Crypto Token Unlocks To Cross $700 Million In February 2024, Here Are The Culprits
2024年2月5日 - 8:00PM
NEWSBTC
February is set to be a hot point for crypto assets, with several
cryptocurrencies set to release over $800 million worth of assets
during the month. According to data from TokenUnlocks, 26 crypto
projects are set to carry out token unlocks in February,
potentially flooding the crypto market with almost $1 billion worth
of crypto assets. Most of this liquidity is set to come from
Avalanche (AVAX), with approximately $345 million worth of AVAX set
to hit the market in the middle of February. February 2024 Set To
See Massive Crypto Unlocks Many major projects like Aptos (APT),
The Sandbox (SAND), and Avalanche (AVAX) have unlocking events
scheduled for February 2024. Avalanche, for instance, is set to
unlock 9.54 million AVAX tokens, representing 2.6% of the total
supply on February 22. This token unlock is set to be allocated in
four batches, with 2.25 million AVAX tokens going to strategic
partners, 1.67 million tokens to the foundation, 4.50 million
tokens to the Avalanche team, and 1.13 million tokens as airdrops.
Related Reading: Why This Crypto Report Suggests Solana As A Main
Focus For The Next Bull Market Aptos (APT) will unlock 7.34% of its
total supply on February 11 to the tune of 24.84 million APT tokens
worth $228.55 million. In the same vein, metaverse platform The
Sandbox will unlock $205.59 million SAND tokens, representing 9.19%
of its circulating supply, on February 14. At the time of writing,
these tokens are worth $90.46 million. Ethereum L2 blockchain
Optimism is also set to unlock 24.16 million OP tokens worth $71.51
million on February 29. This represents 2.52% of its total supply.
Other notable tokens also set for unlock include SUI, Algorand
(ALGO), ApeCoin (APE), MANTA, and AGIX. Once unlocked, these tokens
are free to be sold on the open market How Will These Unlocks
Impact Prices And Investors? Crypto unlocks among altcoins are not
a new phenomenon in the crypto industry, and they tend to have both
positive and negative impacts on the price of such crypto assets.
However, once those locked tokens are unlocked, they can enter the
open market. This means that a large supply of tokens may
become available for trading simultaneously. If any of those newly
unlocked tokens are sold right away, it can put downward pressure
on the price as the supply overwhelms demand. Related Reading: Will
BNB Continue To Drop Or Bounce Back To Create A New All-Time High?
At the time of writing, the crypto market is at somewhat of a
standstill in terms of price volatility, although some
cryptocurrencies like Chainlink (LINK) are currently on substantial
gains in the past seven days. Chainlink also recently
witnessed an unlock of 19 million LINK tokens worth $341 million.
Following this, 16 million tokens were deposited into the crypto
exchange Binance immediately, suggesting a sell-off. Total market
cap at $1.6 trillion | Source: Crypto Total Market Cap on
Tradingview.com Featured image from Great Bridge Links, chart from
Tradingview.com
Avalanche (COIN:AVAXUSD)
過去 株価チャート
から 3 2024 まで 4 2024
Avalanche (COIN:AVAXUSD)
過去 株価チャート
から 4 2023 まで 4 2024