The cryptocurrency community is on high alert as Token Unlocks announces a November slate of token releases worth over $398 million. According to the data, the sequence kicks off with the unlock of $HFT tokens on November 7, worth approximately $43 million. These tokens spread across early investors, ecosystem development, the core team, and community rewards accounted for nearly 74% of HashFlow’s circulating tokens.
November Unlocks Alert 🚨
— Token Unlocks (@Token_Unlocks) November 9, 2023
Top 5 Cliff Unlocks worth $398M+
(12 NOV) : $APT – $175M 🌟
(24 NOV) : $AVAX – $121M 🌟
(07 NOV) : $HFT – $43M
(30 NOV) : $OP – $36M
(17 NOV) : $APE – $23M
Don't miss any unlock event by adding these tokens to your watchlist
on https://t.co/vprsnTpJBZ pic.twitter.com/CTsCm6rGZ2
Following HFT, Aptos (APT) is set to release $175 million worth of tokens on November 12, a substantial release likely to involve core team members, investors, and the Aptos Foundation. This unlock event is particularly noteworthy as it comprises a project helmed by ex-Meta executives, spotlighting the bridge between major tech entities and blockchain initiatives.
The unlock train continues with ApeCoin’s (APE) scheduled release on November 17, where the market will see an injection of $23 million in APE tokens. This event precedes Avalanche’s (AVAX) November 24 unlock, which promises over $121 million in token liquidity.
With AVAX being a dominant player in the Layer-1 blockchain space, the anticipation around this event is exceptionally high. Wrapping up the month, Optimism (OP) looks forward to its token unlock on November 30, releasing tokens valued at around $36 million.
Token unlocks, designed as a strategic move to regulate the availability and flow of cryptocurrency in the market, typically increase selling pressure. This effect is driven by the volume of tokens entering the market and the ease of their availability for trading on exchanges.
Market analysts often predict a price dip following such events due to the sudden surge in supply. However, the fear of a massive drawdown is not as pronounced with the market’s current upward trend. As the month progresses, the community remains watchful, gearing up for potential market shifts with large-scale token releases.
