Largest tokens worth $2.68B to unlock in November
Previously locked or vested tokens become available for trading
The cryptocurrency market is set for a significant influx of digital assets in November, with approximately $2.68 billion worth of tokens scheduled for unlocking. This development has captured the attention of market analysts and investors alike, as it could introduce new dynamics into the already volatile crypto landscape.
According to Cointelegraph, major projects like Memecoin, Aptos, Optimism, Avalanche, and Arbitrum will contribute the largest portions of token releases this month. Token unlocking events typically happen when previously locked or vested tokens become available for trading or distribution. These events can impact the market by increasing token supply, which may affect their price, depending on demand and prevailing market conditions.
Plans of the largest crypto projects
Layer-1 blockchain Aptos is preparing to unlock 11.31 million tokens worth $93 million, of which $32 million will be distributed to the project's core participants, $26 million to the community, $11 million to the fund, and $23 million to investors. APT's current token price is around $8.24, which is 54% below its 2024 high of $18.14.
Meme project Memecoin plans to unlock 3.45 billion coins worth about $37.8 million for its airdrop, as well as perform linear token unlocking for depositors. More than 10 million MEME tokens worth about $117,000 will be issued daily. The MEME token is currently priced at $0.010, 81% below its high of $0.053 in 2024.
Optimism, a Layer 2 scaling solution for Ethereum, is set to issue 31.4 million tokens worth $44 million. The increase in circulating supply could influence the project’s valuation and investor sentiment, potentially affecting its competitive positioning among other scaling solutions. Similarly, ApeCoin, linked to the Bored Ape Yacht Club ecosystem, is expected to release tokens valued at approximately $300 million. Axie Infinity, known for its pioneering role in blockchain-based gaming, will unlock $170 million worth of tokens, adding to its existing market activity.
Market participants often approach token unlocks with caution due to the potential for price volatility. An influx of newly available tokens can lead to selling pressure, particularly if early investors or team members choose to liquidate their holdings. However, not all token releases negatively impact price; in some cases, the anticipation of increased liquidity can attract new buyers, balancing out the supply surge.
The scheduled release of $2.68 billion in tokens this November underscores the importance of tracking tokenomics within the digital asset space. The way these unlocks play out could provide insight into investor behavior and the resilience of individual projects during periods of increased token availability. As the cryptocurrency market continues to mature, understanding the implications of such large-scale events is crucial for both short-term traders and long-term investors.
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