May will see the release of vested crypto assets valued at over $3.1 billion, with tokens worth over $1 billion apiece being unlocked by projects like Pyth Network and Sui.To encourage ongoing commitment to a cryptocurrency project, crypto vesting is implemented.Vested cryptocurrency tokens are locked, making it impossible for team members or early backers to quickly sell their tokens and quit the enterprise. Layer-1 blockchain platform Sui is the project releasing the most vested crypto assets out of all of them.On May 31, it is anticipated that the project will release about one billion tokens to its community reserve, early backers, Mysten Labs treasury, and Series A and B investors.As of this writing, the tokens are valued approximately $1.15 billion.
In the meantime, the second-largest quantity will be made public in May by market data portal Pyth Network.The cryptocurrency project will release more than two billion tokens for protocol advancement, ecosystem expansion, publisher incentives, and investors in its private sale on May 20.
With Pyth Network’s (PYTH) token hovering at about $0.51 a piece, the tokens to be released are worth roughly $1.1 billion.
Aside from the two, tokens worth a total of over $700 million will be released by companies like Avalanche, Aptos, Arbitrum (ARB), Starknet (STRK), Optimism (OP), and Immutable (IMX).Aptos plans to distribute 11.3 million APT tokens, valued at $101 million, to its investors, core contributors, community, and foundation on May 12.Avalanche will release 9.5 million AVAX, or about $321 million, on May 22nd for its airdrop, foundation, team, and key partners. On May 16, the Layer-2 blockchain network Arbitrum will issue an additional $95 million in ARB tokens.The investors and project team each receive a certain number of tokens.Arbitrum distributed $2.3 billion in tokens to its investors and workforce on March 16.
Furthermore, on May 15, Starknet will release $84 million in tokens for its investors and early backers, and on May 17, Immutable will release $56 million in cryptocurrency tokens for the development of its ecosystem and projects. Scaling solution for Layer-2On May 29, Optimism will also release 24.1 million OP tokens.At current market pricing, the tokens are valued at approximately $70 million.Optimism also issued $587 million worth of OP tokens in May 2023 as a thank you to its investors and early contributors.