10 Top Crypto Token Unlocks For December 2023

For the last time this year, various cryptocurrencies are set to undergo token unlocks, a process allowing the trading, transfer, or other utilization of digital tokens after a predefined period or specific conditions are met. This strategy is commonly employed by blockchain projects to deter immediate selling by team members and early investors, preventing potential price fluctuations. 

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December 2023 Token Unlocks

DYDX (ETHDYDX)

• Unlock Date: December 1
• Tokens: 150 million ETHDYDX (almost $500 million)
• About DYDX: 

It is the governance token for the dYdX stands as a decentralized cryptocurrency exchange layer 2 protocol. This token plays a pivotal role in overseeing the functioning of layer 2, enabling active participation from traders, liquidity providers, and partners in shaping the protocol’s future as a community. Token holders possess the authority to suggest alterations to dYdX’s layer 2, presenting opportunities for benefits through activities such as token staking and availing trading fee discounts.

The release represents 83.21% of its circulating supply and 15% of its total supply. By next year, DYDX will start a monthly unlocking pattern where it is expected to unlock around 34 million DYDX tokens for the first six months.

1inch Network (1INCH) 

• Unlock Date: December 1 and 10
• Tokens: more than 90 million 1INCH ($33.7 million) and 21.43k 1INCH ($7.94k)
• About 1INCH: 

1INCH is the governance and utility token of the 1inch Network. It is used for holding, spending, sending, or staking. As the platform’s governance token, 1INCH token holders can vote on and propose updates to the 1inch protocol, such as how fees are structured and distributed across platform users.

According to Top 7 ICO’s post, the network unlocked 6.58% of its total token supply on December 1. 

ImmutableX (IMX)

• Unlock Date: December 1 and 29
• Tokens: 35.1 million ($50.3 million) and 1.2 million IMX ($1.75 million)
• About IMX: 

IMX is used within the Immutable X ecosystem, a layer-2 scaling solution for Ethereum, focusing on NFTs and dApps.

The release on December 1st, 2021, represented 1.87% of the total IMX supply. The upcoming unlock will be linear and include tokens allocated for Ecosystem Development, Project Development, and Private Sale.

SUI

• Unlock Date: December 3 and 31
• Tokens: 65 million SUI ($40.9 million) and 4 million SUI ($2.5 million)
• About SUI: 

SUI is the governance and utility token of the Sui Network. It is used for holding, spending, sending, or staking. As the platform’s governance token, SUI token holders can vote on and propose updates to the Sui protocol, including the structure and distribution of fees across platform users.

Liquidity (LQTY)

• Unlock Date: December 5
• Tokens: 657.35k LQTY ($1.07 million) 
• About LQTY: 

Liquity (LQTY) is a USD-pegged stablecoin on the decentralized borrowing protocol built on Ethereum. Ether holders can draw loans in the form of LQTY, with redemption and loan issuance fees algorithmically adjusted according to the protocol’s collateral ratio.

Cartesi (CTSI)

• Unlock Date: December 28
• Tokens: 138.82K CTSI
• About CTSI:

Cartesi (CTSI) is a blockchain project that aims to bridge the gap between traditional software and blockchain by enabling developers to create scalable smart contracts using standard programming languages.

Aptos (APT)

• Unlock Date: December 12
• Tokens: 24.8 million APT ($172.9 million) 
• About APT: 

Aptos token is essential for interoperability and governance in the Aptos ecosystem. This month’s release is equivalent to 8.96% of its circulating supply. Last month, the network also unlocked 4.84 million APT or $168.93 million in fiat.

ApeCoin (APE)

• Unlock Date: December 17
• Tokens: 15.6 million APE ($26 million)
• About APE: 

APE is a governance token in the Bored Ape Yacht Club ecosystem, utilized in various applications, including in-game assets. This month’s release is equivalent to 4.23% of its total supply; last month, APE also released 15 million tokens.

SingularityNET (AGIX)

• Date: December 28
• Tokens: 9.25 million AGIX ($2.99 million)
• About the AGIX:

SingularityNET (AGIX) is a cryptocurrency that is used on the SingularityNET platform. The platform allows anyone to create, share, and monetize AI services using its utility token AGIX.

Optimism (OP)

• Unlock Date: December 30
• Tokens: 24.15 OP ($43.97 million)
• About OP: 

The Optimism Token (OP) is an ERC-20 token used for participation in the governance of the Optimism protocol. It can be bought or sold on Coinbase and other exchanges.

The release is 0.56% of OP’s total supply.

This article is published on BitPinas: 10 Crypto Token Unlocks For December 2023

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