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Crypto community braces for flood of tokens in January

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TL;DR

  • In January, 12 crypto projects will unleash tokens worth $488 million.
  • dYdX leads with $101 million in tokens on January 1.
  • The crypto market watches closely for impacts and opportunities.

The crypto market is gearing up for a significant influx of tokens in January, with 12 prominent cryptocurrency projects planning to unleash multi-million dollar coins. Notable tracking platforms like Token Unlock have corroborated this information, sparking discussions within the crypto community.

dYdX (DYDX) leads the way

The native token of the renowned decentralized exchange dYdX, DYDX, is set to take the spotlight as it prepares for its next token unlock scheduled for January 1, the first day of the new year. 

The dYdX team is expected to release 33.3 million tokens, constituting 12.36% of the circulating supply. These tokens are currently estimated to be worth approximately $101 million.

Investors in dYdX will receive a substantial share of this unlock, with roughly $60 million allocated to them. Meanwhile, founders, employees, advisors, and consultants will collectively receive over $31 million; an additional $14 million has been earmarked for future employees.

Sui (SUI) token release

On January 3, the Sui (SUI) token project will follow suit by releasing 34.62 million coins, valued at over $27.6 million. It’s worth noting that this project had recently released four million tokens worth over $3.2 million. 

The most recent release was directed to the community reserve, while the upcoming January 3 unlock is allocated to the community access program.

Galxe (GAL) on the horizon

Another project poised for a token unlock event in the first week of January is Galxe (GAL). On January 5, the Galxe team plans to release three million units of GAL, estimated at approximately $7 million. 

The distribution of these tokens is intended to serve various purposes, including marketing efforts, project team funding, and community support.

Aptos (APT) to make a splash

In what promises to be one of January’s most substantial token releases, Aptos (APT) is scheduled to unlock tokens valued at over $237 million on January 12. This significant event is expected to draw considerable attention from the crypto community and investors alike.

A packed schedule for January

Beyond these highlighted projects, several others have token unlock events scheduled throughout January. These include Optimism (OP), Acala (ACA), Liquidity (LQTY), Tornado Cash (TORN), GMT, APE, Axie Infinity (AXS), and Injective (INJ). Collectively, these projects are set to release tokens valued at over $488 million based on their current market values.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Ibrahim Abdulaziz

A fervent advocate, Ibrahim shares his wealth of knowledge on crypto and blockchain technology in an engaging and informative style. He frequents places where influencers gather for his next scoop. His vision is that the decentralized nature, security features, and potential for financial inclusion will drive widespread massive crypto adoption.

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