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

Samuel Edyme

1 year ago

3 mins read

These Altcoins Are Set To Inject Billions Into The Crypto Market By May

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May 2023 is poised to become a landmark month for the crypto market, with major token releases slated to inject substantial liquidity and potentially catalyze shifts in market dynamics.

Key developments from AEVO and PYTH and significant contributions from other projects are set to channel over $3 billion into the sector.

Substantial Crypto Releases Set the Stage

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 tokens 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 reports 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.

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… pic.twitter.com/tZmihAom3c

— Wu Blockchain (@WuBlockchain) April 30, 2024

Anticipating An Altcoin Surge

Meanwhile, El Crypto Prof, a prominent crypto analyst on X, recently projected a significant rally for the altcoin market 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.

#Altcoins

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🎯
-Send it3⃣

Months of glory ahead imo. pic.twitter.com/uUrKj8qau1

— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) April 28, 2024

The analyst suggests the current market mirrors these past cycles, indicating a potential upcoming surge. He believes this could result in the altcoin market cap potentially doubling from its current estimate of around $1 trillion to $2 trillion.

Additionally, Daan Crypto Trades, another analyst, supports the view that the ETH/BTC ratio is a more accurate measure of altcoin market sentiment than the SOL/BTC ratio, signaling positive prospects for altcoins.

Crypto market cap excluding BTC on TradingView — Altcoin’s Total Market Cap is on the one-day chart. Source: Altcoin Total Market Cap on TradingView

Featured image from Unsplash, Chart from TradingView.

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

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