Find out about the 3 main tokens next week

Token unlocking involves the release of tokens that were previously blocked by fundraising terms. Projects plan these releases carefully to avoid market pressure and prevent price falls.

However, things like liquidity shortages or early investors taking profits can seriously affect the asset's volatility. Here are the top three tokens to watch next week.

Pyth Network (PYTH)

Launch Date: May 20th Number of Tokens Launched: 2.13 Billion PYTH Current Circulation: 1.5 Billion PYTH

Paiz Network is a decentralized oracle that provides real-time financial market data for blockchain applications. It collects high-quality price data from various sources, including trading companies and exchanges. The project aims to improve the accuracy and reliability of data used in smart contracts and decentralized finance (DeFi) platforms.

The PYTH token has a maximum supply of 10 billion. On May 20, the project will open 2.13 billion tokens, which is more than the current circulation supply. Approximately 800 million PYTH will go to private sale participants and publishers, with the remainder allocated to protocol development and ecosystem growth.

Members of the crypto community have commented on how the launch will affect the price of PYTH. Some believe that the altcoin is headed for a major crash, while others are convinced that Tokonomics' design will allow them to hold the ground.

“Pyth opens at $910 million on May 20. 141.67% of the current offer has been opened. AEVO dropped 25% after the launch. Most PYTH holders are locked in so they can't sell their wallets. I'm looking for a short setup anyway,” said a crypto trader.

Read more: What is Blockchain Oracle? Entry guide

Hurricane (AVAX)

Launch Date: May 22 Number of Tokens Launched: 9.54 Million AVAX Current Circulation: 382.77 Million AVAX

Avalanche is a decentralized blockchain platform that offers high performance and scalability, enabling developers to create and deploy decentralized applications (dApps) and custom blockchain networks. Avalanche Network's native token is AVAX, used to pay transaction fees, offer sales and participate in platform management.

On May 22nd, more than 9 million AVAX tokens will be unlocked and distributed among strategic partners, the Avalanche Foundation, the team, and the Weather participants.

Read More: 11 Best Avalanche (AVAX) Wallets to Consider in 2024

Space ID

Launch date: May 22 Number of tokens launched: 18.49 million IDs Current circulation: 430.5 million IDs

SpaceID is a decentralized identity protocol that enables users to securely manage their online identities across multiple blockchain platforms. It allows users to create a single digital identity that can be used across multiple decentralized applications (dApps). The ID is a utility token of the Space ID ecosystem designed to encourage user engagement and support the security and growth of the network.

On May 22, the project will add 18 million IDs to its distribution offering. According to TokenUnlocks, most of these tokens will go to the Space ID Foundation, the Ecosystem Fund, and Climate Participants.

Read more: Which are the best Altcoins to invest in May 2024?

Although token openings are often considered a carryover, a well-planned schedule can increase the long-term viability of the project. Aligned with the stages of development and development progress, openings encourage team members, increase community participation and promote ecosystem development.