Get ready for another round of token unlocks shaping up in the market this month. Data indicates significant unlocks, surpassing $10 million in November, with notable tokens like SUI, IMX, HFT, APT, APE, AVAX, OP, and more.

A staggering nearly $400 million worth of assets are poised to enter circulation after these unlock events.

Unlocking New Tokens:

As per TokenUnlocks website, SUI took the lead in the first week of November, unlocking 34.62 million tokens valued at around $15.9 million. These tokens are designated for allocation to the Community Access Program.

The second notable unlock is for Aptos in the second week of November – the layer 1 blockchain developed by former Meta executives – with 24.8 million APT tokens set for release. This event is significant, involving core contributors, investors, the community, and the Aptos Foundation receiving portions.

ApeCoin (APE) is expected to unlock on November 17th, revealing 15.60 million APE tokens, currently valued at around $121.22 million.

Avalanche’s native token, AVAX, is also gearing up for a token unlock later in November, releasing 9.54 million AVAX tokens valued at around $9112.50 million.

Closing out the month, Optimism (OP) is scheduled for the last week of November, unlocking 24.16 million OP tokens, worth approximately $34.31 million.

source: cryptopotato/com

Market Impact

A token lockup, often referred to as a vesting period, designates a specific duration during which tokens cannot be traded or converted into cash. The lockup period varies based on the team’s strategy and can extend over several years.

The introduction of new crypto tokens typically heightens selling pressure on assets, influenced by the quantity of unlocked tokens and their entry into cryptocurrency exchanges. While past token unlocks have seen increased downward pressure, the current market recovery suggests a significant drawdown is unlikely.

Conclusion:

As the crypto market undergoes these token unlocks, making informed investment choices is crucial. For comprehensive guidance and expert insights into crypto tokens, consider reaching out to Developcoins, a leading token development company. As pioneers in the industry, we stay updated on all crypto token developments, providing you with valuable assistance in making wise investment decisions.