Aptos, Jito, Melania, Movement, and The Sandbox Brace for Key Token Unlocks This Month

Popular altcoins like Aptos, Jito, Melania, Movement, and The Sandbox are bracing for a key event this month when they unlock millions of tokens.

Several popular altcoins are preparing for a significant occurrence this month, as millions of tokens are set to be unlocked.

Among them, Aptos (APT), a prominent layer-1 blockchain, will witness the release of over 11.3 million tokens, valued at more than $92.2 million, on February 12.

This token unlock is part of a monthly schedule that will continue until October 2032. Currently, there are 574 million APT tokens in circulation, out of a total supply limit of 1.13 billion tokens.

Meanwhile, Jito (JTO), a Solana liquid staking network, is preparing to unlock 11.31 million tokens, valued at over $34 million, on February 7.

This unlock will be a crucial event as Jito has emerged as the second-most profitable network in the crypto industry after Tether, having generated over $303 million year-to-date in terms of net realized gains for validators.

Furthermore, Movement Labs is set to unlock 50 million MOVE tokens, valued at over $38.73 million, on February 9.

Movement is known for creating the Move programming language, which powers several blockchain networks, including Aptos, Sui, and Blockdaemon.

Other notable crypto token unlocks this month include Melania, which will unlock about 3% of the supply on February 20, and The Sandbox (SAND), which will unlock 205 million tokens, valued at over $110 million, on February 14.

The full schedule of token unlocks for the month is available here.

Typically, a token unlock event signifies the release of new crypto tokens into the market, increasing the supply and potentially leading to bearishness for a coin due to the increased selling pressure.

However, it's worth noting that such events can also be bullish, especially when the sentiment in the crypto industry is strong, and tokens often rally both ahead and after the unlock.