Here are the Projects That Will Unveil Tokens Worth Over $488 Million in January
The crypto community is abuzz with the weight of crypto tokens that will flood the market in January alone. A DeFi researcher with the username X recently brought public attention to 12 crypto projects planning to launch multi-million dollar coins during January. Data from major tracking platforms such as Token Unlock supported the information in the curated list.
The native token of the leading decentralized exchange dydx (DYDX) has taken a leading position as its next unlock is scheduled for tomorrow, i.e. on the first day of the new year. The dYdX team will release 33.3 million tokens, accounting for 12.36% of the circulating supply. Specifically, the market value of the assets to be released is estimated at approximately $101,000,000.
Specifically, dYdX investors will receive approximately $60 million, while founders, employees, advisors, and advisors will collectively receive over $31 million. Additionally, $14 million was allocated for future employees.
On January 3, the team behind the sui (SUI) token will release 34.62 million tokens worth over $27.6 million. Note that this project released four million tokens worth over $3.2 million yesterday. Meanwhile, yesterday’s release went to the community reserve, while the January 3 unlock was allocated to the community access program.
Another notable project scheduled for the unlock event in the first week of January is Galxe (GAL). The team plans to launch three million GALs on January 5, worth approximately $7 million. The distribution plans to allocate funds to marketing, the project team, and the community.
Similarly, the team behind aptos (APT) will be releasing more staggering dollar denomination coins by January 12. In particular, APT tokens worth over $237 million will enter the crypto market on the said date.
Some other projects with token unlock events planned in January include optimism (OP), Acala (ACA), Liquidity (LQTY), Tornado Cash (TORN), GMT, APE, axie infinity (AXS), and injective (INJ). At the time of this writing, the dollar total for tokens to be released in January exceeds $488,000,000 based on the market cap of each token.
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