Aptos: Largest Token Unlock Worth $172.9 Million
Aptos, a Layer 1 blockchain founded by ex-Meta executives, is set to have the largest token unlock this month. On November 12, Aptos will release 24.8 million APT tokens, which is equivalent to 10% of its circulating supply and worth approximately $172.9 million. According to TokenUnlocks data, the majority of these tokens will go to core contributors ($82.7 million), investors ($58.6 million), the community ($22.3 million), and the Aptos Foundation ($9.3 million).
Despite a five-hour network outage in October, the price of APT rose around 2% following the smaller release of 4.5 million APT tokens ($31.6 million). Currently, APT is trading at $6.93, reflecting a 43% increase since the last unlock.
Avalanche: Unlocking $107 Million Worth of Tokens
In November, Avalanche, a Layer 1 blockchain, will unlock 9.5 million AVAX tokens on November 24. Representing 2.7% of its circulating supply, these tokens are currently valued at $106.9 million. The distribution of funds includes $50.4 million for the project’s team, $25.2 million for strategic partners, $18.7 million for the Avalanche Foundation, and $12.6 million set aside for a possible airdrop.
Following Avalanche’s last token unlock in August, where an equal amount of tokens were released, AVAX experienced a 12.5% decrease in value within 30 days. However, since that unlock event, AVAX has seen an 11% increase and is currently trading at $11.15.
Hashflow: Releasing 74% of Circulating Supply
Hashflow, a multi-chain decentralized exchange, will release 160.4 million HFT tokens on November 7. This amounts to 73.9% of its circulating supply and is valued at approximately $41.3 million. The distribution includes $16.1 million for early investors, $12.7 million for ecosystem development, $12.4 million for the core team, and $107,000 for community rewards.
Last month, Hashflow released 3.2 million HFT tokens ($830,000), resulting in a price decrease of over 34% within two weeks before recovering. Currently, HFT is trading at $0.26, reflecting a 19% decrease since its last token unlock.
Other Notable Token Unlocks
In addition to Aptos, Avalanche, and Hashflow, there are several other notable token unlocks happening in November:
- Optimism: Unlocking $33.3 million worth of tokens
- ApeCoin: Unlocking $20.8 million worth of tokens
- Sui: Unlocking $15.5 million worth of tokens
Hot Take: Crypto Projects Unlocking Over $450 Million Worth of Tokens in November
This month marks significant token unlocks for various crypto projects, with a total value of over $450 million. Aptos leads the way with the largest token unlock worth $172.9 million, followed by Avalanche unlocking tokens valued at $106.9 million and Hashflow releasing tokens worth $41.3 million.
The impact of these unlocks on token prices varies, with APT experiencing a bullish market trend despite network outages, AVAX showing an increase since the previous unlock, and HFT facing a price decrease. It will be interesting to observe how these token unlocks influence the overall market dynamics in the coming weeks.
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