The Crypto Market Welcomes Over $1.7 Billion in Token Unlocks in April
As the crypto market gears up for the month of April, there is a substantial influx of assets anticipated to hit the market. With over $1.7 billion worth of tokens scheduled for release, some notable projects include Aptos, Axie Infinity, Arbitrum, and Ronin tokens. Token unlocks have become a popular strategy among projects to gradually introduce locked assets into the market over a set period. While proponents argue that this method aligns incentives, it often results in short-term volatility and price fluctuations.
- CryptoRank, a top crypto research and analytics platform, has highlighted the top 10 token unlock events in April, totaling over $1.7 billion.
- Approximately $250 million worth of assets are set to be unlocked in the first week of April.
Leading the pack is Aptos, a Layer 1 network, with a planned release of 24.84 million tokens valued at around $418.75 million on April 12. Axie Infinity, a popular play-to-earn gaming platform, will unveil 14.8 million AXS tokens worth $167.40 million on April 17.
The Unveiling of Various Token Unlocks
- Arbitrum, Ethereum’s premier Layer 2 network, is planning to unlock 92.63 million tokens valued at over $152 million on April 16.
- Ronin Bridge will release 36.81 million tokens worth $151.66 million.
- StarkNet, a Layer 2 network, will introduce 63.99 million tokens valued at $139 million.
Sui is also expected to release around 65 million tokens worth $127 million, while decentralized exchange dYdX will unlock 33.3 million tokens valued at approximately $116.7 million. Additionally, the Uniswap protocol, SEI, and Immutable are set to release $104 million worth of assets each.
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