Token Unlock: November Edition
SUI Token Unlock
Data suggests that there were substantial token unlocks exceeding $10 million in November. The first token to be unlocked this month is SUI on November 3rd. These newly unlocked tokens – 34.62 million SUI worth around $15.9 million – are allocated to the Community Access Program.
Aptos Token Unlock
The next big unlock is for Aptos on November 12th. During this unlock event, 24.8 million APT tokens will be released. Core contributors, investors, the community, and the Aptos Foundation will all receive portions of this release.
ApeCoin (APE) Token Unlock
ApeCoin (APE) is scheduled for November 17th. During this unlock, 15.60 million APE tokens worth around $121.22 million will be released.
AVAX Token Unlock
The native token of Avalanche, AVAX, is gearing up for a token unlock on November 24th. 9.54 million AVAX tokens valued at approximately $9112.50 million will be released.
Optimism (OP) Token Unlock
Optimism (OP) is the last token that will be unlocked this month, scheduled for November 30th. During this unlock, 24.16 million OP tokens worth approximately $34.31 million will be released.
Impact on Market
A token lockup, also known as a vesting period, is a specific duration during which tokens cannot be traded or converted into cash. The introduction of crypto tokens generally increases selling pressure on the assets, influenced by the quantity of unlocked tokens and their entry into cryptocurrency exchanges. However, with the market recovery, a massive drawdown is not expected.
### News source: cryptopotato.com