Originally published on: November 03, 2024
In an exciting turn of events, November is gearing up to see the release of a staggering $2.68 billion worth of locked digital assets as vesting periods for various blockchain projects come to an end.
Tokenomist, the renowned vesting data tracker (formerly Token Unlocks), has reported that over $2.68 billion in crypto assets will be unlocked this month. Among these, more than $900 million in tokens will be released on a cliff basis, while approximately $1.7 billion will follow a linear unlocking schedule.
Some of the most anticipated token unlocks scheduled for November 2024 include projects like MemecoinMEME, AptosAPT, ArbitrumARB, AvalancheAVAX, and OptimismOP.
For those unfamiliar with the concept, crypto token vesting is a crucial practice in the digital asset space that aims to prevent early investors and project team members from flooding the market with tokens before a project has had a chance to mature. By staggering the release of tokens, it helps maintain market stability and prevents sudden price fluctuations that could negatively impact token values.
One project generating significant buzz is the meme-inspired cryptocurrency, Memecoin, which is set to unlock a whopping 3.45 billion coins valued at around $37.8 million. In addition to a cliff unlock, Memecoin will also introduce a linear token release for its contributors, equating to over 10 million MEME tokens daily, valued at approximately $117,000. Despite its potential, the current price of the MEME token stands at $0.010, marking an 81% drop from its 2024 peak of $0.053.
Similarly, the Layer-1 blockchain Aptos will see the release of 11.31 million tokens valued at $93 million. These tokens will be distributed among core contributors, the community, the foundation, and investors, with the APT token currently trading at around $8.24, down 54% from its 2024 high of $18.14.
Other notable unlocks include Avalanche unlocking 1.67 million AVAX tokens worth $39 million for its foundation, and Optimism releasing 31.4 million tokens valued at $44 million for investors and core contributors.
As for the Ethereum layer-2 network, Arbitrum is gearing up to unveil 92.65 million tokens valued at $45 million, allocated to its investors, team, and advisers. Following a massive token unlock earlier this year, ARB’s price has been on a downward trajectory, currently trading at around $0.48, reflecting a 79% drop from its all-time high of $2.39 on Jan. 12.
Exciting developments are on the horizon in the crypto space this November, as these unlock events promise to inject a significant amount of liquidity into the market. Stay tuned for more updates and insights on the latest trends shaping the digital asset landscape.
