The crypto market will unlock major tokens in November, led by projects such as Aptos, Avalanche and Hashflow. More than $320 million in tokens will enter the market through these unlocks. Thus, it will contribute to the total $450 million that will circulate in the crypto market this month. Meanwhile, WuBlockchain draws attention to 7 altcoin projects, which are also in the basket of the Turks.
These 7 altcoins in the Turks’ basket will be unlocked!
Token unlocks are events where previously locked tokens become available for trading, often increasing a project’s circulating supply. These events mark a new phase of maturation and market dynamics. That’s why these are critical moments for altcoin projects. Crypto news platform WuBlockchain shared the list of projects with major token unlock events in November. In this context, WuBlockchain drew attention to 7 prominent altcoins:
Sui Network (SUI), IMX (IMX), HashFlow (HFT), Aptos (APT), Apecoin (APE), Avalanche (AVAX) and Optimism (OP), which had an unlock value of over $396 million in November, according to TokenUnlocks ) etc. There are large amount of unlocks (more than 10 million dollars).
Aptos, Avalanche and Hashflow The best players in November unlock
Aptos, a Layer 1 Blockchain created by former Meta executives, is expected to unlock the most significant token in terms of value, currently issuing 24.8 million APT tokens, representing approximately $170.92 million at today’s price. According to the program, Aptos will hold this event on November 12. This event is also remarkable in terms of its distribution. Because the main contributors, investors, the community and the Aptos Foundation will receive a portion of the release.
Meanwhile, another Layer 1 Blockchain, Avalanche, is set to launch later in the month, on November 24, with 9.54 million AVAX tokens (worth about $105.53 million at today’s price) marking 2.7% of its circulating supply. Eden is preparing to unlock important tokens. Hashflow, a multi-chain decentralized exchange, is planned to have the largest token issuance by percentage of circulating supply. It will launch 160.38 million HFT tokens on November 7, which is approximately 73.9% of its circulating supply. Thus, the altcoin project is preparing to inject approximately 41 million dollars into the market.
Other important altcoin unlock events in November
Other projects such as Optimism (OP), ApeCoin (APE), and Sui (SUI) will also unlock significant amounts of tokens. However, they pale in comparison to the top three in terms of value. Optimism will unlock 24.16 million OP tokens worth $32.86 million. Apecoin will release 15.60 million APE tokens worth $20.28 million. SUI will unlock 34.62 million tokens worth $15 million at today’s market prices. IMX will release 18.08 million tokens worth $11.5 million.
Each unlock has the potential to impact liquidity, trading volume and investor sentiment. It also has potential ramifications for the broader crypto market. Moreover, among the above 7 altcoins that will be unlocked, Aptos and Avalanche attract particular attention.
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