Token Unlock, the platform that tracks locked tokens, announced the features of upcoming unlocks. Unlocking process is various crypto- projects were planned for January 29 and February 4. This statement sheds light on the characteristics of over $215.03 million worth of tokens set to enter the crypto market in the next seven days.
Chief among these projects is the token of the famous decentralized exchange dYdX (DYDX). According to market data, dYdX The team will release 33.3 million DYDX tokens on February 1. This figure equates to a market cap of $92.67 million at press time, considering DYDX’s valuation. Significantly, these 33.3 million tokens account for 10.63% of the circulating supply.
Additionally, Token Unlock has revealed a detailed breakdown of the recipients of the upcoming unlock event. Specifically, dYdX investors are set to receive $51 million, while founders, employees, consultants, and advisors are set to receive $28 million. Additionally, $13 million has been set aside for future employees.
Optimism (OP) has kept a close eye on dYdX with an unlock event planned for the last week of January. The OP team plans to release 24.16 million units of OP with a market cap of $75 million on January 30. Regarding the distribution, $39 million was allocated for core participants, while 35 million units were allocated to investors.
Koinfinans.com As we reported, other projects include NYM ($9.48 million), SUI ($45.56 million) and Acala (ACA, $2.11 million). Meanwhile, Euler (EUL, $0.38 million) and Tornado Cash (TORN, $150K) plan to unlock tokens on February 1. So far it has unlocked 81.19% and 78.92% of EUL and TORN tokens respectively.