications for the altcoin’s price and market position. Investors and market watchers will undoubtedly be keeping a close eye on this event and its aftermath.
