$750 Million in Crypto Tokens Set for Release by December
Get ready for the release of $750 million in vested digital assets in December, with dYdX leading the way by releasing 150 million tokens to investors, founders, and employees.
In December, the cryptocurrency market is set to witness the release of approximately $750 million in vested digital assets.
The decentralized exchange dYdX is at the forefront, with plans to release 150 million tokens, primarily allocated to investors, founders, and employees. These tokens, valued at nearly $500 million in the current market, represent the largest single release. Originally scheduled for February, dYdX postponed the release to December 1, 2023, at 12:00 am UTC, with further releases planned from January to June 2024.
Other significant projects are also preparing to release their tokens. Token Unlocks, a token data tracking service, reports that the Ethereum layer-2 network Optimism is set to unlock 24 million Optimism (OP) tokens, valued at around $41 million, on November 30.
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dYdX Trading Inc., dYdX Foundation and certain parties to the Warrants to Purchase Tokens signed an amendment to, among other things, postpone the initial release date applicable to investor $DYDX tokens to Dec 1, 2023
Blog: https://t.co/froqUPL3ay
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Additionally, the decentralized finance protocol 1inch Network is expected to release approximately 98 million 1inch (1INCH) tokens on December 1, currently valued at about $33 million.
Another notable project, the proof-of-stake blockchain Aptos, is scheduled to release a substantial number of tokens in December. According to Token Unlocks, Aptos will unlock nearly 25 million Aptos (APT) tokens, worth close to $180 million, on December 12.
