$900 Million in Vested Tokens will be Released in February

The upcoming release of approximately $900 million in vested tokens in February is anticipated in the digital asset market, led by projects such as Avalanche, Aptos, and The Sandbox.

Crypto vesting involves temporarily restricting digital assets within wallets, preventing holders from immediately accessing or transferring them. 

According to the Token Unlocks data, approximately $900 million worth of tokens are scheduled for release in February. Some of the tokens in this release include Avalanche (AVAX), Aptos (APT), The Sandbox (SAND), Optimism (OP), and Sui (SUI).

Among the project-releasing tokens, Avalanche, a proof-of-stake blockchain project, is set to unlock its largest token amount on February 22, releasing 9.5 million tokens valued at approximately $320 million as of the current writing. 

$900 Million in Vested Tokens will be Released in February

Image Source: Token Unlocks (Allocation & schedule of Avalanche token distribution)

Aptos, a blockchain platform at Layer-1, is set to launch 24.8 million cryptocurrency tokens on February 11, valued at approximately $233 million based on current market rates. 

Core contributors and investors are slated to receive tokens worth $180 million, while the community and foundation will be allocated an additional $39 million.

The allocation of these tokens includes distribution to the Avalanche Foundation, strategic partners, and team members, and through an airdrop, as noted by Token Unlocks.

The Sandbox is set to release approximately 209 million tokens valued at around $90 million, with over $40 million allotted to company reserves. 

On February 14, the remaining tokens will be unlocked for the team and advisers. Additionally, Optimism plans to release 24 million OP tokens worth about $70 million to its core contributors and investors on February 29. Simultaneously, Sui will unlock $53 million in tokens for its community access program.

According to tokenomics, a sudden surge in the circulating supply of a token may hurt cryptocurrency market prices.

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2024-02-02 15:02