Several cryptocurrencies are scheduled to have their tokens unlocked this November. A token unlock is a process referring to the availability of a cryptocurrency or digital token for trading, transfer, or other uses after a certain period or specific conditions have been met.
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Why Token Unlock is Happening
Blockchain projects often use token locks to prevent immediate selling by team members, advisors, and early investors, which could lead to significant price volatility. Scheduled token unlocks over months or years aim to stabilize prices and align token holder interests with the project’s long-term success. When a token unlock occurs, the previously locked tokens become tradable.
Cryptocurrencies with Token Unlocks in November 2023
Unlock Date: November 1, 2023
Tokens: 2.9 million GMT ($563,910)
About GMT: GMT is the governance token of the Stepn move-to-earn health and fitness application. It allows governance participation and is used for in-app features like sneaker upgrades.
Tornado Cash (TORN)
Unlock Date: November 3, 2023
Tokens: 22.9k TORN ($69,680)
About TORN: Tornado Cash is a decentralized protocol for enhancing transaction privacy by mixing assets, making them harder to trace.
Unlock Date: November 4, 2023
Tokens: 18.08 million IMX ($12.11 million)
About IMX: IMX is used within the Immutable X ecosystem, a layer-2 scaling solution for Ethereum, focusing on NFTs and dApps.
Unlock Date: November 7, 2023
Tokens: 160.38 million HFT ($43.91 million)
About HFT: HFT is the governance token of the Hashflow protocol, facilitating staking, voting, and access to exclusive features.
Unlock Date: November 12, 2023
Tokens: 24.84 million APT ($168.93 million)
About APT: Aptos token is essential for interoperability and governance in the Aptos ecosystem.
1inch Network (1INCH)
Unlock Date: November 16, 2023
About OP: The 1inch Network is a decentralized finance (DeFi) platform known for its aggregator service that scans various exchanges to find the best cryptocurrency prices.
Unlock Date: November 17, 2023
Tokens: 15.6 million APE ($21.37 million)
About APE: APE is a governance token in the Bored Ape Yacht Club ecosystem, used for various applications including in-game assets.
Unlock Date: November 24, 2023
Tokens: 9.54 million AVAX ($104.81 million)
About AVAX: AVAX is the native token of the Avalanche blockchain, used for transaction fees, network security, and governance.
Oasis Network (ROSE)
Unlock Date: November 18, 2023
Tokens: 196 million ROSE ($10.17 million)
About ROSE: ROSE is used for transaction fees, staking, and delegation within the Oasis Network.
Unlock Date: November 27, 2023
Tokens: 3.9k LOOK ($2.74 million)
About LOOKS: LOOKS is the native token of LooksRare, used for staking, trading rewards, and other platform activities.
This article is published on BitPinas: Top 10 Token Unlocks for November 2023
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