Tokenomist revealed that $2.6 billion in new token supply is set for release in November. The data tracker specified that approximately $1.7 billion would be unlocked linearly while $900 million in tokens would be unlocked on a cliff basis.
According to data from Tokenomist, over $2 billion worth of tokens from projects such as Avalanche and Arbitrum will be unlocked in November. The data tracker revealed token unlocks would include linear and cliff releases.
Major crypto projects, including Arbitrum, to unlock in November
The upcoming token unlock highlights the end of the different projects’ vesting periods. The token calendar contains meme projects, Layer 1 and Layer 2 blockchains, and DeFi platforms.
Among the named blockchain projects set for token unlocks are Optimism, Avalanche, Arbitrum, Aptos, and Memecoin. The unlocks are speculated to negatively affect market prices due to the increased supply. However, the increased liquidity could also present new opportunities for investors.
🚨 November 24 Release: $2.6 Billion in New Token Supply 🚨
November’s set to be a turning point in crypto with $2.62 billion in new token supply about to enter the market
Here’s a quick look at the top releases we’re tracking :
• $SOL : $366 M
• $WLD : $278 M
• $CHEEL :… pic.twitter.com/fbSqZgNpFK— Tokenomist (prev. TokenUnlocks) ➡️ Devcon 🇹🇭 (@Tokenomist_ai) November 4, 2024
According to Tokenomist, Memecoin will release its tokens through both cliff and linear unlocks. The data indicated the project would unlock 3.45 billion of its tokens worth over $37.8 million this month.
The tokens will be allocated to reward users through an airdrop. The project is scheduled to release 10 million Memecoins daily after its initial release into the market. The additional tokens will be released through the linear method, while the initial launch will be through a cliff release.
According to CoinMarketCap, Memecoin is currently trading at $0.01043, and the increased supply would amount to an additional $117,000 in supply.
Aptos and Avalanche among tokens set for unlock
Layer 1 blockchain Aptos is also set to unlock 11.3 million tokens worth $93 million. According to the data tracker, $26 million worth of the tokens will be distributed to the community.
An additional $32 million will be distributed to the project’s core contributors, $23 million will be shared with investors, and $11 million worth of tokens will also be shared with the foundation.
According to CoinMarketCap, APT currently trades at $0.48, an over 70% decline from its all-time high in January.
The November token unlock calendar also revealed that Avalanche (AVAX) will release 1.67 million tokens worth $39 million. The Layer 1 blockchain will reportedly use the tokens to support its network growth and expansion.
Tokenomist also revealed that the Ethereum-based scaling solution Arbitrum would release approximately 92 million ARB in November. The digital assets are reportedly set for release to investors and advisors.
According to CoinMarketcap, Arbitrum has been on a downward trajectory since March. The token is currently trading at $0.48 after experiencing its all-time high of $2.39 in January.
Source: https://www.cryptopolitan.com/2-6-b-locked-tokens-to-unlock-in-november/