- Huge token unlocks are upcoming, starting with dYdX’s 150 million token, dated December 1, which is valued at $500 million.
- ImmutableX’s $48.35 million token release on the same day is expected to redefine its market position.
- Optimism’s November 30 unlock of $41 million worth of OP tokens signifies growing interest in Ethereum layer-2 solutions.
As December approaches, the crypto community is abuzz with upcoming token unlocks that promise to inject substantial liquidity into the market. Leading the pack is the decentralized exchange dYdX, with a scheduled unlock of 150 million tokens on December 1, constituting 30% of its allocated tokens. TOP 7 ICO, a crypto news and analytics platform on Twitter, shared a tweet indicating the huge Unlock. The tweet says investors, founders, and employees are poised for a windfall, as this event carries a staggering value of $500 million.
ImmutableX (IMX) is also in the spotlight, set to unlock tokens worth $48.35 million on the same day. This move could potentially redefine its market standing and garner increased attention from investors. Crypto market aggregator CryptoRank puts together the top 10 upcoming token unlocks in December in a tweet.
Optimism, an Ethereum layer-2 network, is not to be overlooked. On November 30, it will unlock 24 million OP tokens, valued at approximately $41 million. The significance of this event is underscored by the growing interest in layer-2 solutions within the Ethereum ecosystem.
SUI, with its scheduled unlock of 900k SUI tokens on November 28, 2023, worth $531k, adds another layer of complexity to the unfolding narrative. These tokens, designated as Stake Subsidies, will likely contribute to the broader strategy of the SUI project.
1inch Network is making waves as well, unlocking around 98 million 1INCH tokens on December 1, valued at about $33.87 million. This move is poised to be a significant development for the decentralized finance protocol, signaling potential shifts in the market.
To comprehend the magnitude of these unlocks, a breakdown is essential. According to TokenUnlocks data, dYdX’s unlock of 150 million tokens on December 1 takes center stage, creating ripples in the crypto space. The delayed release, initially scheduled for February, has kept the community on edge since the announcement on January 25.
Optimism follows closely, unlocking 32.21 million tokens worth $58 million on November 29, setting the stage for a consequential week. 1inch Network adds to the narrative with the release of 98.74 million tokens worth $34.5 million on December 1.
November witnessed a series of token releases worth over $398 million, with the first one being the $HFT token unlock on November 7, valued at around $43 million. These tokens will be distributed among early investors, ecosystem development, the core team, and community rewards, accounting for almost 74% of HashFlow’s circulating tokens.
