Token

2024

Aptos

<h4>February will be explosive in the crypto space as over 20 projects are unlocking tokens with a combined value of over $800 million. </h4> 
This is more than we saw last month.&nbsp;Among the heavyweights for February are popular chains in DEX,&nbsp;general Purpose Layer 1s, and Metaverse. In this article, we’ll look at these crypto unlocks, and their allocations and analyze if these will trigger a potential price drop. 
<h5>1) DYDX</h5> 
The month kicks off with a heavy unlock from the decentralized exchange DYDX. The exchange plans to <a href="https://token.unlocks.app/dydx" target="_blank" rel="noopener">release</a> 33,33M tokens worth over $94 million on February 1. This also accounts for 10.63% of its circulating supply.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4e2.png" alt="📢" class="wp-smiley" style="height: 1em; max-height: 1em;">Token Unlock Update<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4e2.png" alt="📢" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 dYdX Trading Inc., dYdX Foundation and certain parties to the Warrants to Purchase Tokens signed an amendment to, among other things, postpone the initial release date applicable to investor <a href="https://twitter.com/search?q=%24DYDX&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DYDX</a> tokens to Dec 1, 2023 
 Blog: <a href="https://t.co/froqUPL3ay">https://t.co/froqUPL3ay</a> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447-1f3fb.png" alt="👇🏻" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 — dYdX Foundation <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f994.png" alt="🦔" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@dydxfoundation) <a href="https://twitter.com/dydxfoundation/status/1618302395603161114?ref_src=twsrc%5Etfw">January 25, 2023</a>
</blockquote> 
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That’s TODAY. So make a plan if you need to. The unlocked tokens will be allocated to three groups:&nbsp; 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Investors: 18.49 million tokens ($53 million)</li> 
 <li style="font-weight: 400;" aria-level="1">Project Team, Advisors, Consultants: 10.18 million dYdX tokens ($29.22 million)</li> 
 <li style="font-weight: 400;" aria-level="1">Future Employees: 4.67 million tokens ($13.39 million)</li> 
</ul> 
The coming February unlock comes behind DYDX’s last unlock on January 23. The decentralized exchange also released $500 million in tokens in December, causing a mild price drop. Unlock data shows that DYDX has four other large unlocks for this year.&nbsp; Token unlocks often inspire a price drop and the coming DYDX unlock might not be any different.&nbsp; 
Interestingly <a href="https://www.coingecko.com/en/coins/dydx-ethdydx" target="_blank" rel="noopener">DYDX</a> has seen some increase in recent days. And that’s because of some updates within the system.&nbsp;DYDX recently introduced the dYdX Chain protocol v3.0 upgrade. This upgrade offers a liquid staking feature. This has caused several liquid staking protocols to move to DYDX.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 1/6 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f389.png" alt="🎉" class="wp-smiley" style="height: 1em; max-height: 1em;"> The dYdX Chain Protocol v3.0 Upgrade has been successfully implemented at block height 7147832. 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1faf6.png" alt="🫶" class="wp-smiley" style="height: 1em; max-height: 1em;">Thanks to everyone who voted and contributed! 
 What does the upgrade change? Keep reading <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447.png" alt="👇" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/0PidV3jC8f">pic.twitter.com/0PidV3jC8f</a> 
 — dYdX Ops subDAO (@dydx_ops_subdao) <a href="https://twitter.com/dydx_ops_subdao/status/1752031880822550699?ref_src=twsrc%5Etfw">January 29, 2024</a>
</blockquote> 
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<h5>2) Aptos (APT)</h5> 
Aptos has one of the <a href="https://token.unlocks.app/aptos" target="_blank" rel="noopener">biggest unlocks</a> for February. The layer-1 blockchain will unlock 24.48 million APT tokens on February 11. This is worth about $218.16 million and accounts for 7.36% of its circulating supply.&nbsp;There are four allocations to this coming unlock: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The foundation will receive 1.33m APT tokens ($11.75m)</li> 
 <li style="font-weight: 400;" aria-level="1">The community will receive 3.21m APT tokens valued at $28.28m</li> 
 <li style="font-weight: 400;" aria-level="1">Core contributors 11.88m APT tokens valued at&nbsp; $104.62m</li> 
 <li style="font-weight: 400;" aria-level="1">Investors will receive 8.42m APT tokens valued at $74.21m.</li> 
</ul> 
Aptos unlocked 24.8 million APT tokens ($249.67 million) on January 12. which was pretty massive. We’ve found that token unlocks often have a mild effect on the <a href="https://www.coingecko.com/en/coins/aptos" target="_blank" rel="noopener">APT price</a>.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> Top 15 TokenUnlocks in FEB 24 worth $1.012 billion <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Subscribe to our UnlocksInsights to read more about unlocks and in-depth analysis, and much more <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f447-1f3fb.png" alt="👇🏻" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/qxO0xySSIp">https://t.co/qxO0xySSIp</a> <a href="https://t.co/y695FiK2L9">pic.twitter.com/y695FiK2L9</a> 
 — Token Unlocks (@Token_Unlocks) <a href="https://twitter.com/Token_Unlocks/status/1752627691537522781?ref_src=twsrc%5Etfw">January 31, 2024</a>
</blockquote> 
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We expect a similar effect this time. However, any negative price reaction is often temporary based on our observation. 
<h5>3) Sandbox (SAND)</h5> 
Sandbox fans gather around. There’s going to be a <a href="https://token.unlocks.app/the-sandbox" target="_blank" rel="noopener">massive unlock</a> on the 14th of February. The Sandbox plans to unlock 205.59 million tokens. This accounts for 9.19% of the circulating supply. And is worth around $93 million. Here’s how the Metaverse platform scheduled the allocation:&nbsp; 
<ul> 
 <li style="font-weight: 400;" aria-level="1">The team will receive 71.25m SAND tokens which make up 3.18% of its circulating&nbsp; Supply. And is worth around $32.02m.</li> 
 <li style="font-weight: 400;" aria-level="1">The next allocation is reserved for advisors. Advisors will receive an allocation of 37.50m <a href="https://www.coingecko.com/en/coins/the-sandbox" target="_blank" rel="noopener">SAND tokens</a>, valued at $16.85m.</li> 
 <li style="font-weight: 400;" aria-level="1">The company reserve is the last on the allocation list. The reserve will receive an allocation of 96.84m SAND tokens, valued at $43.53m.</li> 
</ul> 
The last SAND unlock came on August 14, 2023. At the time, the metaverse project released a staggering 332 million. SAND tokens. This unlock made up 16% of its circulating supply. And were worth around $133 million at the time of the unlock. 
There’s a possibility that the coming unlock could cause a mild reaction. But that’s not a certainty. SAND is currently 1.8% up over the past 24 hours.&nbsp;The team has also focused on several top partnerships over the past few months. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Get ready for a massive unlock in the second month of 2024, featuring a total of $2,288 million in February <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Read now to find out about the upcoming unlocks for February and up to the next two quarters! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4c5.png" alt="📅" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 Is your watchlist token on here? Find out now:<a href="https://t.co/qxO0xySSIp">https://t.co/qxO0xySSIp</a> 
 — Token Unlocks (@Token_Unlocks) <a href="https://twitter.com/Token_Unlocks/status/1751953420125438020?ref_src=twsrc%5Etfw">January 29, 2024</a>
</blockquote> 
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<h5>4) Avalanche (AVAX)</h5> 
There are other unlocks reserved for February. Avalanche is one of the <a href="https://token.unlocks.app/avalanche-2" target="_blank" rel="noopener">notable mentions</a>. The team plans to unlock 9.54 million tokens on February 22. This accounts for 2.6% of the circulating supply. And is worth around $315 million.&nbsp;Here’s the allocation schedule: 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Strategic Partners: 2.25m AVAX tokens worth $77.96m.</li> 
 <li style="font-weight: 400;" aria-level="1">Foundation: 1.67m AVAX tokens worth $57.75m.</li> 
 <li style="font-weight: 400;" aria-level="1">Team: 4.50m AVAX tokens, worth $155.93m.</li> 
 <li style="font-weight: 400;" aria-level="1">Airdrop: 1.13m AVAX tokens, valued at $38.98m.&nbsp;</li> 
</ul> 
That’s it for this month. Which of these events are you looking forward to the most? 
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The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/huge-crypto-unlocks-ahead-for-4-major-altcoins/">Huge Crypto Unlocks Ahead for 4 Major Altcoins</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.

Huge Crypto Unlocks Ahead for 4 Major Altcoins

Altcoin Buzz

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