February is poised to witness a series of significant token unlocks and airdrops.
February is poised to witness a series of significant token unlocks and airdrops, with several major crypto projects releasing substantial quantities of tokens into the market, according to data from TokenUnlocks.
Aptos (APT) will unlock nearly 25 million APT tokens worth approximately $222 million at current prices on February 11. This represents over 7% of the token's circulating supply. Aptos is a Layer-1 network that emerged from Facebook's Libra project, and is based on the Move programming language.
The Sandbox (SAND) will unlock 205 million SAND tokens worth $88 million at current prices on February 14. This represents 9% of the token's circulating supply. The Sandbox is a metaverse platform where users can purchase virtual land, build experiences, and monetize their creations.
Avalanche (AVAX), a Layer-1 network aiming to scale to 100,000 transactions per second, will unlock 9.5 million AVAX tokens worth $344 million at current prices on February 21. These tokens represent 2.6% of the circulating supply, bringing the total unlocked portion of AVAX tokens to 60%.
Optimism (OP) will unlock 24 million OP tokens worth $72 million at current prices on February 28. This represents 2.5% of the Ethereum Layer-2 network's token's circulating supply. Optimism is known for its low transaction fees and fast processing times.
Several smaller unlocks from projects such as Cyberconnect, ApeCoin, Manta Network, Oasis Network, and Space will also happen in February. These unlocks and airdrops range from $5 million to $21 million in value.
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