In this rapidly evolving cryptocurrency landscape, token unlocks play an important role in market structure and investor sentiment. As we move into 2024, several major tokens worth around $2,133 million are ready to unlock, creating an opportunity for investors and crypto enthusiasts. Let’s understand which tokens will be unlocked in January 2024.

Get ready for a massive unlock in the first month of 2024, featuring a total of $2,133 m in JAN alone Read now to find out about the upcoming unlocks for next month and up to the next two quarters Is your watchlist token on here? Find out now:https://t.co/OAYbjfciCX

— Token Unlocks (@Token_Unlocks) December 26, 2023

$108 million DYDX token unlock

In the New Year, January 2024, approximately 13 tokens are set to unlock. The first token is DYDX, a significant player in the decentralized finance (DeFi) landscape. Recently, in December 2023, DYDX unlocked tokens worth $500 million, and today, on January 1, 2024, DYDX is ready to unlock another $108 million worth of tokens.

Looking at the percentage of supply and market capitalization, over 33 million DYDX tokens, constituting 3.33% of the total supply, and $108.6 million, equal to 12.3% of the market cap, will be unlocked. This token unlock will be distributed among employees, consultants, investors, and future employees.

Over $57 million worth of SUI tokens unlock

The second token unlock will occur in SUI, a first-of-its-kind layer 1 blockchain, scheduled for January 3, 2024. In SUI, over $57 million worth of tokens will be unlocked, accounting for around 69.13 million SUI tokens (0.69% of the total supply). This token unlock will be distributed among the mysten labs’ treasury, community access program, community reserves, and state subsidies.

Over $25 million worth of APECOIN tokens unlock

Another notable token set to unlock is APECOIN, an ERC-20 governance and utility token used within the APE ecosystem, scheduled for January 17, 2024. In APECOIN, over $25.67 million worth of tokens will be unlocked, constituting around 15.38 million APECOIN (1.54% of the total supply). The token distribution will include Yuga Labs, DAO treasury, Founders, and charity.

Over $31 million worth of AXS tokens unlock

Axie Infinity (AXE), a blockchain-based trading and battling game, is also scheduled to unlock on January 18, 2024. In AXS, over $31.69 million worth of tokens will be unlocked, representing around 3.43 million AXS tokens (1.27% of the total supply). The token unlock in this case will be distributed as a staking reward.

Several other tokens are set to unlock, including the GMT token on January 9, 2024, the APTOS token on January 12, 2024, the SEI token on January 15, 2024, the Fusionist token on January 18, 2024, Injective token on January 21, 2024, Mintlayer token on January 21, 2024, AXELAR token on January 27, 2024, and the last token, RONIN, on January 27, 2024. This significant unlocking in these tokens may impact the price of the specific token as well as investors’ sentiment.

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