Token Releases in November Could Increase Supply by $443 Million
In October, the cryptocurrency market experienced a significant bullish trend, with Bitcoin (BTC) surging by around 30%. However, there are several major token unlocks scheduled for November that could impact the market.
HFT Will Release 74% of Its Circulating Supply
According to calculations by BeInCrypto based on Token Unlock’s data, crypto projects are set to unlock tokens worth nearly $443 million next month. Hashflow (HFT) is one of the projects with a substantial number of unlocks.
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On November 7, Hashflow will unlock 74% of its circulating supply, which amounts to 160.38 million tokens valued at $44.97 million. The beneficiaries of this unlock include the core team, community rewards, ecosystem development, and early investors.
Avalanche’s $110 Million Token Unlock
Avalanche, a Layer 1 project, will unlock 9.54 million AVAX tokens worth $109.64 million on November 24. These tokens represent 2.69% of its circulating supply.
The beneficiaries of this unlock include strategic partners, the Avalanche Foundation, the team, and airdrop winners.
Aptos Will Unlock Over $170 Million Worth of APT Tokens
Aptos (APT), a Layer 1 blockchain project, is expected to have the highest unlock value among all the tokens scheduled for November. The project will release 24.84 million APT tokens worth $171.16 million, representing 10.05% of its circulating supply.
The beneficiaries of this unlock include the Foundation, core contributors, investors, and the community.
Hot Take: Potential Impact on Token Prices
While October was a positive month for investors, it’s important to consider the potential impact of these token unlocks on their prices. However, it should be noted that the unlocks may not necessarily have a significant effect on the price of these cryptocurrencies.
