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17 Noteworthy Token Unlocks in February 2023

Web3 Station

Web3 Station

— 2 min read
17 Noteworthy Token Unlocks in February 2023

In February 2023, 17 projects, including 1inch, Tornado Cash, Moonbeam, ApeCoin, and Aptos, will unlock a portion of their tokens.

The total value of tokens set to be unlocked this February amounts to $588.4 million, according to Token Unlocks.

Among these, 1inch, Moonbeam, Aptos, ApeCoin, and Tornado Cash are notable for their significant unlock schedules.

Top 3 Token Unlocks for the Month:

  • Sandbox (SAND) – February 14: The largest unlock of the month will release 372 million SAND, which represents 12.419% of the total supply, equating to approximately $266 million.
  • BitDao (BIT) – February 15: The second largest unlock will involve 187 million BIT tokens, valued at $97 million.
  • Aptos (APT) – February 12: Aptos will unlock tokens worth $75 million, marking the third largest unlock of the month.

14 Additional Noteworthy Unlocks:

The first unlock of the month came from 1inch Network (1INCH) on February 1, releasing 64,286 tokens valued at $32,500.

Following 1inch, Galxe (GAL), Nym (NYM), and X2Y2 (X2Y2) will have their unlocks on February 2, 3, and 4, respectively. GAL will release tokens worth $436,500, while NYM and X2Y2 will unlock tokens valued at $23 million and $5 million, respectively. X2Y2 will release tokens valued at $109,964 daily.

On February 6, Tornado Cash (TORN) will unlock 175,000 tokens valued at over $1 million. Four days later, Moonbeam (GLMR) will add $3 million worth of tokens to circulation, with GLMR releasing $90,396 worth daily until the total is unlocked.

The SweatEconomy (SWEAT) unlock will start on February 13, with 129 million tokens worth $1.9 million.

dYdX (DYDX) and Euler (EUL) have their unlocks scheduled for February 14 and 15, respectively, releasing tokens valued at $19 million and $496,700. On February 17, tokens worth $42 million from ApeCoin (APE) will enter circulation.

Acala (ACA) and ImmutableX (IMX) will unlock tokens on February 25, with values of $616,000 and $13.2 million, respectively. IMX will release 485,000 tokens daily.

Ronin (RON) and Yield Guild Games (YGG) will finalize their unlocks on February 27. Ronin will release 4.154% of its total supply, equating to $32.9 million, while YGG will unlock tokens valued at $5.1 million.

According to a five-year report from Token Unlocks, an estimated $102 billion in tokens remains to be unlocked in the coming years.

Read More: What is Galxe?

The community should be cautious, as the market is extremely sensitive, and significant unlocks may prompt profit-taking actions from holders.

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