A selling pressure of nearly $1 billion will potentially flood the crypto market due to huge token unlocks. Notably, Optimism (OP), Avalanche (AVAX), The Sandbox (SAND), Aptos (APT), and Sui (SUI) are the projects with the highest unlocks.
Generally, when a new crypto project is launched, it has a vesting period, wherein its tokens remain frozen for a certain period. But after the token unlocks, the holders can finally sell or transfer their tokens.
Largest Token Unlock of February 2024: $344 Million AVAX Unlocks
According to data compiled by BeInCrypto, various crypto projects will unlock around $982.78 million worth of tokens. Amidst them, Avalanche’s token unlock is the highest one.
The screenshot below from Token Unlocks shows that on February 22, Avalanche will unlock 2.60% of its circulating supply. Based on the current market price, the 9.54 million AVAX tokens scheduled for unlock cost a whopping $344.17 million.
Read more: How To Buy Avalanche (AVAX) and Everything You Need To Know
Moreover, the allocation for unlocked AVAX tokens is as follows:
| Number of tokens | Value as per current price | Beneficiaries |
| 4.50 million | Go to Source to See Full Article Author: Harsh Notariya Did you like this?
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