Big Dump Alert: Top 7 Projects Set to Release Over $215M in Tokens
The crypto market anticipates an influx of tokens surpassing $215.03 million.
Click and Claim Reward DYDX is gearing up to distribute $92 million in tokens to investors, founders, employees, and advisors. Additionally, projects like OP, NYM, SUI, ACA, EUL, and TORN are unlocking multi-million dollar token reserves.
Token Unlock, a tracker of locked tokens, has disclosed details about upcoming token unlocks scheduled between January 29 and February 4 for various crypto projects, totaling over $215.03 million.
Leading the pack is dYdX (DYDX), a decentralized exchange, releasing 33.3 million DYDX tokens on February 1, 10.63% of its circulating supply, valued at $92.67 million.
Token Unlock's breakdown reveals dYdX investors receiving $51 million, and founders, employees, advisors, and consultants getting $28 million, $13 million is allocated for future employees.
The optimism token (OP) plans to unlock 24.16 million tokens on January 30, valued at $75 million. Distribution includes $39 million for core contributors and 35 million units for investors.
Euler (EUL, $0.38 million) and Tornado Cash (TORN, $150k) plan to unlock tokens on February 1. Notably, EUL and TORN have already unlocked 81.19% and 78.92% of their tokens, respectively.
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