Token

2024

PIXEL

MEME

May 2023 is poised to become a landmark month for the crypto market, with <a href="https://token.unlocks.app/" rel="noopener noreferrer nofollow">major token releases </a>slated to inject substantial liquidity and potentially catalyze shifts in market dynamics.Key developments from AEVO and PYTH and significant contributions from other projects&nbsp;are set to channel over $3 billion into the sector.<h2 id="substantial-crypto-releases-set-the-stage">Substantial Crypto Releases Set the Stage</h2>Token Unlock, a platform dedicated to tracking the release schedules of digital assets, indicates that May will witness one of the most substantial influxes of <a href="https://www.newsbtc.com/altcoin/altcoins-opportunity-zone-santiment-reveals/" rel="noopener noreferrer nofollow">tokens</a> into the cryptocurrency market this year.At least 20 crypto projects are preparing to unleash tokens worth more than $10 million each, cumulatively amounting to $3.661 billion. These releases underscore the activity and continuous growth within the crypto sector, even amid fluctuating market conditions.Among the tokens set to be released, AEVO and PYTH stand out with their billion-dollar injections, underscoring their strong market presence and investor confidence.AEVO, a decentralized exchange, is scheduled to release 827.6 million AEVO tokens on May 15, which surpasses $1.25 billion at current valuations. This release will dramatically increase AEVO’s circulating supply by 757.95%PYTH Network, known for providing decentralized market data, plans to follow suit with its considerable token release. On May 20, PYTH will distribute 2.13 billion tokens, valued at around $1.21 billion, representing 141.67% of its existing circulating supply.Such movements are pivotal for the projects and the broader market, influencing liquidity and potentially price stability.In addition to AEVO and PYTH, Wu Blockchain <a href="https://x.com/WuBlockchain/status/1785224510897336414" rel="noopener noreferrer nofollow">reports</a> that Token Unlock has identified several other cryptocurrencies set for significant releases in May.These include DYDX, ENA, SUI, MEME, GAL, MAVIA, APT, STRK, ARB, APE, IMX, ROSE, PIXEL, and AVAX. ID, YGG, OP, and PRIME are poised to release tokens valued at over $10 million each, rounding out a comprehensive list for the month.<blockquote class="twitter-tweet">According to TokenUnlocks, the large-amount unlocks in May (unlocked amount greater than $10m) include DYDX ENA SUI MEME GAL MAVIA APT STRK AEVO ARB APE IMX ROSE PIXEL PYTH AVAX ID YGG OP PRIME, etc., with an unlock value of over 3.661 billion US dollars. Among them, the unlocked… <a href="https://t.co/tZmihAom3c" rel="noopener noreferrer nofollow">pic.twitter.com/tZmihAom3c</a>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1785224510897336414?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 30, 2024</a></blockquote><h2 id="anticipating-an-altcoin-surge">Anticipating An Altcoin Surge</h2>Meanwhile, El Crypto Prof, a prominent crypto analyst on X, recently <a href="https://www.newsbtc.com/altcoin/crypto-altcoins-parabolic-curve/" rel="noopener noreferrer nofollow">projected a significant rally for the altcoin market</a> based on historical market cycles. He notes that post-Bitcoin halving periods, like those in 2016 and 2020, typically lead to a phase of accumulation in altcoins, followed by a market rally.<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Altcoins</a>Anyone who is bearish here obviously hasn’t done their homework.Altcoins about to enter the parabolic curve, if we repeat 2016 and 2020.History doesn’t repeat itself, but It often rhymes.-Accumulation1⃣ -Backtest2⃣<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f3af.png" alt="🎯" class="wp-smiley"> -Send it3⃣Months of glory ahead imo. <a href="https://t.co/uUrKj8qau1" rel="noopener noreferrer nofollow">pic.twitter.com/uUrKj8qau1</a>— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f2.png" alt="🧲" class="wp-smiley"> (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1784639813120938252?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 28, 2024</a></blockquote>The analyst suggests the current market mirrors these past cycles, indicating a potential upcoming surge. He believes this could result in the<a href="https://www.newsbtc.com/bitcoin-news/bitcoin-dominance-traders-og-dogecoin-altcoins/" rel="noopener noreferrer nofollow"> altcoin market cap</a> potentially doubling from its current estimate of around $1 trillion to $2 trillion.Additionally, Daan Crypto Trades, another analyst, <a href="https://www.newsbtc.com/altcoin/cracking-the-crypto-code-eth-btc-signals-the-next-altcoin-explosion-heres-how/" rel="noopener noreferrer nofollow">supports the view that the ETH/BTC ratio is a more accurate measure</a> of altcoin market sentiment than the SOL/BTC ratio, signaling positive prospects for altcoins.<img class="size-medium" src="https://www.tradingview.com/x/ZI36EZJ8/" alt="Crypto market cap excluding BTC on TradingView" width="2770" height="1496">Featured image from Unsplash, Chart from TradingView.

Upcoming Token Releases: These Altcoins Are Set To Inject Billions Into The Crypto Market By May

Table of Contents

NewsBTC

Other articles published on Apr 30, 2024

Indians are including cryptocurrencies in their retirement plans, survey reveals

Solana’s Market Struggles Amid Global Crypto Slowdown

Bitcoin, Ethereum, Dogecoin Closing April With Heavy Losses, Slide Below $60K Causes Over $380M I...

SSV.Network Partners with Ether.Fi for Revolutionary Staking Advancement

PLAY Wallet updated

CoinGecko: Ethereum overtakes Solana by DEX trading volume

Join our free newsletter for daily crypto updates!