April 2024 will be an important month in altcoin markets. According to data from the TokenUnlocks platform, 17 projects are preparing to unlock over $10 million worth of tokens each in April. The total value of these “large value” unlocks will exceed $1.38 billion. The project with the highest unlock value will be Aptos. Aptos will unlock 24.84 million APT tokens worth $409.89 million on April 12. This will represent 6.25% of the total APT supply in the cryptocurrency ecosystem. Here are the details…
April is critical for altcoin projects
Cryptoasset aggregation platform TokenUnlocks’ token unlock schedule shows 17 cryptocurrencies with individual token unlock values of more than $10 million in April. According to data on the platform’s website, the total of “large value” unlocks will exceed $1.38 billion. The table shows that enforcement will begin on April 1 and continue throughout the month until April 30. However, unlocking activities will not be recorded on all days of the month, and on some days more than one unlocking will be performed.
As reported by Colin Wu, a well-known crypto journalist, the 17 “large value” crypto tokens scheduled to be unlocked in April include DYDX, ZETA, SUI, GAL, APT, CYBER, and STRK, and are scheduled to be unlocked in the first half of April. Between April 16-30, ARB, APE, AXS, IMX, PIXEL, ID, YGG, AGIX, OP and PRIME will conduct unlocking programs.
The biggest unlocks will take place in Aptos and DYDX
According to data from the Token Unlocking platform, APT will record the highest token unlocking by value. The Aptos blockchain project will unlock 24.84 million APT tokens worth $409.89 million on April 12, 2024. This will represent 6.25% of the total APT supply in the cryptocurrency ecosystem.
While APT will record the highest figure in the “large value” rating, DYDX will lead the supply rate ranking among listed tokens. The decentralized exchange (DEX) native token will unlock 33.33 million DYDX tokens worth $113.33 million, delivering 11.35% of its total supply to the crypto market.
DYDX will launch its token unlock program together with ZETA, ZetaChain’s utility token, in April. PRIME, the official cryptocurrency of Prime Worldwide, will complete its “large value” unlocks for April by unlocking 1.66 million tokens worth $36.23 million on April 30, representing 4.44% of its total supply.
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