{"id":573366,"date":"2024-02-05T11:00:35","date_gmt":"2024-02-05T11:00:35","guid":{"rendered":"https:\/\/uniquehot.com\/?p=573366"},"modified":"2024-06-11T08:31:32","modified_gmt":"2024-06-11T08:31:32","slug":"crypto-token-unlocks-700-million","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/crypto-token-unlocks-700-million\/","title":{"rendered":"Crypto Token Unlocks To Cross $700 Million In February 2024, Here Are The Culprits"},"content":{"rendered":"<p><span style=\"font-weight: 400\">February is set to be a hot point for crypto assets, with several cryptocurrencies set to release over $800 million worth of assets during the month. According to data from TokenUnlocks, 26 crypto projects are set to carry out token unlocks in February, potentially flooding the crypto market with almost $1 billion worth of crypto assets. Most of this liquidity is set to come from Avalanche (AVAX), with approximately $345 million worth of AVAX set to hit the market in the middle of February.<\/span><\/p>\n<h2>February 2024 Set To See Massive Crypto Unlocks<\/h2>\n<p><span style=\"font-weight: 400\">Many major projects like Aptos (APT), The Sandbox (SAND), and Avalanche (AVAX) have unlocking events scheduled for February 2024. Avalanche, for instance, is set to unlock 9.54 million AVAX tokens, representing 2.6% of the total supply on February 22. This token unlock is set to be allocated in four batches, with 2.25 million AVAX tokens going to strategic partners, 1.67 million tokens to the foundation, 4.50 million tokens to the Avalanche team, and 1.13 million tokens as airdrops.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/why-this-crypto-report-suggests-solana-as-a-main-focus-for-the-next-bull-market\/\">Why This Crypto Report Suggests Solana As A Main Focus For The Next Bull Market<\/a><\/div>\n<p><span style=\"font-weight: 400\">Aptos (APT) will unlock 7.34% of its total supply on February 11 to the tune of 24.84 million APT tokens worth $228.55 million. In the same vein, metaverse platform The Sandbox will unlock $205.59 million SAND tokens, representing 9.19% of its circulating supply, on February 14. At the time of writing, these tokens are worth $90.46 million.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ethereum L2 blockchain Optimism is also set to unlock 24.16 million OP tokens worth $71.51 million on February 29. This represents 2.52% of its total supply.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Other notable tokens also set for unlock include SUI, Algorand (ALGO), ApeCoin (APE), MANTA, and AGIX. Once unlocked, these tokens are free to be sold on the open market<\/span><\/p>\n<h2>How Will These Unlocks Impact Prices And Investors?<\/h2>\n<p><span style=\"font-weight: 400\">Crypto unlocks among altcoins are not a new phenomenon in the crypto industry, and they tend to have both positive and negative impacts on the price of such crypto assets. However, once those locked tokens are unlocked, they can enter the open market.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This means that a large supply of tokens may become available for trading simultaneously. If any of those newly unlocked tokens are sold right away, it can put downward pressure on the price as the supply overwhelms demand.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/analysis\/bnb\/bnb-drop-or-bounce-back\/\">Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High?<\/a><\/div>\n<p><span style=\"font-weight: 400\">At the time of writing, the crypto market is at somewhat of a standstill in terms of price volatility, although some cryptocurrencies like Chainlink (LINK) are currently on substantial gains in the past seven days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Chainlink also recently witnessed an unlock of 19 million LINK tokens worth $341 million. Following this, 16 million tokens were deposited into the crypto exchange Binance immediately, suggesting a sell-off.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/NbRqs2iL\/\" alt=\"Crypto total market cap chart from Tradingview.com (Altcoin unlcoks)\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">Total market cap at $1.6 trillion | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">Crypto Total Market Cap on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from Great Bridge Links, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>February is set to be a hot point for crypto assets, with several cryptocurrencies set to release over $800 million worth of assets during the month. According to data from TokenUnlocks, 26 crypto projects are set to carry out token unlocks in February, potentially flooding the crypto market with almost $1 billion worth of crypto assets. Most of this liquidity is set to come from Avalanche (AVAX), with approximately $345 million worth of AVAX set to hit the market in the middle of February. February 2024 Set To See Massive Crypto Unlocks Many major projects like Aptos (APT), The Sandbox (SAND), and Avalanche (AVAX) have unlocking events scheduled for February 2024. Avalanche, for instance, is set to unlock 9.54 million AVAX tokens, representing 2.6% of the total supply on February 22. This token unlock is set to be allocated in four batches, with 2.25 million AVAX tokens going to strategic partners, 1.67 million tokens to the foundation, 4.50 million tokens to the Avalanche team, and 1.13 million tokens as airdrops. Related Reading: Why This Crypto Report Suggests Solana As A Main Focus For The Next Bull Market Aptos (APT) will unlock 7.34% of its total supply on February 11 to the tune of 24.84 million APT tokens worth $228.55 million. In the same vein, metaverse platform The Sandbox will unlock $205.59 million SAND tokens, representing 9.19% of its circulating supply, on February 14. At the time of writing, these tokens are worth $90.46 million. Ethereum L2 blockchain Optimism is also set to unlock 24.16 million OP tokens worth $71.51 million on February 29. This represents 2.52% of its total supply. Other notable tokens also set for unlock include SUI, Algorand (ALGO), ApeCoin (APE), MANTA, and AGIX. Once unlocked, these tokens are free to be sold on the open market How Will These Unlocks Impact Prices And Investors? Crypto unlocks among altcoins are not a new phenomenon in the crypto industry, and they tend to have both positive and negative impacts on the price of such crypto assets. However, once those locked tokens are unlocked, they can enter the open market.\u00a0 This means that a large supply of tokens may become available for trading simultaneously. If any of those newly unlocked tokens are sold right away, it can put downward pressure on the price as the supply overwhelms demand. Related Reading: Will BNB Continue To Drop Or Bounce Back To Create A New All-Time High? At the time of writing, the crypto market is at somewhat of a standstill in terms of price volatility, although some cryptocurrencies like Chainlink (LINK) are currently on substantial gains in the past seven days.\u00a0 Chainlink also recently witnessed an unlock of 19 million LINK tokens worth $341 million. Following this, 16 million tokens were deposited into the crypto exchange Binance immediately, suggesting a sell-off. Total market cap at $1.6 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Great Bridge Links, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":573382,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[85876,83386,3],"tags":[134,138,91519,142,89606,6664,11163,91518,14690,89545,4728,91175,89090],"class_list":["post-573366","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","category-crypto","category-news","tag-altcoin","tag-altcoin-news","tag-altcoin-unlocks","tag-altcoins","tag-altcoins-news","tag-crypto","tag-crypto-assets","tag-crypto-assets-news","tag-crypto-news","tag-crypto-unlocks","tag-token","tag-token-news","tag-token-unlocks"],"acf":[],"yoast_head":"\n<title>Crypto Token Unlocks To Cross $700 Million In 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Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Token Unlocks To Cross $700 Million In February 2024, Here Are The Culprits","url":"http:\/\/uniquehot.com\/news\/crypto-token-unlocks-700-million\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/crypto-token-unlocks-700-million\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/Crypto-unlocks-altcoins.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/Crypto-unlocks-altcoins.png?fit=1344%2C896"},"articleSection":"Altcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","altcoin news","altcoin unlocks","altcoins","altcoins news","crypto","crypto assets","crypto assets news","crypto news","crypto unlocks","token","token news","token unlocks"],"dateCreated":"2024-02-05T11:00:35Z","datePublished":"2024-02-05T11:00:35Z","dateModified":"2024-06-11T08:31:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Token Unlocks To Cross $700 Million In February 2024, Here Are The Culprits\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-token-unlocks-700-million\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/crypto-token-unlocks-700-million\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Crypto-unlocks-altcoins.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/Crypto-unlocks-altcoins.png?fit=1344%2C896\"},\"articleSection\":\"Altcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"altcoin news\",\"altcoin unlocks\",\"altcoins\",\"altcoins news\",\"crypto\",\"crypto assets\",\"crypto assets news\",\"crypto news\",\"crypto unlocks\",\"token\",\"token news\",\"token unlocks\"],\"dateCreated\":\"2024-02-05T11:00:35Z\",\"datePublished\":\"2024-02-05T11:00:35Z\",\"dateModified\":\"2024-06-11T08:31:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/Crypto-unlocks-altcoins.png?fit=1344%2C896","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/573366"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=573366"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/573366\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/573382"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=573366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=573366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=573366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}