The altcoin market’s key openings in November caused concern among investors.
In November, $2.68 billion worth of locked digital assets will be released as the vesting periods of blockchain-based projects expire. According to data from Tokenomist (formerly Token Unlocks), $2.68 billion worth of cryptocurrencies will be unlocked in November.
While more than $900 million of this amount will be unlocked as a one-time “cliff unlock”, approximately $1.7 billion worth of tokens will be released gradually. The most notable unlocks in November 2024 belong to the MEME, APT, ARB, AVAX and OP projects.
Which altcoins will be unlocked?
The Memecoin project is preparing to release 3.45 billion tokens via airdrop. These tokens are worth approximately $37.8 million. Apart from the cliff unlock, there will also be gradual token release for contributors. More than 10 million MEMEs will be released daily during this process, and these tokens will be worth approximately $117,000. The price of the MEME token is currently around $0.010, which is 81 percent below its 2024 high of $0.053.
Layer-1 blockchain network Aptos will release another 11.31 million tokens, which will be worth $93 million. Of this amount, $32 million will go to the main contributors of the project, $26 million to the community, $11 million to the foundation and $23 million to investors. APT is currently trading at around $8.24.
Avalanche will also unlock 1.67 million AVAX for its foundation, these tokens will be worth $39 million. Optimism, on the other hand, will release 31.4 million tokens, which will be worth approximately $44 million.
The most notable name on the list was Arbitrum (ARB).
Ethereum’s layer-2 network Arbitrum will release 92.65 million tokens, and these tokens will be worth approximately $45 million. The popular altcoin had unlocked $1.1 billion worth of tokens on March 16.
After this major unlock, the price of ARB entered a downward trend. The token is currently trading at around $0.48, which is 79 percent below its all-time high of $2.39 on January 12.
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