Note: Millions of Dollars in Tokens Unlocked in February, Here Are Those Cryptocurrencies!
Token unlocking is an often wondered situation in the crypto market. The unlocking of major coins has the potential to impact the crypto market. It is worth noting that projects such as Optimism (OP), Avalanche (AVAX), The Sandbox (SAND), Aptos (APT), and Sui (SUI) are the projects with the highest unlock rates.
Typically, when a new crypto project is launched, the tokens are locked for a period of time. Owners also cannot trade during this period. However, once the tokens are unlocked, holders can now sell or transfer their tokens.
Maximum Token Unlocking Process
According to the compiled data, various crypto projects will unlock a total of approximately $982.78 million worth of tokens. Among these projects, Avalanche has the highest number of token unlocks.
The screenshot below from Token Unlock shows that on February 22, Avalanche will unlock 2.60% of its circulating supply. At current market prices, of the 9.54 million AVAX to be unlocked, the token is worth a whopping $344.17 million.
Will the Aptos token lock cause its price to drop again?
The screenshot below shows the number of tokens Aptos will open on February 11, 2024. The image shows that 24.84 million APT worth $229.54 million will unlock his tokens.
The project previously unlocked the same number of tokens on January 12, 2024 and December 12, 2023. During the previous unlocking process, the screenshot below shows the price of the APT token falling by 17.94% and 14.10% respectively.
Is it possible that the token price correction following the unlocking process will be repeated on February 11, 2024?
$95 million sandbox to go into circulation
The sandbox unlocks tokens twice a year, in February and August. The project plans to hold its first opening in 2024 on February 14, 2024.
The screenshot below shows that the project plans to unlock 205.59 million SAND, with the token accounting for 9.19% of the circulating supply. At current market prices, the tokens are worth $95.47 million.
Multi-million dollar optimism and Sui will be unleashed on the market
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