Crypto coins worth $750 million will be unlocked by December
According to data tracker Token Unlocks, DYdX, Optimism, 1inch, and Aptos are projected to release more than $750 million worth of restricted tokens before the end of the year.
In December, the markets are expected to receive around $750 million worth of vested digital assets. The decentralized exchange dYdX will unlock the most tokens out of all the projects releasing locked tokens. Investors, founders, and workers may anticipate the exchange releasing 150 million vested tokens in December. At their present value, the tokens are about $500 million.
It was first planned that dYdX’s tokens would be released in February. But the exchange did announce an extension of the lock-up in January. The tokens will now be released on December 1, 2023, at 12:00 am UTC, rather than their intended release date. From January 2024 through June 2024, the corporation will release additional tokens after the original December unlock date.
Not only is dYdX planning to announce its token allocations shortly, but so are a number of other projects. Optimism, an Ethereum layer-2 network, is also set to unlock 24,000,000 OP tokens, with a value of around $41,000,000, on November 30th, as reported by token data tracker Token Unlocks.
On December 1, decentralized financial system 1inch Network, together with dYdX and Optimism, will distribute around 98 million 1inch (1INCH) coins.
Additionally, December will see the release of a large number of tokens from many projects, including the proof-of-stake blockchain project Aptos. Based on the statistics from Token Unlocks, Aptos is set to release over 25 million Aptos tokens, valued at nearly $180 million, on December 12th.