December Brings in Whopping $334 Million Worth of Token Unlocks – Aptos (APT), Optimism (OP), 1inch Lead Way

beincrypto.com 01 December 2023 14:20, UTC

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Nearly $334 million worth of tokens will be unlocked in December, with. Aptos, Optimism, and 1inch introducing a significant amount of new tokens.

December has begun, marking the start of the holiday season. However, token unlocks show no intention of taking a break, even during the last month of the year.

December Kicks Off With $34 Million 1Inch Token Unlock

According to TokenUnlocks, the decentralized exchange (DEX) aggregator 1inch is set to release tokens constituting approximately 9.48% of its total circulating supply. Within one hour of publication of the press release, a total of 98.74 million 1INCH tokens, with a value of $33.97 million, will be introduced into circulation.

The project’s team, investors, and venture capitalists (VCs) are the beneficiaries of this token unlock.

Read more: Crypto Hedge Funds: What Are They and How Do They Work?

1Inch Token Unlocks. Source: TokenUnlocks

Aptos ($APT) to Release $175 Million Worth of $APT Tokens

At least 25 projects have scheduled token unlocks in December. However, as of writing, the data shows that Aptos’ $175 million unlock is the highest compared to other projects’ token unlocks.

In addition to this, the project will unlock 24.84 million $APT tokens, which notably consist of 8.95% of the circulating supply, on the upcoming date of Dec. 12.

Lastly, the screenshot below shows that there are four beneficiaries of Aptos’ token unlocks:

1.33 million tokens worth $9.40 million for the Foundation.
11.88 million tokens worth $83.72 million for the core contributors.
8.42 million tokens worth $59.39 million for the investors.
3.21 million tokens worth $22.63 million for the Aptos community.

Aptos Token Unlock. Source: TokenUnlocks

Interestingly, Aptos’ previous unlock occurred on Nov. 12, during which the project released the exact same amount of tokens. The screenshot below shows that $APT is down by around 16% since Nov. 12.

$APT/USDT, Binance. Source: TradingView

Optimism (OP) Will Unlock 24.16 Million Tokens for Core Contributors And Investors

Last, but not least, Optimism will unlock 24.16 million tokens worth $41.31 million on Dec. 30. The 2.74% supply will be unlocked for core contributors and investors through the following allocation: