cryptopolitan.com
According to data from TokenUnlocks, over $451 million worth of tokens are scheduled for release between October 8 and October 14, 2024, with Aptos (APT) leading the pack.
Aptos (APT) is poised to release the largest amount of tokens in terms of value. As per Token Unlocks, 11.31 million APT worth approximately $99.30 million is set to be unlocked.
This represents 2.25% of APT’s circulating supply. The unlock could potentially impact its price.
Optimism stands second with $21 million in unlock
Second on the list of cliff unlocks is Optimism (OP), with 12.47 million tokens valued at $21.08 million. TAIKO is third on the list with 12 million tokens worth $19.80 million.
Following suit, XAI has 35.88 million tokens valued at $7.23 million, and Cardano (ADA) has 18.53 million tokens worth $6.50 million.
These unlocks represent varying percentages of their respective circulating supplies. They range from 0.05% for ADA to a substantial 15.62% for TAIKO.
Solana leads linear token releases
In addition to cliff unlocks, several projects have scheduled linear token releases. Solana (SOL) leads this category with 524.03K tokens valued at $78.57 million. The amount represents 0.11% of its circulating supply.
Worldcoin (WLD) follows with 37.23 million tokens worth $74.45 million, accounting for 7.32% of its circulating supply. Other major linear unlocks include TAO, Avalanche (AVAX), and SEI.
Some of the smaller unlocks include Near Protocol (NEAR), Polkadot (DOT), Filecoin (FILE) and BEAM. These projects are unlocking tokens worth $15.2 million to $8.16 million.
It’s worth noting that while some projects are releasing a large percentage of their circulating supply, others like Cardano (ADA) and Dogecoin (DOGE) are unlocking relatively small portions of their total supply.
DOGE, for instance, is set to release 94.47 million tokens valued at $10.78 million. It is just 0.06% of its circulating supply. ADA is also just unlocking 0.05% of its supply.
The $451 million token unlocks scheduled for this week could potentially impact the market prices of the respective cryptocurrencies.