In April, 17 altcoin projects are preparing to launch over $330 million worth of tokens. The critical dates are as follows…
April’s ‘token unlock’ dates
According to Token Unlocks data, April will be a very important month for crypto investors. A total of 17 tokens are scheduled to be unlocked this month. These unlocks will put over $330 million in tokens into circulation.
BitDAO (BIT)
The biggest unlock of the month will be unlocked by BitDAO (BIT) on April 15. 187.5 million.32 tokens worth almost $1 billion will be released. This equates to 1.951 percent of its total supply.
Apecoin (APE)
Following BIT, APECoin (APE) is scheduled to unlock more than 15 million tokens worth over $66 million on April 17, accounting for 1.56% of the project’s total supply.
aptos (APT)
Aptos (APT) is set to launch 4.5 million tokens on April 12, which equates to over $52 million.
The total amount from these three unlocks currently stands at $215 million, accounting for 63.7% of the total amount expected to be released in April.
GLMR, DYDX, AXS among other major unlock projects
The remaining tokens will be unlocked by several other projects, including 1-inch (1INCH), Moonbeam (GLMR), and DyDx (DYDX). Here are the projects you should take note of:
- 1inch (1INCH)
- Galx (GAL)
- Tornado Cash (TORN)
- Moonbeam (GLMR)
- DyDx (DYDX)
- Euler
- Sweat Economy (SWEAT)
- NYM (NYM)
- Axie Infinity (AXS)
- Immutable X (IMX)
- Acala (ACA)
- Ronin (RON)
- X2Y2 (X2Y2)
- Yield Guild Games (YGG)
- You can browse the dates on token.unlocks.app.
Price activity can be seen in altcoin projects that will unlock tokens
At the beginning of September 2022, STEPN distributed a total of 4.2 million GMT to users as part of its play-to-win rewards program. The event was followed by the weekly unlocking of approximately 5 million GMTs distributed to users. The GMT price was trading at $0.93 before the token unlock, after which it declined to $0.62.
On the other hand, 231.7 million tokens allocated to the 1inch team, advisors and outside investors were unlocked on December 1, 2021. This was followed by an even larger unlock, which was distributed to seed investors and the company’s reserves, and another 295.2 million tokens were released. Similarly, the 1inch price dropped from $4.59 a month before the event to $2.39.
Most tokens are seeing buying pressure build up to significant planned unlocks followed by a price correction. In most cases, this price correction is short-lived and quickly turns into slow and steady growth for the token. Also, some tokens may not follow this pattern. cryptocoin.com In this article, we have included altcoin projects that have recently unlocked tokens.
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