$900M in Vested Tokens from Avalanche, Aptos and The Sandbox Set for Release in February
Summary:
In February, almost $900 million in vested tokens from projects such as Avalanche, Aptos, and The Sandbox are set to be released, which could influence the digital asset market dynamics. Crypto vesting locks down digital assets for a specified time to prevent early profit-taking by investors and encourage long-term dedication. Notably, Avalanche will unlock the largest number, around $320 million worth. Meanwhile, Aptos and The Sandbox will release tokens worth approximatedly $233 million and $90 million respectively. The unlocks may lead to price volatility due to increased supply.
The upcoming month will see the liberation of almost $900 million worth of tokens from projects including Avalanche, Aptos and The Sandbox, sparking anticipation in the digital asset sector. Crypto vesting constitutes a method of securing digital tokens for a prearranged period prior to them becoming fully accessible and transferrable by the owners. It prevents early investors from rapidly offloading these tokens for financial gain and premature departure from the enterprise, and instead motivates lasting commitment to the project. Data from Token Unlocks reveals that tokens to the value of approximately $900 million are scheduled for release in February. Among them are tokens from Avalanche (AVAX), Aptos (APTOS), The Sandbox (SAND), Optimism (OP), and Sui (SUI). Avalanche will be unlocking the most substantial number of tokens of all these platforms. On February 22, it is anticipated that this proof-of-stake blockchain project will disperse 9.5 million tokens, currently worth about $320 million. This is based on the information offered by Token Unlocks, who adds that these tokens have been designated for the Avalanche Foundation, strategic project partners, team members, and airdrops. The Avalanche token distribution routine and assignment are given by Token Unlocks. The Layer 1 blockchain Aptos is planning to set free 24.8 million tokens on February 11, which equate to around $233 million at present market rates. From this, approximately $180 million in tokens have been apportioned to its key contributors and investors, with an additional $39 million in tokens committed to its community and foundation. Notably, the Metaverse project The Sandbox plans to free 209 million tokens, valued at nearly $90 million. Over half these tokens are allocated to company reserves, and the remainder will be available to its team and advisors from February 14. Optimism is then due to release 24 million OP tokens, equivalent to approximately $70 million, to its core contributors and investors on February 29. Lastly, Sui is set to release $53 million worth of tokens to its community access program. There is a risk of extreme price volatility given that token unlocks can raise the circulation supply of a particular token. ChainArgos' Magazine delves into the mystery surrounding the striking absence of Polygon's MATIC.
Published At
2/2/2024 11:59:07 AM
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