17 Crypto Projects to Release Over $1.38B in Unlocked Assets in April 2024

A token unlock event is scheduled for April 2024, involving 17 projects with a combined unlock value of over $1.38 billion. Among these projects, Aptos will have the highest unlock value of $409.89 million, while DYDX will release 11.35% of its total supply. The token unlock schedule includes large-value unlocks exceeding $10 million for projects such as DYDX, ZETA, SUI, GAL, APT, CYBER, STRK, ARB, APE, AXS, IMX, PIXEL, ID, YGG, AGIX, OP, and PRIME.

17 Projects Prepare to Unleash $1.38 Billion in Unlocked Crypto Assets in April 2024

An analysis conducted by TokenUnlocks, a comprehensive digital asset aggregation platform, has revealed that 17 cryptocurrency projects are poised to release unlocked tokens with an aggregate value exceeding $1.38 billion in April 2024. This significant token unlocking event is expected to have a substantial impact on the cryptocurrency market.

Aptos Leads the Token Unlock Charge

Among the projects scheduled to unlock tokens in April, Aptos (APT) stands out with the highest projected release. On April 12th, the Aptos blockchain project intends to unlock 24.84 million APT tokens, worth an estimated $409.89 million. This release represents a sizable 6.25% of APT's total supply in circulation.

DYDX Tops Supply Release Ratio

While Aptos may dominate in terms of sheer value unlocked, decentralized exchange (DEX) native token DYDX is set to release a substantial portion of its total supply. On April 1st, DYDX plans to unlock 33.33 million tokens, valued at $113.33 million, which constitutes an impressive 11.35% of its total supply.

Token Unlock Schedule

The token unlock schedule provided by TokenUnlocks indicates that the unlocking process will commence on April 1st and continue throughout the month until April 30th. However, it is noteworthy that not every day within this period will witness unlocking activity, and some days may feature multiple unlocks.

The initial phase of token unlocks, spanning April 1st to 15th, will see the release of tokens from DYDX, ZETA (ZetaChain's utility token), SUI, GAL, APT, CYBER, and STRK. Subsequently, from April 16th to 30th, the unlocking process will involve ARB, APE, AXS, IMX, PIXEL, ID, YGG, AGIX, OP, and PRIME.

Conclusion

The upcoming token unlocks in April 2024 are poised to have a significant impact on the cryptocurrency market. The release of these tokens could potentially increase circulating supply and trigger price fluctuations. Investors and market participants are advised to monitor these events closely and adjust their strategies accordingly.