In May, the crypto market will witness the release of vested crypto assets worth a staggering $3.1 billion. This move is aimed at ensuring the long-term commitment of early investors and team members to their respective projects, preventing them from hastily dumping their tokens and abandoning the projects.
Leading the pack is Sui, a layer-1 blockchain platform, which is set to unlock nearly one billion tokens. This release will benefit Series A and Series B investors, early contributors, the Mysten Labs treasury, and the community reserve. The total value of these tokens stands at approximately $1.15 billion.
Following closely behind is Pyth Network, a market data platform, which will release over two billion tokens. These tokens will be allocated for protocol development, ecosystem growth, publisher rewards, and private sale investors. At the current price of $0.51 per token, the total value of the released tokens amounts to around $1.1 billion.
Several other notable projects will also release a combined total of over $700 million in tokens. Avalanche, Aptos, Arbitrum, Starknet, Optimism, and Immutable are among the projects participating in this release. Aptos will release 11.3 million APT tokens worth $101 million, while Avalanche will unlock 9.5 million AVAX tokens valued at approximately $321 million. Arbitrum will release an additional $95 million in ARB tokens, and Starknet will unlock $84 million in tokens. Immutable will release $56 million in crypto tokens, and Optimism will unlock 24.1 million OP tokens worth $70 million.
These releases signify a significant development in the cryptocurrency market, as projects continue to prioritize the long-term success and stability of their ecosystems.