Over $870 Million Worth of Tokens to Be Unlocked in February

The crypto market is preparing for another wave of significant token unlocks in February, with over $870 million worth of tokens set to enter circulation, according to TokenUnlocks. These include SUI, APT, SAND, APE, MANTA, AVAX, and OP, which are among the most anticipated projects in the crypto space.

A token unlock, also known as a vesting period, is a specific duration during which tokens cannot be traded or liquidated. The length of this period depends on the team’s strategy and can last several years in some cases. Token unlocks usually increase the selling pressure on the assets, as more tokens become available for trading.

SUI is the native token of Sui, a decentralized layer 1 blockchain that uses a specific type of proof-of-stake consensus named delegated proof-of-stake. Sui will unlock 34.62 million SUI tokens worth around $49.5 million on February 3rd, allocated to the Community Access Program. SUI price is currently $1.48, up 66% in the past month.

APT is the token of Aptos, a layer 1 blockchain developed by former Meta executives. Aptos aims to provide a scalable, interoperable, and user-friendly platform for Web3 applications. Aptos will release 24.8 million APT tokens worth about $224.6 million on February 12th. The unlock will distribute tokens to the Foundation, the community, core contributors, and investors. APT price is currently $9.06, down 12% in the past month.

SAND is the token of The Sandbox, a virtual world where users can create, own, and monetize their gaming experiences. The Sandbox will unlock 92.87 million SAND tokens valued at around $41.9 million on February 17th. SAND price is currently $0.434, down 28% in the past month.

Source: Wu Blockchain

APE is the token of ApeCoin, an ERC-20 governance and utility token used within the APE ecosystem to empower a decentralized community building at the forefront of web3. ApeCoin will unlock 15.6 million APE tokens worth about $22.3 million on February 17th5. APE price is currently $1.42, down 17% in the past month.

MANTA is the token of Manta Network, a privacy-preserving protocol for decentralized exchanges. Manta Network will unlock 12.5 million MANTA tokens worth about $25 million on February 18th. MANTA price is currently $3.

AVAX is the token of Avalanche, a fast, scalable, and interoperable platform for decentralized applications. Avalanche will unlock 9.54 million AVAX tokens worth about $110 million on February 24th. AVAX price is currently $33.3, down 22% in the past month.

OP is the token of Optimism, a layer 2 scaling solution for Ethereum that leverages optimistic rollups. Optimism will unlock 24.16 million OP tokens worth about $87.8 million on February 30th. OP price is currently $2.91, down 26% in the past month.

Other popular tokens with over a million dollars worth of unlocks in February include GAL, ID, YGG, and AGIX, among others. These tokens are also expected to face increased volatility and downward pressure as more tokens enter the market.

Token unlocks are a double-edged sword for the crypto market. On one hand, they can indicate the maturity and progress of a project, as well as reward the early supporters and contributors. On the other hand, they can also trigger sell-offs and price corrections, as more tokens become available for trading. Investors and traders should be aware of the upcoming token unlocks and their potential impact on the market.

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