The cryptocurrency market will witness a very interesting token lock opening event in the new week.
Aevo (AEVO), which was recently launched as Binance's Launchpool project, will experience a token unlock of approximately $1 billion on Wednesday, May 15, 2024. The token unlocking is expected to take place at 08:00 Türkiye time (UTC+3).
This will be an extremely interesting development considering that AEVO is an altcoin with a market cap of only $132 million. The tokens to be unlocked correspond to 752% of the tokens in circulation.
However, AEVO's vesting table is calculated based on the RBN vesting schedule, with the assumption that all tokens can be converted immediately after unlocking. RBN holders can convert their RBN to AEVO at a 1:1 ratio.
Following the token openings in question, a significant portion of the AEVO maximum supply will be in circulation. AEVO price is trading at $1.20 at the time of writing this article. When it was first launched, the price of the altcoin opened at approximately $3.
*This is not investment advice.