Sell-off alert: Over $1 billion in token unlocks this week
Over $1 billion in token unlocks will hit the cryptocurrency market starting on Monday, May 20. This could result in a massive sell-off event, mainly affecting Pyth Network (PYTH) and Avalanche (AVAX) investors. Previously, Finbold reported that May would see over $4 billion in token unlocks from multiple projects. Last week, Aevo (AEVO) unlocked $1 billion, which we featured as a cryptocurrency to avoid trading due to this inflation. Now, in the next seven days, the market will see $1.27 billion worth of token unlocks from six cryptocurrencies. PYTH dominates the seven-day overall inflation with $905.72 million worth of unlock, inflating its supply by 141.7%. Picks for you Here's when Bitcoin (BTC) will hit $100k 29 mins ago Cardano whale activity up 10x; Will ADA break the $1 barrier? 1 hour ago Bitcoin whale trader turns bullish, stacks $175 million BTC in May 2 hours ago Is the recession here? U.S. delinquency rate surges to highest level in 14 y...