Locked Crypto Assets Valued at $750 Million Set for Release
According to data from the Token Unlocks platform, there are $750 million worth of locked crypto assets that are set to be released by December 2023.
dYdX to Make the Most Significant Release
dYdX, a decentralized exchange, is planning to release about 150 million tokens on December 1, 2023. These tokens were initially locked by investors, the founding team, and developers and are valued at around $500 million in the current market.
Schedule for Token Releases
Besides dYdX, other protocols are also planning to release vested tokens into the market. The 1Inch Network plans to release 98.74 million tokens on the same day as dYdX. Optimism will unlock 24.16 million tokens by November 30, and Aptos will undergo a token emission of over 24.84 million tokens.
Bearish Market Performance
The crypto market has experienced a significant downturn since May 2022, with a decline of over 50% from its peak. However, there is currently a shift towards a bullish trend led by Bitcoin.
Growing Interest in the Crypto Market
Despite the bearish trend, there is still strong interest in the crypto market. The Crypto Fear & Greed Index indicates strong greed among investors.
Hot Take: Little Impact on Long-Term Performance
The scheduled token releases are unlikely to have a significant impact on the long-term performance of the broader crypto market.
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