The crypto market will experience its second token unlock of over $3 billion for this year in May, according to Token Unlocks data.

Token unlocks involve the gradual release of coins initially held to discourage early investors or team members from rapidly selling their large-volume holdings. This process has consistently wielded considerable influence over the broader market conditions by amplifying the selling pressure on a digital asset.

Pyth, Aevo leads with over $1 billion unlock.

Two major players, Aevo and Pyth, lead the significant May token unlock, each set to release over $1 billion worth of tokens.

Aevo is gearing up to release 827.6 million tokens valued at $1.257 billion, marking an astounding 758% increase in its current supply. This unlock is slated for May 15.

Furthermore, the Layer-2 DEX roll-up will release 6.13 million AEVO tokens daily into circulation between May 16 and May 24. These tokens will primarily enter the DAO treasury, early private sale investors, and the project team.

On the other hand, Pyth Network, a decentralized oracle service provider built on Solana, plans to more than double its circulating token supply by unlocking 2.13 billion tokens worth approximately $1.25 billion on March 20.

This token unlock marks Pyth’s first release since its launch last November. The event aims to incentivize ecosystem participants, protocol developers, and early supporters.

Avalanche, others follow.

Beyond these mammoth unlocks, numerous other projects are gearing up for token releases in May.

Avalanche, a Layer 1 blockchain, will launch 9.54 million AVAX tokens valued at $332 million on May 22. Interestingly, this marks the second major token release for the blockchain network this year.

DeFi protocol dYdX will unlock 33.33 million tokens, representing 10% of its circulating supply valued at $71 million today. Similarly, USDe issuer Ethena will release approximately 4% of its circulating supply, equivalent to 53.6 million ENA tokens, on the same day.

Further, Memecoin is preparing to release 5.31 billion MEME tokens into circulation, amounting to $141 million and representing 31.92% of the token’s circulating supply.

Additional projects with scheduled unlock for this month include several Ethereum layer-2 networks like Arbitrum, Optimism, and Starknet.

The post Aevo and Pyth lead May’s $3 billion crypto token unlock wave appeared first on CryptoSlate.

Chirp Network has partnered with peaq to provide connectivity solutions for decentralized physical infrastructure networks (DePINs).

According to a press release shared with Cryptonews.com, Chirp Network will integrate its telecommunications technology with peaq, the layer-1 blockchain for DePIN and machine real-world assets (RWAs).

Chirp and peaq Collaborate to Enhance Device Communication

Chirp is developing a unified, multi-protocol decentralized connectivity network capable of facilitating data exchange across any supported protocol and any distance.

Its network features “Blackbird” gateway devices, already operational in 33 countries, which would provide connectivity across various IoT channels such as LoRaWAN, LoRa 2.4 GHz, and BLE.

The Blackbird devices are powered by Chirp’s LTE networks, enabling them to connect devices across the globe. This aims to enable seamless data exchange across networks and fleets, supporting a borderless communication backbone.

By partnering with peaq, Chirp aims to offer versatile connectivity for DePINs, connecting smart devices worldwide using major IoT protocols.

“Decentralized connectivity and networking is an important function for any DePIN,” stated peaq co-founder Till Wendler.

“peaq’s integration with Chirp unlocks this crucial feature for all DePINs in the ecosystem, enabling devices all over the world to communicate via a people-owned network,” said Wendler.

Supporting DePIN Projects with Connectivity Features

XMAQUINA, the creator of the first fully autonomous tokenized robot cafe, will use Chirp Network for connectivity in the peaq ecosystem. The project’s robotic barista was recently presented at the TOKEN2049 conference in Dubai.

The barista operated autonomously by connecting to the peaq blockchain through Chirp’s IoT connectivity layer, enabling data exchange.

“Our integration with peaq will bring the DePINs building in its ecosystem one major step closer to it — ultimately resulting in a world whose infrastructure backbone is run by its users,” said Chirp Network founder Tim Kravchunovsky.

Chirp also planned to provide connectivity for ELOOP, which enables tokenized investments in DePINs via the peaq network, and for Silencio, a DePIN that rewards users with crypto for collecting noise pollution data.

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