TokenUnlocks, a digital asset aggregation platform, has identified 17 cryptocurrencies with scheduled token unlocks exceeding $10 million in April. As per the platform's data, these "large-value" unlocks will collectively surpass $1.38 billion. The unlocking process commences on April 1 and extends until April 30, with varying activity levels throughout the month.
Unlocking the Floodgates: $1.38 Billion Worth of Crypto Tokens Set to Hit the Market in April
As reported by TokenUnlocks, an industry-leading digital asset tracking platform, the crypto market is bracing for a massive influx of over $1.38 billion worth of unlocked tokens in April alone. A comprehensive analysis by the platform reveals that 17 cryptocurrencies are poised to witness significant token unlocks, each exceeding $10 million in value.
The unlocking schedule, which spans the entire month, will officially commence on April 1 and culminate on April 30. However, the daily distribution of unlocked tokens will vary, with certain dates hosting multiple events.
Notable among the unlocked tokens are DYDX, ZETA, SUI, GAL, APT, CYBER, and STRK, scheduled for release in the first half of April. Notably, Aptos blockchain's APT token will headline the unlocks with an astounding $409.89 million worth of tokens, equivalent to 6.25% of the total supply, set to be released on April 12.
In terms of supply ratio, DYDX takes the lead, with its 11.35% unlock representing $113.33 million worth of tokens. The decentralized exchange's native token will join ZETA in initiating the unlocking process on April 1.
The month-long event will conclude with PRIME, the official currency of Prime Worldwide, unlocking $36.23 million worth of tokens on April 30, representing 4.44% of its total supply.
The impending influx of unlocked tokens has sent shockwaves through the crypto community, raising concerns about potential price fluctuations and market volatility. Analysts anticipate that the sudden availability of large volumes of tokens could temporarily impact prices, creating both buying and selling opportunities for traders.
However, industry experts emphasize that the significance of token unlocks extends beyond short-term price movements. They argue that these events offer valuable insights into project performance, investor confidence, and the overall health of the crypto ecosystem.
