In May, there will be a significant release of vested crypto assets worth over $3.1 billion. This release is an important step in promoting the long-term commitment to various crypto projects. By locking the tokens, it prevents early investors and team members from quickly selling their tokens and abandoning the project.
Among the projects releasing these vested crypto assets, Sui, a layer-1 blockchain platform, will release the largest amount. On May 31, Sui is expected to unlock nearly one billion tokens for its Series A and Series B investors, early contributors, Mysten Labs treasury, and community reserve. Currently, these tokens are valued at approximately $1.15 billion.
As for the second-largest release, market data platform Pyth Network will unlock over two billion tokens on May 20. These tokens will be allocated for protocol development, ecosystem growth, publisher rewards, and private sale investors. With each token of Pyth Network (PYTH) valued at around $0.51, the total worth of the released tokens is estimated to be $1.1 billion.
Additionally, several other projects will release a combined total of over $700 million in tokens. Avalanche (AVAX), Aptos (APT), Arbitrum (ARB), Starknet (STRK), Optimism (OP), and Immutable (IMX) are among these projects. Aptos will release 11.3 million APT tokens worth $101 million on May 12, while Avalanche will unlock 9.5 million AVAX valued at around $321 million on May 22.
Arbitrum will release $95 million in ARB tokens on May 16, specifically for the project’s team and investors. Previously, on March 16, Arbitrum had released $2.3 billion in tokens to the same recipients. Starknet will unlock $84 million in tokens on May 15 for its investors and early contributors, while Immutable will release $56 million in crypto tokens on May 17 for ecosystem and project development.
Optimism, a layer-2 scaling solution, will unlock 24.1 million OP tokens on May 29, valued at approximately $70 million. Moreover, in May 2023, Optimism had previously released $587 million in OP tokens for early contributors and investors.
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