Crypto projects Aptos, Avalanche, and Hashflow are poised for major token unlocks this month, releasing a total of over $320 million worth of tokens in their circulating supply. $450 million unlocks in November.
Layer 1 blockchain Aptos, founded by ex-Meta execs, will be the biggest token unlock by value, according to TokenUnlocks. Aptos will release 24.8 million APT tokens on November 12. This includes 10% of the circulating supply and is worth approximately $172.9 million.
The majority, about $82.7 million, of the unlocks will go to core contributors, $58.6 million to investors, $22.3 million to the community and $9.3 million to the Aptos Foundation, according to TokenUnlocks data.
After the smaller release of 4.5 million APT tokens ($31.6 million) during the October unlock, APT’s price rose by about 2% over the next seven days from $4.84 to $4.94, according to CoinGecko. The token is currently trading at $6.93, up 43% since the last unlock amid bullish market conditions, despite a five-hour network outage last month.
APT/USD price chart. Image: Coin gecko.
Avalanche unlocks tokens worth $107 million
Layer 1 blockchain Avalanche is also poised for a substantial token unlock in November 9.5 million AVAX tokens on November 24, per TokenUnlocks.
The AVAX unlock represents 2.7% of the circulating supply and is currently worth $106.9 million. Approximately $50.4 million will go to the project’s team, $25.2 million to strategic partners, $18.7 million to the Avalanche Foundation and $12.6 million set aside for a potential airdrop. This is in addition to the 100,000 AVAX ($1.1 million) released per day for wagering rewards.
The AVAX token fell 12.5% from $10.04 to $8.78 within 30 days after Avalanche’s last unlock on August 26 released the same number of tokens. AVAX is currently trading at $11.15, up 11% since the token’s unlock, coinciding with FriendTech rival Stars Arena fueling a transaction boom on the blockchain.
AVAX/USD price chart. Image: Coin gecko.
Hashflow releases 74% of the circulating supply
Multi-chain decentralized exchange Hashflow rounds up November’s top three token unlocks by value, releasing 160.4 million HFT tokens on November 7 – worth approximately $41.3 million. With 73.9% of the circulating supply, Hashflow represents the largest token release among crypto projects in November, according to TokenUnlocks.
Approximately $16.1 million will go to early investors, $12.7 million to ecosystem development and $12.4 million to the core team, with $107,000 allocated to community rewards. This is in addition to the approximately $44,000 in tokens currently released per day for ecosystem development and community rewards.
Hashflow released 3.2 million HFT tokens ($830,000) last month, with the token price falling more than 34% within two weeks before recovering. HFT is currently trading at $0.26, down 19% since the token’s last unlock.
HFT/USD price chart. Image: Coin gecko.
Other notable token unlocks in November include Optimism ($33.3 million), ApeCoin ($20.8 million), and Sui ($15.5 million).