The cryptocurrency market is expected to see a massive influx of assets in April, with over $1.7 billion worth of tokens set to be released. Notable among these are Aptos, Axie Infinity, Arbitrum, and Ronin tokens.
Token unlocking is gaining traction as a strategy to gradually introduce locked assets to the market over a predefined period of time. Proponents argue that this method aligns incentives between project investors and stakeholders. However, it often leads to short-term volatility and price declines.
Top Tokens Unlocked in April
CryptoRank, a leading cryptocurrency research and analysis platform, has identified the top 10 token unlocking events for April. Their cumulative value is over $1.7 billion, of which approximately $250 million worth of assets are expected to be released within the first week of next month.
Layer 1 network Aptos is leading the way with a planned release of 24.84 million tokens worth approximately $418.75 million on April 12th. Meanwhile, Axie Infinity, a play-to-earn gaming platform, is set to announce an estimated 14.8 million of his AXS tokens. Approximately $167.4 million as of April 17th.
Arbitrum, Ethereum’s premier layer 2 network, is also planning a token unlocking event in April. Following the mass release of over 1 billion ARB tokens in March, which was particularly impactful on market trends, the company plans to unlock another 92.63 million tokens (valued at over $152 million) on April 16th.
Read more: 7 must-have cryptocurrencies in your portfolio before the next bull market
Similarly, Ronin Bridge will release 36.81 million tokens worth $151.66 million. Layer 2 network StarkNet will also deploy 63.99 million tokens worth $139 million. Meanwhile, Sui will also release approximately 65 million tokens worth $127 million. Decentralized exchange dYdX unlocks 33.3 million tokens worth approximately $116.7 million.
Additionally, the Uniswap protocol, SEI, and Immutable will each unlock $104 million worth of assets.
Disclaimer
In accordance with Trust Project guidelines, BeInCrypto is committed to fair and transparent reporting. This news article is intended to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to independently verify their facts and consult a professional. Please note that our Terms of Use, Privacy Policy and Disclaimer have been updated.
