Token Unlocks, a digital asset intelligence platform, has released its token unlock schedule for April 2024, with 17 crypto projects set to unlock individual token tranches worth over $10 million. According to the data on the platform's website, the total "large-value" unlocks will exceed $1.38 billion.
Token Unlocks Reports 17 Upcoming Token Unlock Events, Surpassing $1.38 Billion in Value
In a significant development, Token Unlocks, a digital asset intelligence platform, has identified 17 cryptocurrencies scheduled to unlock substantial amounts of their native tokens, with an aggregate value exceeding $1.38 billion in April. The platform's data reveals a month-long series of "large-value" token unlocks, set to commence on April 1st and continue throughout the month until April 30th.
While not every day of the month will witness unlocking activity, certain days will feature multiple unlock events. As outlined by renowned crypto journalist Colin Wu, the 17 crypto tokens slated for "large-value" unlocks in April are DYDX, ZETA, SUI, GAL, APT, CYBER, and STRK, with their unlockings expected to occur during the first half of April. From April 16th to 30th, ARB, APE, AXS, IMX, PIXEL, ID, YGG, AGIX, OP, and PRIME will execute their token unlocking schedules.
Based on data from the Token Unlocks platform, APT is poised to record the highest token unlock by value. The Aptos blockchain project will unlock 24.84 million APT tokens, worth approximately $409.89 million, on April 12th, 2024. This substantial unlocking event will release 6.25% of the total APT supply into the crypto ecosystem.
While APT may boast the highest "large-value" unlock by value, DYDX takes the lead in terms of supply release percentage among the listed tokens. By unlocking 33.33 million DYDX tokens, valued at $113.33 million, the decentralized exchange (DEX)'s native token will unleash 11.35% of its total supply onto the crypto market. DYDX will initiate its token unlocking program in April alongside ZETA, the utility token powering ZetaChain.
Rounding off the "large-value" unlocks for April, PRIME, the native digital currency of Prime Worldwide, will conclude the month's unlocking spree on April 30th by unlocking 1.66 million tokens worth $36.23 million, representing 4.44% of its total supply.
This comprehensive overview of upcoming token unlocks provides valuable insights into the anticipated supply dynamics and potential market impact of these cryptocurrencies. As the month of April unfolds, the crypto community will be closely monitoring the progress of these token unlocking events, assessing their effects on prices, market sentiment, and the overall trajectory of the digital asset landscape.
