Reporting on upcoming unlock events, Token Unlocks shared altcoin projects that are poised to launch billions of tokens in 2023. At the top of the list is Ripple (XRP), which is preparing to release nearly $18 billion worth of tokens.
These altcoin projects will release billions of tokens in 2023
Tokens that remain locked for a set period of time often put negative pressure on the price as soon as they enter circulation. As long as the tokens remain locked, it provides reassurance to stakeholders by removing selling pressure. Data obtained by Token Unlocks says that in 2023, the most XRP, Filecoin (FIL), and Optimism (OP) will unlock. During the year, $17.9 billion worth of XRP, 4.9 billion FIL and $3.7 billion OP tokens will enter circulation.
The general view of the list, which also includes metaverse coins such as GALA and AXS:
- Ripple (XRP): $17.9 billion
- Filecoin (FIL): $4.9 billion
- Optimism (OP): $3.7 billion
- Chainlink (LINK): $2.9 billion
- BitDAO (BIT): $2.5 billion
- ApeCoin (APE): $2.3 billion
- STEPN (GMT): $1.4 billion
- Hedera (HBAR): $1 billion
- Axie Infinity (AXS): $1 billion
- dYdX (DYDX): $900 million
- Ethereum Name Service (ENS): $800 million
- Kadena (KDA): $700 million
- Curve DAO (CRV): $600 million
- PancakeSwap (CAKE): $600 million
- Gala (GALA): $500 million
Could it be sales pressure?
The supply of cryptocurrencies determines how many coins will be available at any given time and can be a circulating, maximum, or total supply. The supply of any altcoin refers to the sum of the circulating supply and locked cryptocurrencies, which is a smart contract that a third party holds temporarily until a specified and agreed condition is met. The maximum supply is the upper limit on the number of tokens that can be produced, while the circulating supply is the number of tokens available in the market and available for trading.
For example, on the first day of the new year, exactly 1 billion XRP was unlocked from escrow accounts. While such events are considered commonplace and commonplace for many in the XRP community, they can also lead to destruction, as this time around. While 55% of Ripple’s initially determined supply of 100 billion XRP was locked in such accounts, that number has now fallen to 42.7%. Now another $18 billion will be freed through 2023
cryptocoin.com As we reported, Chainlink (LINK) has recently withdrawn 24 million tokens to its first batch of shares. While the cryptocurrency markets are currently trying to survive the crypto winter, the huge interest in Chainlink’s (LINK) new staking initiative shows that some investors and consumers are still willing to invest in crypto companies.
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