In November, altcoin projects will release $2.68 billion worth of coins that are locked. According to data provided by Tokenomist (formerly Token Unlocks), approximately $900 million of these tokens will be released at once (cliff). However, the remaining $1.7 billion will enter the market gradually. These expansions are provided by token vesting, a practice carried out by early investors or team members of the projects to prevent pressure on the markets by suddenly selling tokens. This method is also used as a security measure to prevent sudden drops in token prices.
Those altcoin projects will have massive unlocks in November
Among the most notable token expansions in November 2024 are the Memecoin, Aptos, Arbitrum, Avalanche and Optimism projects. These projects will attract attention with the release of large amounts of tokens that are locked. Memecoin plans to release 3.45 billion tokens in an airdrop to its community. The value of these tokens is calculated as approximately 37.8 million dollars. Moreover, it is reported that approximately 10 million MEME tokens will be gradually opened to project participants every day. The current price of the MEME token is around $0.010, which is 81 percent lower than its 2024 peak of $0.053. This indicates a serious decline in the price performance of the project.
Aptos, one of the layer-1 blockchain projects, will release an additional 11.31 million tokens, releasing approximately $93 million in assets. $32 million of this expansion will go to the project core team, and $26 million will go to the community. Additionally, $11 million will go to the foundation. Then, the remaining $23 million is allocated to investors. Altcoin APT is currently trading at around $8.24. However, it is 54% lower than its 2024 peak of $18.14. Avalanche, on the other hand, plans to release 1.67 million AVAX tokens for its foundation. The total value of these tokens is approximately 39 million dollars. Similarly, Optimism will open 31.4 million tokens for its investors and core contributors. The total value of these tokens is stated as 44 million dollars.
At Arbitrum, 90 million coins will enter the market
Ethereum’s Layer-2 solution, Arbitrum, will release 92.65 million tokens to its investors, team members and advisors. The market value of these tokens is approximately $45 million. Arbitrum released 1.1 billion altcoin projects on March 16. Thus, it achieved an initiative worth 2.32 billion dollars in total. However, according to analysts, after this opening, the price of the ARB token entered a downward trend. Because it is currently trading at approximately $0.48. This value is 79 percent below the peak price of $ 2.39, reached on January 12.
The impact of altcoin expansions on the market can be quite far-reaching. Especially the sudden release of large amounts of tokens may cause fluctuations in the price of assets. Investors should be careful during these periods, as these expansions may increase the selling pressure on the market and lead to sudden drops in token prices. Analysts state that the effects of expansions may vary depending on the project’s community, investors and market conditions. This news includes the altcoins that will unlock the largest amount in November. However, beyond these, it is worth noting that many altcoins will go through the same process.
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