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In February 2024, nearly 30 Web3 initiatives, previously restricted due to monetary policies or conditions for attracting investments, are anticipated to enter the crypto token market.
This month, tokens are set to be released, with their market value estimated at around $1 billion as of this writing. This process can be monitored through the Token Unlocks service.
The unlocking of crypto tokens refers to the transition of tokens from a locked state to an accessible one, in accordance with the stipulations outlined in the project documentation or related to funding acquisition. This procedure is also referred to as vesting or crypto vesting. During the unlocking phase, tokens are allocated to investors, project team members, or community participants based on the conditions of smart contracts and become available for trading or utilization.
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The prominent projects whose tokens will be unlocked in February include:
- Avalanche — 9.54 million AVAX (~$344.6 million), February 22;
- Aptos — 24.84 million APT (~$288.5 million), February 11;
- The Sandbox — 205.59 million SAND (~$90.5 million), February 14;
- Optimism — 24.16 million OP (~$71.5 million), February 29;
- ApeCoin — 50.6 million APE (~$21.8 million), February 17.
In total, approximately 30 token unlocks are anticipated in February, including 1INCH, DYDX, ALGO, MANTA, SUI, CYBER, AGIX, among others. The unlocking process may lead to a significant increase in the number of tokens available in circulation, which could adversely impact the market value of cryptocurrencies.
Token prices are also significantly affected by the news cycle and the informational activities of representatives from specific projects. Recently, the BNB Chain team outlined its objectives for 2024, detailing key strategic goals. In light of this, the asset halted its decline and experienced a growth of nearly 3% over a few days, as reported by CoinGecko.
Сообщение Tokens Worth About $1 Billion Unlocked in February появились сначала на CoinsPaid Media.
