Aptos, Avalanche, and Hashflow Champion $450M Token Unlocks This November
Aptos, Avalanche, and Hashflow gear up for a combined token release of over $320 million, with Aptos’ Layer 1 blockchain, founded by ex-Meta stalwarts, unlocking a standout $173 million.
Aptos Takes the Lead with November’s Largest Token Unlock
In a significant move this month, crypto projects Aptos, Avalanche, and Hashflow are gearing up for noteworthy token unlocks. These three projects collectively account for more than $320 million of the total $450 million set to be unlocked in November.
At the forefront of this token release is the Layer 1 blockchain Aptos. Notably founded by former Meta executives, Aptos has grabbed attention for its upcoming major token release.
As per data from TokenUnlocks, Aptos is set to release a whopping 24.8 million APT tokens on November 12th. This significant release represents 10% of its circulating supply and carries an estimated value of around $172.9 million.
A breakdown of the distribution showcases that a substantial portion, approximately $82.7 million, is earmarked for core contributors. Investors will receive tokens worth $58.6 million, while the community and the Aptos Foundation are set to get $22.3 million and $9.3 million respectively.
Previous Aptos Token Unlock Fuels Positive Price Momentum
Last month, Aptos experienced a more modest token release, with 4.5 million APT tokens, equivalent to $31.6 million, entering the market. Interestingly, this unlock seemed to buoy the token’s price.
Data from CoinGecko reveals that the APT price witnessed an approximate 2% uptick in the subsequent week, moving from $4.84 to $4.94. Fast-forward to the present, and APT stands at $6.93, marking a significant 43% surge since the last token release.
This optimistic price trajectory has persisted despite some challenges. Last month’s five-hour network outage could have been a stumbling block, but the current bullish market conditions appear to have underpinned APT’s resilience and growth.
Avalanche’s Upcoming Token Unlock
Avalanche, another leading Layer 1 blockchain, is gearing up for a significant token release this November. TokenUnlocks data indicates that come Nov. 24, there will be an influx of 9.5 million AVAX tokens. Valued at a staggering $106.9 million, this represents 2.7% of the circulating supply.
The breakdown of the distribution sees $50.4 million allocated for the project’s team, $25.2 million for strategic partners, $18.7 million dedicated to the Avalanche Foundation, and an earmarked $12.6 million, potentially for an airdrop. On top of this, there’s the daily release of 100,000 AVAX, roughly amounting to $1.1 million, designated for staking rewards.
Reflecting on past trends, the AVAX token experienced a 12.5% decline in the 30 days following the last Avalanche unlock on Aug. 26. This previous unlock also witnessed the release of an identical token amount.
From the $10.04 peak, AVAX dipped to $8.78. However, the current trading price of $11.15 paints a brighter picture, registering an 11% ascent since the last token release.
This uptrend aligns with a surge in transactions on the Avalanche blockchain, attributed largely to its competitor, Stars Arena, operating under FriendTech.
Hashflow’s November Release
Hashflow, a multi-chain decentralized exchange, is set for a notable November token unlock, releasing 160.4 million HFT tokens valued at approximately $41.3 million, which accounts for 73.9% of its circulating supply—the largest percentage release this month.
The distribution includes $16.1 million for early investors and significant portions for ecosystem development, the core team, and community rewards. After releasing 3.2 million HFT tokens in the previous month, the token’s price dipped 34% but has since rebounded, now trading at $0.26, a 19% decline from its past unlock.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at [email protected] if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. CreditInsightHubs is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.