For cryptocurrency investors, monitoring a project’s tokenomics can be crucial, particularly when tokens valued at more than $1 billion are at risk. This is the situation with the much-discussed Pyth Network, which in three weeks will grant ecosystem members access to its first set of tokens.
However, in addition to Pyth Network, a number of other cryptocurrency projects such as Avalanche and Arbitrum aim to release tokens valued at hundreds of millions of dollars. DTX, although new to the market, has caught the attention of investors worldwide.
Pyth Network (PYTH) Set to Double $1.25 Billion Supply with Token Unlock
Pyth Network has been around for about six months now, and it is said to experience its unlock this month. The DeFi oracle will be the most notable unlock in the market. The unlock will happen on the 20th of May, where 2.13 billion Pyth tokens will unlock. At the current rate of exchange, the unlock will cost about $1.24 billion. The token unlock represents a more than doubling of Pyth’s current circulating supply, which sits at around 1.5 billion tokens. These unlocked tokens are designated for ecosystem participants, protocol developers, and early backers who played a role in the network’s growth.
This token unlock comes at a pivotal moment for Pyth. The network has seen positive developments recently, including surpassing 110,000 holders and launching a second airdrop phase for over 160 decentralized applications (dApps).
Avalanche (AVAX) Price Dips as $365 Million Token Unlock Looms
Avalanche (AVAX) is currently experiencing a cool spell in the market. This dip comes ahead of a significant event: a scheduled unlock of 9.5 million AVAX tokens, worth roughly $365 million, set for later this week.
The unlocked tokens will be distributed to the team, the foundation, and strategic partners, as well as 1.13 million AVAX ($38.81 million) being airdropped. The concern is that this influx of tokens will outpace current demand, pushing the price down. Historically, token unlocks can trigger sell-offs as investors fear an inflated supply. This fear seems to be reflected in AVAX’s recent performance. Over the past week, AVAX has underperformed the broader crypto market, dipping over 3% while many other digital assets gained ground.
The upcoming token unlock represents a 2.6% increase in AVAX’s circulating supply. This might not seem like a big bump, but in the crypto world, even small supply fluctuations can have a noticeable impact.
Arbitrum (ARB) Projected to unlock over $103.8 Million
Ethereum L2 Arbitrum will be unlocking 92.65 million ARB ($103.76 million) in May and this will be distributed amongst the investors, teams , futures team and advisors.
Arbitrum currently has a market cap of over $2.5 billion, with a ranking of 43rd according to coinmarketcap. It has a circulating supply of 2.6 ARB. Although the project is currently bearish, experts project that it is only temporary.
The scheduled unlock, is projected to release a considerable amount of ARB tokens, with estimates placing the value at over its latest market value worth of ARB tokens. The impending token release has sparked discussions within the crypto community regarding its potential impact on the price of ARB.
DTX Exchange Creates an Opportunity For Investors to turn Millionaires
DTX is every trader’s dream. Experience the best of high-speed trading with access to over 120k+ assets in Crypto, Stocks & Bonds, Forex, and Commodities. No need for KYC.
DTX offers high leverage of up to 1000x, which can magnify returns for those who are comfortable with the increased risk. Security and speed are also high priorities for DTX, with the platform promising robust security features and an average execution speed of just 0.04 seconds.
DTX is currently on its stage 2 presale, selling for $0.04. Investors are taking advantage of this affordable price to be a part of the project. DTX lets you discover commodities, forex, stocks and bonds, and cryptocurrencies on a single investing platform. You may easily trade at high speeds with DTX, whether you’re trading equities, cryptocurrencies, or commodities like gold and oil.
Key Takeaway
All three projects are projected to have over $1.5 billion in token unlock. Along with this comes a drop in their price. While this trend occurs, investors are also ensuring they don’t miss out on DTX. The platform’s stage 2 presale means interested holders can still secure tokens at a significantly attractive rate.
Visit here to find out more about DTX presale.
