PYTH Leads $94.9M Token Unlock Slate for May 18-24, Tokenomist Data Shows

Six cryptocurrency projects are scheduled to release locked tokens worth a combined $153.8 million into circulation between May 18 and May 24, according to data published by Tokenomist. Decentralized oracle network Pyth Network heads the list with the largest single event of the week.

Per the Tokenomist schedule, PYTH will release approximately 2.1 billion tokens valued at $94.9 million on May 19 at 1:00 p.m. UTC. The release equals 36.96% of the token's current circulating supply, the largest proportional unlock on the calendar.

LayerZero's ZRO token is next in dollar terms. The schedule shows 25.71 million ZRO worth $33.16 million entering circulation on May 20 at 11:00 a.m. UTC, equal to 5.07% of supply.

KAITO is set to unlock the same day at 12:00 p.m. UTC. The release covers 17.60 million tokens worth $8.51 million, or 4.70% of supply, per the data.

Three smaller events round out the week. MBG will release 27.15 million tokens ($8.82 million, 8.09% of supply) on May 22 at 12:00 p.m. UTC. SOON is scheduled for May 21 at 8:30 a.m. UTC with 21.88 million tokens worth $3.44 million, or 4.60% of supply. SOSO closes the week on May 24 at 9:00 a.m. UTC with 13.32 million tokens valued at $4.98 million, equal to 4.17% of supply.

Token unlocks are predetermined releases of supply previously held by founders, early investors or ecosystem treasuries. The events expand the freely tradable float and can pressure prices when recipients sell, according to the Tokenomist methodology cited in the report.

The PYTH event stands out because of its scale relative to existing float. A release of close to 37% of circulating supply concentrates potential selling pressure in a single window, though absorption depends on exchange liquidity and holder behavior, the report said.

LayerZero, a cross-chain messaging protocol, has logged consistent trading volume since the ZRO launch, the data showed. The smaller releases for KAITO, MBG, SOON and SOSO carry lower headline figures but remain relevant to traders positioned in those specific markets.

What it means: The week's calendar concentrates the bulk of new supply on May 19 and May 20, with PYTH and ZRO together accounting for $128.06 million of the $153.8 million total. Short-term volatility around those windows is the variable to watch, with the PYTH event the most likely to register on broader market screens.