Discover the top 5 Token openings of May 2024

As May approaches, BeInCrypto has identified prominent token launch events set to influence the market. According to data from TokenUnlocks, by May 2024, the crypto market will have about $3.58 billion worth of tokens released into circulation.

This influx of liquidity could create ripples across various digital assets, particularly for Pyth Network (PYTH), Aevo (AEVO) and Avalanche (AVAX) for the token events of the month.

Paiz Network's flagship release

Token launches are critical to cryptocurrencies as they introduce previously unavailable tokens to the public market. The huge volume entering the market next month presents both opportunities and challenges for traders and investors.

The Pyth Network, which is leading the charge, plans to launch 2.13 billion PYTH tokens on May 20, worth $1.24 billion. This release is divided into several categories:

Publisher Prizes worth $313.62 million worth 537.50 million PYTH. Ecosystem growth will be 1.13 billion PYTH, equivalent to $656.40 million. Distribution of 212.50 million PYTH worth $123.99 million for protocol development. The private sale will release 250 million PYTH, which is $145.87 million.

Buying a lot of unlocked tokens after they are dropped here can be one of the free trades, especially since the next launch will be in 12 months, said Gold, a speculative crypto researcher.

Read more: 11 Cryptos to Add to Your Portfolio Ahead of the Altcoin Season

Aiwo stepped up.

Not far behind, Aevo is preparing to release 827.6 million AEVO tokens on May 15, with a market cap of $1.24 billion. The details are as follows.

Investors in the initial private sale will own 172.97 million AEVOs worth $259.45 million. Group allocation includes 215.04 million AEVO, a total of 322.56 million dollars. The DAO treasury will receive an allocation of 336.59 million AEVO worth $504.88 million. 103 million AEVO worth $154.50 million for the remaining distribution of RBN.

Avalanche's planned distribution

Avalanche is preparing a significant token release on May 22nd with 9.54 million AVAX tokens valued at $329.19 million. A distribution plan includes:

Strategic Partners will receive 2.25 million AVAX worth $77.63 million. Ecosystem development initiatives will receive an allocation of 1.67 million AVAX worth $57.50 million. Team members will receive 4.50 million AVAX, totaling $155.25 million. 1.13 million AVAX for Airdrop, an allocation worth $38.81 million.

Unlock $147.95 million MEME Token

Meanwhile, Memecoin is gearing up for a grand token launch on May 3, 2024, with 5.31 billion MEME tokens worth approximately $147.95 million. The opening structure is as follows

A whopping 3.45 billion MEME worth $96.07 million is set for an airdrop. Consulting roles are known for 1.04 billion MEME, worth $28.82 million. Investors will be allocated 828 million MEME, the price is 23.06 million dollars.

Aptos strategic placement

Aptos plans to issue 11.31 million APT tokens on May 12, 2024 for a total of $102.01 million. Details of this opening include:

The foundation will receive 1.33 million APT worth $12.03 million. The community will receive an allocation of 3.21 million APT valued at $28.96 million. Top contributors will earn 3.96 million APT, worth $35.70 million. Investors will receive an allocation of 2.81 million APTs totaling $25.33 million.

Read more: The Ultimate Guide to Aptos Cryptocurrency (APT) and its Network

Additionally, smaller but notable openings include dYdX (DYDX), Sui (SUI), and Athena (ENA).

These additional openings are part of a broader trend in which increased token liquidity is fueled by enthusiasm for growth and careful evaluation of market impact. It is important for investors to understand the details of each opening. This includes the amount of tokens released, their intended use and the general market conditions at the time.

As the market prepares for these and other openings, investors should expect a strategy that signals an increase in token supply and the resulting price movement. It will be key to see how these tokens integrate into their respective ecosystems.