PYTH crypto could crash as potential death cross looms
Pyth Network’s price has dropped over 66% from its yearly high, and technicals point to a further downside.
As of the afternoon on May 21 (Asia time),
-2.39%
The latest slide follows a scheduled token unlock on May 20, which released approximately 2.13 billion PYTH into circulation, valued at $275.11 million.
The unlock, part of Pyth’s annual vesting cycle, represented 58.7% of the circulating supply at the time and was distributed to early investors, contributors, and ecosystem participants.
Following the event, Pyth’s circulating supply has surged to nearly 5.75 billion tokens, around 57.5% of its maximum supply, which is capped at 10 billion. With this unlock, approximately 36% of the total supply is now in active circulation. The final two unlocks are scheduled for May 2026 and May 2027.
Pyth Network dips below mid-band and RSI trends lower as $313M token unlock looms
Large unlocks like this often unsettle investors, as they inject a significant volume of new tokens into the market without a matching rise in demand. That imbalance can lead to downward price pressure. Even if not all recipients offload immediately, many tend to sell early, anticipating further declines.
At the same time, unlocks are often part of a project’s long-term roadmap to distribute ownership more broadly and reward early contributors. They usually mark key milestones in the development cycle.
