- Over $215.03 million tokens are set to enter the crypto market next week.
- DYDX will distribute $92 million to investors, founders, employees, and advisors.
- Other projects to unlock multi-million dollars include OP, NYM, SUI, ACA, EUL, and TORN.
Token Unlock, a premier tracker of locked tokens, has unveiled the specifics of forthcoming unlocks across several crypto projects slated for January 29 and February 4. This disclosure sheds light on the significant value of tokens, totaling over $215.03 million, poised to enter the crypto market within the next seven days.
At the forefront is the token of the renowned decentralized exchange, dYdX (DYDX). According to market data, the dYdX team is set to release 33.3 million DYDX tokens on February 1. This figure amounts to a market value of $92.67 million at press time, considering DYDX’s value. Significantly, these 33.3 million tokens constitute 10.63% of its circulating supply.
Additionally, Token Unlock furnished a detailed breakdown of the recipients of the impending unlock event. In particular, dYdX investors are poised to receive $51 million, while founders, employees, advisors, and consultants are set to acquire $28 million. Moreover, $13 million has been earmarked for future employees.
Potential distribution of DYDX tokens set to be unlocked: Token Unlock
Optimism (OP) followed dYdX closely, with an unlock event scheduled for the last week of January. The OP team intends to release 24.16 million units of OP on January 30, with a market value of $75 million. Regarding distribution, $39 million has been designated for core contributors, while 35 million units are allocated to investors.
Additional projects with a token unlock scheduled for the last days of January include NYM ($9.48 million), SUI ($45.56 million), and Acala (ACA, $2.11 million). Meanwhile, Euler (EUL, $0.38 million) and Tornado Cash (TORN, $150k) plan to unlock tokens on February 1. So far, EUL and TORN have unlocked 81.19% and 78.92% of their tokens, respectively.
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