Token

Cryptocurrency

Starknet

Pyth Network

<p>The cryptocurrency market is gearing up for a series of substantial token unlocks in May, with over $3 billion worth of tokens set to be <a href="https://twitter.com/wacy_time1/status/1784650792122585466" target="_blank" rel="noopener noreferrer nofollow">released</a> across various projects. Among the most notable unlocks are $1.26 billion in $PYTH tokens on May 20, $1.01 billion in $SUI tokens on May 3, and $334 million in $AVAX tokens on May 22.</p>
<p>Other significant unlocks include $147 million in $MEME tokens on May 3, $105 million in $ARB tokens on May 16, and $83 million in $MERL tokens on May 19. These unlocks have the potential to impact token prices and market sentiment, presenting both challenges and opportunities for investors.</p>
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<h2 class="wp-block-heading" id="pyth-network-pyth-unlock-a-potential-entry-point">Pyth Network ($PYTH) Unlock: A Potential Entry Point</h2>
<p>On May 20, the Pyth Network ($PYTH) plans to unlock $1.26 billion in tokens, which accounts for a staggering 141% of the current market cap. The unlocked tokens will prioritize ecosystem development and rewards, and the $PYTH staking feature has already sparked airdrops from various projects.</p>
<p>According to analyst Alex Wacy, if the price reacts to the unlock, it could present a favorable entry point for acquiring airdrops and profiting from the coin itself. Wacy’s strategy involves buying $PYTH, staking 50% of the tokens, and selling the unstaked 50% once the price doubles.</p>
<p>The remaining coins would be kept in staking for additional income through airdrops, taking advantage of the fact that $PYTH won’t undergo its next unlock until 2025.</p>
<h2 class="wp-block-heading" id="starknet-strk-unlock-potential-for-price-manipulation">Starknet ($STRK) Unlock: Potential for Price Manipulation</h2>
<p>Starknet ($STRK) will see an $82 million token unlock on May 15, with all tokens allocated to investors and early contributors. Wacy anticipates that L1 and L2 blockchains will perform well during the alt season, as they are clearer for major retail investors, along with <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="memes" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">memes</a>.</p>
<p>However, Wacy believes that holding onto Starknet for the long term might not be advisable due to its massive fully diluted valuation (FDV). Instead, the unlock could be seen as an opportunity to enter the alt season with significant volume, with potential price manipulation similar to what occurred with $APT.</p>
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<h2 class="wp-block-heading" id="merlin-merl-unlock-a-project-to-watch">Merlin ($MERL) Unlock: A Project to Watch</h2>
<p>Merlin ($MERL) is set to unlock $83 million in tokens on May 19. Wacy has expressed interest in buying $MERL tokens at a more favorable price point, citing the project’s huge total value locked (TVL), strong backing from major investors, and well-designed tokenomics featuring linear vesting.</p>
<p>Wacy believes that Merlin has the potential to demonstrate power during the upcoming altcoin season and could be the next $STX. Although the current price is on a sharp decline, this is a common occurrence. If the price responds to the unlock, Wacy may consider buying more aggressively.</p>
<p>The upcoming token unlocks in May present both challenges and opportunities for the cryptocurrency market. As over $3 billion in tokens are set to be released, investors must stay informed and adapt their strategies accordingly.</p>
<p>While some unlocks, such as $PYTH, may present favorable entry points, others, like $STRK, could be subject to price manipulation. Projects like Merlin ($MERL) show promise and may be worth considering for investment.</p>
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<p>The post <a href="https://captainaltcoin.com/top-cryptocurrency-token-unlocks-this-week-including-pyth-network-pyth-sui-and-more/" rel="noopener noreferrer nofollow">Top Cryptocurrency Token Unlocks This Week, Including Pyth Network (PYTH), SUI, and More</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Top Cryptocurrency Token Unlocks This Week, Including Pyth Network (PYTH), SUI, and More

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