CAREFUL These Altcoins Are Facing MASSIVE Crypto Unlocks

Token unlocks are some of the biggest events in crypto. They can have massive impacts on the prices of tokens. And that’s why you need to know about upcoming ones.

Our research shows that token unlocks in November 2023 will amount to $450 million. SUI just had 34.62 million tokens unlock on the 3rd, which accounts for $15.88 million. We want to cover some of the most significant unlocks of the month from important altcoins. 

1) Hashflow (HFT)

Hasflow has one of the biggest unlocks we’ve ever seen. Hashflow is a decentralized exchange (DEX). It operates across multiple blockchains. So, Hashflow plans to release 160.4 million of its HFT tokens on November 7 valued at approximately $41.3 million. This constitutes about 74% of its circulating supply. Now that’s huge.

Here are the allocation plans:

  • Early investors: $15.39 million
  • Ecosystem development, $12.10 million
  • Core team: $11.89 million
  • Community rewards: $102.59k 

As fans of the project know, Hashflow releases $44,000 worth of HFT tokens daily for rewards for community members and ecosystem development.

Hashflow released 3.2 million HFT tokens worth $830,000 last month. The token price fell over 34% within two weeks before recovering. HFT is currently trading at $0.25. And is currently 19% down since its last token unlock.

So if you like the project, wait for the effect of this on the price first. This should add selling pressure and make the price go down. Then, look for an entry point to buy.

2) Aptos (APT)

Data from Token Unlocks shows that Aptos has the highest unlock for November 2023 in terms of value. The Layer 1 platform plans to release 24.8 million APT tokens on Nov. 12. November unlock is worth around $172.9  million and makes up 10% of its circulating supply.

  • Aptos allocates the bulk of these tokens about $82.7 million to core contributors. 
  • Then, around $58.6 million goes to investors.
  • Another $22.3 million is reserved for the community.
  • Finally, about $9.3 million goes to the Aptos Foundation.

Aptos had a smaller release in October of 4.5 million APT tokens. It was valued at $31.6 million. Interestingly, the price of APT surged by almost 2% from $4.84 to $4.94 over the next seven days. APT currently trades at $6.55. And is up 43% since its October unlock. With such a high % going to early investors and insiders, it will be interesting to see if they sell or hold.

This is quite an impressive figure. Because Aptos had a five-hour network outage in November. And we are still in the bear market. Or at least an unconfirmed bull market. So, that counts for the team.

3) Avalanche (AVAX)

Avalanche has a heavy unlock scheduled for November. The Layer 1 blockchain will release 9.5 million AVAX tokens on Nov. 24. And this is valued at around $112.59 million and 2.7% of its circulating supply. 

  • About $53.10 million will go to the Avalanche team.
  • Another $26.55 million goes to strategic partners, 
  • About $19.67 million will go to the Avalanche Foundation
  •  About $13.28 million was set aside for a possible airdrop. 

Note that Avalanche releases 100,000 AVAX tokens ($1.1 million) daily for staking rewards. So you can see on this one, big by dollars but low in terms of effect on supply. But they may sell anyway. The last Avalanche unlock was on August 26. And the AVAX price didn’t respond too positively to that. The AVAX token fell 12.5% from $10.04 to $8.78 within 30 days.

AVAX currently trades at $12.43. This signifies an 11% growth since the August token unlock. Other notable unlocks include Rose, and Optimism.

Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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