There are six token unlocks scheduled for January, Wu Blockchain reported based on data from Token Unlocks. The total amount of these transactions is equal to 169 million dollars. However, this week is significant for two altcoin projects in terms of un-locking.
Two altcoin projects will unlock this week!
As Cryptokoin.com reported, six altcoin projects will unlock between January 11 and January 27. The six altcoins in question are Moonbeam (GLMR), Aptos (APT), BitDAO (BIT), ApeCoin (APE), Axie Infinity (AXS), and Ronin (RON).
The first unlock will take place on the Moonbeam (GLMR) on January 11. The project will unlock 46,182,879.41 tokens, accounting for 4,618% of the total token supply. The USD equivalent of the tokens to be unlocked will be approximately $15 million. In the second unlock, 4,543,478.03 APT tokens will be released, which equates to approximately $16 million. The unlock is scheduled for January 12 and represents 0.454% of the total supply.
The amount of tokens Aptos (APT) will unlock will equal approximately 32% of the currently circulating supply. Also, the amount of GLMR Moonbeam will unlock is roughly 20% of the circulating supply. With APT set to launch this week, around 15% of Aptos’ total supply will be in circulation. In addition, approximately 73% of GLMR’s total supply will have entered circulation. Therefore, un-lock transactions will significantly affect the market supply of the respective tokens. According to experts, it is possible that this situation will create a dump pressure on the related tokens.
Meanwhile, at press time, APT is trading at $4.88, up 29% on a daily basis, according to CoinMarketCap data. The altcoin registered a vertical rise today as the market rallied. APT saw $5.35 in this move, but later declined slightly with profit selling.
APT daily price chart / Source: CoinMarketCapOther unlock events in January
The biggest unlock is scheduled for January 15, when 1.82% of the total BitDAO (BIT) supply will be unlocked and 187,5 million,02 tokens worth approximately $67 million will be released. On January 17, $28 million worth of APE tokens will be unlocked. The exact number is 7,343,750, equal to 0.734 percent of the total supply.
The second biggest unlock will come from AXS on January 23, when the project will issue 4,893,759 tokens worth $31 million. The amount accounts for 1,812% of the total token supply. Finally, on January 27, 41,932,626 RON tokens will be unlocked, which equates to the smallest amount of $12 million. The tokens represent 4.293% of the total RON supply.
