In November, altcoin projects will release $2.68 billion worth of locked coins. According to data provided by Tokenomist (formerly Token Unlocks), approximately $900 million of these tokens will be released at once (cliff). However, the remaining $1.7 billion will enter the market gradually. These openings are provided by token vesting, a practice carried out by early investors or team members of projects to prevent tokens from being suddenly sold and putting pressure on the markets. This method is also used as a security measure to prevent sudden drops in token prices.
Those altcoin projects will make massive unlocks in November
The most notable token openings in November 2024 include Memecoin, Aptos, Arbitrum, Avalanche and Optimism projects. These projects will attract attention with the release of large amounts of locked tokens. Memecoin plans to release 3.45 billion tokens for an airdrop to its community. The value of these tokens is calculated as approximately $37.8 million. Moreover, it is reported that approximately 10 million MEME tokens will be gradually opened to project participants every day. The current price of the MEME token is around $0.010, which is 81 percent lower than the 2024 peak of $0.053. This indicates a serious decline in the project’s price performance.
Aptos, one of the first layer (Layer-1) blockchain projects, will release an additional 11.31 million tokens, releasing an asset of approximately $93 million. $32 million of this opening will go to the project core team, $26 million to the community. In addition, $11 million will go to the foundation. The remaining $23 million is then allocated to investors. Altcoin APT is currently trading at around $8.24. However, it is 54% lower than its 2024 peak of $18.14. Avalanche plans to release 1.67 million AVAX tokens for its foundation. The total value of these tokens is approximately $39 million. Similarly, Optimism will open 31.4 million tokens for its investors and core contributors. The total value of these tokens is stated as $44 million.
90 million coins will enter the market on Arbitrum
Ethereum’s Layer-2 solution Arbitrum will release 92.65 million tokens for its investors, team members and advisors. The market value of these tokens is approximately $45 million. Arbitrum released 1.1 billion altcoin projects on March 16. Thus, it made a total opening worth $2.32 billion. However, according to analysts, the price of the ARB token entered a downward trend after this opening. Because it is currently trading at around $0.48. This value is 79 percent below the peak price of $2.39 reached on January 12.
Altcoin expansions can have a wide-ranging impact on the market. Especially the sudden release of large amounts of tokens can cause fluctuations in the price of assets. Since these expansions can increase the selling pressure on the market and lead to sudden drops in token prices, investors should be careful during these periods. Analysts state that the effects of expansions may vary depending on the project’s community, investors and market conditions. This news includes the altcoins that will unlock the largest amounts in November. However, it is worth noting that many altcoins will go through the same process beyond these.
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