#DYdX #CryptoTokens #TokenUnlocks #Cryptocurrency #Optimism #1inchNetwork #Aptos #CryptoMarket
In the world of cryptocurrency, significant amounts of locked tokens are on the verge of making their way into the market, as projects like DYdX, Optimism, 1inch and Aptos gear up for the release of their vested digital assets. Based on the data collected by Token Unlocks, the total value of these tokens is projected to be over $750 million, which will be released by December. The largest chunk of this amount, almost $500 million, will come from the decentralized exchange dYdX. Their plan entails the unlocking of 150 million tokens, which had been vested for investors, founders and employees. As per the current market prices, these tokens possess enormous value.
The financial markets were initially expecting these tokens issued by dYdX to be released in February. However, in an official announcement made in January, the exchange reported the extension of the lock-up period. Consequently, the adjusted schedule now sees the tokens being unlocked on December 1, 2023, at 00:00 UTC, a significant deviation from their original release date. Following the initial unlock date in December, the company plans to unlock more tokens in the period between January 2024 and June 2024.
In addition to dYdX, the Ethereum layer-2 network known as Optimism is set to unlock 24 million Optimism (OP) tokens, valued at around $41 million, on November 30. Furthermore, the decentralized finance protocol 1inch Network intends to release approximately 98 million 1inch (1INCH) tokens on December 1. These tokens are currently valued around $33 million. Lastly, the proof-of-stake blockchain project Aptos is set to unlock nearly 25 million Aptos (APT) tokens, worth close to $180 million, on December 12. These releases represent a significant movement in the cryptocurrency market, and their impacts will be keenly observed.
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