Approximately $830 million in vested digital assets are set for release into the markets in December. The largest release will come from the decentralized exchange dYdX, which is set to unlock 150 million tokens reserved for investors, founders, and employees. With the current market values, these tokens are valued at nearly $500 million.
Lookonchainâs recent tweet indicates that on December 1st, 2023, Dydx will release 150 million tokens. Of this, $280.35 million worth of tokens will be accessible to investors. Additionally, other altcoins such as Immutable X (IMX), 1INCH, Hedera (HBAR), and Sui (SUI) are also preparing for their upcoming rounds of token unlocks in the following days.
Token unlock events result in an increased supply of the asset, as coins previously held in a vesting period, including those for early investors, are released. Such significant unlockings often cause price drops, as the surge in supply exceeds the demand from investors, as revealed by a study conducted earlier this year by the crypto analytics firm The Tie.
