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$750M in locked crypto tokens to be released by December

November 27, 2023No Comments


Around $750 million in purchased digital assets are scheduled to be unlocked and released to the markets in December.

Among the projects releasing locked tokens, the dYdX decentralized exchange will unlock the largest amount. The exchange is expected to unlock 150 million tokens awarded to investors, founders, and employees in December. The tokens are worth almost $500 million at current market prices.

Initially, dYdX-issued tokens were supposed to launch in February. However, the exchange announced in January that the block would be extended. Instead of their original release date, the tokens will now be unlocked on December 1, 2023 at 12:00 am UTC. After the initial unlock date in December, the company to unlock more tokens between January 2024 and June 2024.

In addition to dYdX, other projects are also scheduled to release their token allocations very soon. According According to token data tracker Token Unlocks, the Optimism layer 2 Ethereum network is also scheduled to unlock 24 million Optimism (OP) tokens, worth around $41 million, on November 30.

In addition to dYdX and Optimism, decentralized finance protocol 1inch Network will launch around 98 million 1inch (1INCH) tokens on December 1. The tokens are worth around $33 million at the time of writing.

Related: dYdX Founder Blames v3 Core Components for 'Targeted Attack' and Involves FBI

Meanwhile, proof-of-stake blockchain project Aptos will also be one of the projects launching a significant amount of tokens in December. Token Unlocks data shows that on December 12, Aptos will unlock nearly 25 million Aptos (SUITABLE) tokens worth almost $180 million.

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