**Token Unlocks in November 2023: What You Need to Know**
Token unlocks are significant events in the world of cryptocurrency, as they can greatly impact token prices. It’s crucial to stay informed about upcoming token unlocks, and our research reveals that November 2023 will see a total of $450 million in token unlocks. Let’s take a closer look at some of the most important unlocks happening this month for major altcoins.
**1) Hashflow (HFT)**
Hashflow, a decentralized exchange operating across multiple blockchains, is preparing for one of the largest unlocks ever seen. On November 7, Hashflow plans to release 160.4 million of its HFT tokens, valued at approximately $41.3 million. This unlock represents about 74% of its circulating supply, making it a significant event for traders and investors.
Today, trading fees officially launched on Hashflow, with dynamic fees on blue-chip trading pairs and static fees on non blue-chip pairs. Keep an eye on the price after this unlock, as it may experience selling pressure before presenting a potential buying opportunity.
**2) Aptos (APT)**
Aptos, a Layer 1 platform, has the highest unlock value for November 2023. On November 12, Aptos plans to release 24.8 million APT tokens, worth around $172.9 million and accounting for 10% of its circulating supply. The majority of these tokens will be allocated to core contributors and investors, with a smaller portion reserved for the community and the Aptos Foundation.
In October, Aptos had a smaller release of 4.5 million APT tokens valued at $31.6 million. Following this unlock, the price of APT increased by almost 2%, indicating potential positive market sentiment. As early investors and insiders receive a large percentage of the unlock, their decision to sell or hold will be interesting to watch.
**3) Avalanche (AVAX)**
Avalanche, a Layer 1 blockchain, has a significant unlock scheduled for November. On November 24, Avalanche will release 9.5 million AVAX tokens, valued at approximately $112.59 million and accounting for 2.7% of its circulating supply. The allocation of these tokens includes portions for the Avalanche team, strategic partners, the Avalanche Foundation, and a possible airdrop.
It’s worth noting that Avalanche releases 100,000 AVAX tokens daily for staking rewards. Although this unlock is substantial in terms of dollars, its impact on token supply is relatively low. However, there is still a possibility that participants may choose to sell their unlocked tokens.
**Hot Take:**
Token unlocks in November 2023 are set to have a significant impact on the cryptocurrency market. As these unlocks occur, it’s important to closely monitor price movements and consider the potential effects on supply and demand. While some tokens may experience selling pressure after an unlock, this could present an opportunity for buyers to enter the market at a lower price. Stay informed and make strategic decisions based on the unfolding events in the crypto world.
Sources:
– [Hashflow Twitter](https://twitter.com/hashflow/status/1588m)
– [Aptos Twitter](https://twitter.com/Aptos_Network/status/1729m)
– [Avalanche Twitter](https://twitter.com/avax/status/11259m)
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