Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

PYTH, AVAX, PIXEL among $1.35 billion worth of token unlocks next week

Source Fxstreet

Pyth, Avalanche, Pixels, and Space ID networks have massive token unlock events on the calendar next week.
PYTH ecosystem will hold largest unlock, where 2.13 billion PYTH tokens worth $906.09 million will flood markets on Monday.
Depending on market conditions and investor sentiment, token prices may experience significant fluctuations round token unlock dates.

Token unlocks can impact the liquidity of a token in the market. Increased supply from token unlocks may make it easier for investors to buy and sell the token, but it can also lead to price slippage and challenges in executing large trades.

Also Read: Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC is in a class of its own after ETF approvals

Brace for these token unlocks next week

The release of locked-up tokens can lead to increased price volatility as investors react to the newly available tokens. Depending on market conditions and investor sentiment, the token price may experience significant fluctuations.

Starting Sunday, May 19, the Pixels ecosystem will unlock 54.37 million PIXEL tokens. Comprising 7.05% of its circulating supply, these tokens are worth $19.02 million at current levels.

Pyth has the most voluminous unlock in the lineup. On May 20th, this coming Monday, 2.13 billion PYTH tokens worth $906.09 million will be unlocked. These tokens comprise 141.67% of the circulating supply.

Unlock Alert : $PYTH worth $962.88 m@PythNetwork

2.125 b token will be unlocks on 20 May 24$PYTH schedule 5 cliffs unlocks since TGE

1st : 1.5b tokens ✅ (20 Nov 23)
2nd-5th : 2.125b tokens each (every May 20 from 2024-2027)

----
More details https://t.co/OQ6A1QiuPI pic.twitter.com/qZvzus1rFG
— Token Unlocks (@Token_Unlocks) May 17, 2024

On Wednesday, May 22, the Avalanche network will unlock 9.54 million AVAX tokens worth $329 million and composing 2.49% of the circulating supply.

Space ID is also in the lineup with 18.49 million ID tokens worth $13.21 million and comprising 4.29% to be unlocked on Wednesday, May 22.

Token unlocks this weekend

More closely, there are several token unlocks to watch out for this weekend. Among them:

The Manta Network will unlock 6.67 million MANTA tokens on Saturday, May 18, worth $10.40 million and comprising 2.66% of the network’s circulating supply.

On the same day, the Oasis Network will unleash 171 million ROSE tokens worth $14.82 million, making for 2.54% of the circulating supply.

Weekly Cliff Unlocks : 20-26 MAY 24

$ 1.239 b

Highlights Unlocks $PYTH (141.67%) - $893.1m $AVAX (2.50%) - $331.96m $ID (4.29%) - $13.21m $ACA (0.48%) - $487k$EUL (0.34%) - $357k#1INCH (<0.00%) - $8k
.
.
( % of cir. supply) pic.twitter.com/mSsTQGFhGP
— Token Unlocks (@Token_Unlocks) May 17, 2024

While token unlocks are considered bearish catalysts, it is worth noting that properly structured token unlock schedules can support the long-term sustainability of a project.

Strategic token unlocks that align with project milestones and development progress can incentivize team members, encourage community engagement, and contribute to ecosystem growth.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for crypto The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Author Suzie

Sep 16, Wed

The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.

Dollar index tops 100 for the first time since July as the Fed's hawkish dot plot sinks in The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

Author Irene Q.

Sep 17, Thu

The U.S. dollar index broke back above 100 for the first time since 31 July after the Fed delivered its first rate hike since 2023, with the dot plot showing 16 of 18 officials expect at least one more increase this year. Here are the levels that matter for DXY, the currencies feeling it most, and what to watch next.

US to delay new "overcapacity" tariffs on China — what the pause means for trade, inflation and the dollar Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Author Mitrade

Sep 18, Fri

Washington is expected to hold off announcing new tariffs over Chinese "overcapacity" until after the 24 September summit, according to Bloomberg. The postponed plan would have added 7.5% to Chinese goods, taking second-term US tariffs to around 20%. Here is what is on the table, and what a deal versus no deal would mean for the yuan, Hong Kong equities and the dollar.

Gold ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

23 hours ago

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Bitcoin squeezes back above $80,000 — 110,000 traders liquidated as the hawkish Fed and CLARITY setback fail to hold it down; is $83,000 next?Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Author Suzie

23 hours ago

Bitcoin closed above $80,000 on Friday for the first time since September 7, and pushed to $81,299 over the weekend, triggering about $603 million of liquidations — $523 million of them shorts — across more than 110,000 traders. With the Fed's hike already priced and the SEC and CFTC advancing crypto rules after the CLARITY Act failed, here is what stands between BTC and the $83,000 gate.

Popular Symbols