Token Unlocks’ 2022 Annual Report estimates that $102 billion worth of altcoins will be unlocked in 2023. cryptocoin.com We have compiled the information we have collected about the locks that are opened and the locks to be opened for you.
These altcoin locks have high values
In the report, XRP, FIL, and OP were the 3 altcoins with estimated largest locked valuations of $17.9 billion, $4.9 billion and $3.7 billion, respectively.
The data shows that December 2022 ended with $102.1 billion worth of tokens locked in Fully Diluted Value (FDV) of $570.8 billion and a market cap of $468.7 billion. Dividing the market cap by FDV, the report concludes that 82.1% of all fixed-supply tokens are already in free circulation in the market.
15 projects with the most significant estimated locked value
The report states that 15 projects account for more than 75% of the total illiquid tokens. An estimated six of the top 15 unlocks are worth less than $1 billion. By comparison, two are expected to equate to roughly $1 billion, and the remaining seven would be worth more than one billion dollars.
The listing reveals that Ripple (XRP) ranks first with a total of $17.9 billion in locked tokens. Filecoin (FIL) and Optimism (OP) follow XRP in second and third place with locked values of $4.9 billion and $3.7 billion respectively.
Chainlink (LINK), BitDAO (BIT), ApeCoin (APE), and STEPN (GMT) are also ranked over $1 billion. Hedera (HBAR) and Axie Infinity (AXS) are estimated to have around $1 billion worth of tokens locked.
Altcoins unlocked so far
So far, four unlocks have released a total of $126 million worth of tokens. BIT and APE are in the top 15 lists of these four. BIT and APE issued $67 million and $28 million worth of tokens on January 15 and 17, respectively.
Although not included in the ranking above, Moonbeam (GLMR) had the first unlock of the year. It took place on January 11 and unlocked $15 million worth of GLMR tokens. On January 12, Aptos (APT) also unlocked $16 million worth of tokens.
Unlocking upcoming altcoins
The next unlock in the above list will be from AXS on January 23, and the project will issue 4.8 million tokens worth $31 million. They will launch their tokens in February, following AXS, GMT, and dYdX (DYDX) on the list.
GMT will begin linear unlocking on February 1, issuing $588,608 worth of tokens per day. On February 3, DYDX will issue 150 million tokens, equivalent to 15% of its total supply and approximately $195 million.
The next unlock on the list will happen on May 31 and will come from the OP, the project with the third largest estimated locked value. The project will release 3.6% of the total 154,618,822.65 OP token supply. The total unlocked value is expected to be approximately $253 million.
The last unlock scheduled among the top 15 is from the Curve DAO (CRV). On August 14, the project will begin the linear unlock period by issuing $411,902 worth of tokens daily.
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