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Token Unlock

Notable Token Unlock Events Coming in November

Last Updated on March 19, 2024 by Ameer Hamza

The crypto market is preparing for a new round of token releases as November has begun. This month is expected to see significant releases worth over $10 million, including tokens like SUI, IMX, HFT, APT, APE, AVAX, OP, and more. These unlock events will change the dynamics of the market by releasing assets valued at about $400 million.

November’s Token Unlock: What to Expect

On November 3, SUI became the first token to be unlocked this month, according to the TokenUnlocks website. These recently unlocked tokens, which are valued at around $15.9 million (34.62 million SUI), are intended to be distributed to the Community Access Program.

On November 12, the layer 1 blockchain Aptos, created by former Meta executives, will undergo a major unlock, resulting in the release of 24.8 million APT tokens. The release is noteworthy since it will be distributed in part to investors, community members, core contributors, and the Aptos Foundation.

On November 17, ApeCoin (APE) will be unlocked, with a current market value of around $121.22 million. During this time, 15.60 million APE tokens will be unlocked.

AVAX, the native token of Avalanche and a member of the Layer-1 network is getting ready for a token unlock on November 24. There will be a release of 9.54 million AVAX tokens, which are currently worth around $9112.50 million.

On November 30, Optimism (OP), the final token to be unlocked this month, will be valued at about $34.31 million, with 24.16 million OP tokens available.

Understanding Token Lockup and Its Influence on the Crypto Market

A token lockup, also known as a vesting period, establishes a time frame that limits the trading or conversion of tokens into cash. The team’s plan will determine how long this lockup will last, and it may last for several years in certain situations. 

Token unlocking is a required activity for projects that have issued tokens; it is required for operations but has a substantial impact on token pricing when susceptible to inflation. 

Token unlocks have generally been regarded as bearish events since they indicate an increase in circulating supply. Newly issued digital assets enter the circulating supply, producing selling pressure and depreciating existing prices. As a basic rule of supply and demand, the more the supply, the lower the demand, resulting in lowering prices.

New incoming token releases will enable early investors, developers, and other holders to sell their holdings while prices stay high. Because the market is speculative, the price rises before the token is unlocked. 

Takeaways

As November approaches, the crypto market anticipates several massie token unlocks, with assets worth more than $10 million being released. Early investors and developers frequently profit from price increases before these unlocks, making it a vital part of the crypto ecosystem to monitor closely.

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