- Over $480 million in tokens from numerous projects will be unlocked next month.
- APT has the most staggering unlock value as $237 million tokens would be released.
- Several other projects with unlock events in January include dYdX, OP, and INJ.
The crypto community has been abuzz with the sheer weight of crypto tokens set to flood the market in January alone. A DeFi researcher with X username recently called public attention to 12 crypto projects with plans to unleash multi-million dollar coins throughout January. Data from notable tracking platforms such as Token Unlock backed the information in the curated list.
The native token of the prominent decentralized exchange dYdX (DYDX) led the pack as its next unlock is scheduled for tomorrow, the first day of the new year. The dYdX team will release 33.3 million tokens that comprise 12.36% of the circulating supply. Notably, the to-be-freed assets hold a market value estimated at approximately $101,000,000.
Notably, dYdX investors will receive about $60 million, while founders, employees, advisors, and consultants will collectively receive over $31 million. Additionally, $14 million has been allocated for future employees.
On January 3, the team behind the Sui (SUI) token would unleash 34.62 million coins valued at over $27.6 million. Note that this project released four million tokens yesterday, worth over $3.2 million. Meanwhile, yesterday’s release went to the community reserve, while the January 3 unlock is allocated to the community access program.
Another noteworthy project scheduled for an unlock event in the first week of January is Galxe (GAL). The team intends to release three million units of GAL on January 5, valued at around $7 million. The distribution plans to allocate funds to marketing, the project team, and the community.
Similarly, the team behind Aptos (APT) would set free a more staggering dollar value of coins by January 12. In particular, APT tokens valued at over $237 million would enter the crypto market on the said date.
Several other projects with scheduled token unlock events in January include Optimism (OP), Acala (ACA), Liquidity (LQTY), Tornado Cash (TORN), GMT, APE, Axie Infinity (AXS), and Injective (INJ). At the time of writing, the dollar sum of the tokens to be released in January exceeded $488,000,000 based on each token’s market value.
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