Token unlocking crypto- This is a situation that is often wondered about in the market. Major token unlocks have the potential to impact the crypto market. In particular, projects such as Optimism (OP), Avalanche (AVAX), The Sandbox (SAND), Aptos (APT), and Sui (SUI) are among those with the highest unlock rate.
Usually when a new crypto project is launched, tokens are locked for a certain period of time. During this period, it cannot be traded by its owners. However, once the token is unlocked, holders can now sell or transfer their tokens.
Largest Token Unlocking Transaction
According to compiled data, various crypto projects will unlock a total of approximately $982.78 million worth of tokens. Among these projects, Avalanche’s token unlock amount is the highest.
The screenshot below from Token Unlocks shows that on February 22, Avalanche will unlock 2.60% of its circulating supply. Based on the current market price, the 9.54 million AVAX tokens to be unlocked are worth $344.17 million.
Will Aptos Token Locks Cause Its Price to Drop Once Again?
The screenshot below shows the number of tokens Aptos will open on February 11, 2024. The image shows that it will unlock 24.84 million APT tokens worth $229.54 million.
The project had previously unlocked the same amount of tokens on January 12, 2024 and December 12, 2023. During previous unlocks, the screenshot below shows that the price of APT tokens dropped by 17.94% and 14.10% respectively.
Is it possible for the correction in token prices after the unlocking process to be repeated on February 11, 2024?
95 Million Dollar Sandbox Will Be Released
Sandbox unlocks tokens twice a year, in February and August. The first opening of the project for 2024 is planned to be held on February 14, 2024.
The screenshot below shows that the project is planned to unlock 205.59 million SAND tokens, accounting for 9.19% of the circulating supply. At the current market price, the tokens are worth $95.47 million.
Millions of Dollars of Optimism and Sui Will Be Released to the Market
On the last day of February, Optimism will put 24.16 million OP tokens into circulation for core participants and investors. At the time of writing, these tokens were worth $76.58 million.
Additionally, Sui will release 34.62 million tokens worth $54 million. The Sui token is scheduled to be unlocked on February 3.
Crypto traders and investors follow events such as token unlocks. However, it is worth noting that the event may not necessarily cause a token price to drop. The performance of tokens is affected by various factors.