Aptos and Avalanche dominate among $450 million in November token unlocks
Crypto projects Aptos, Avalanche and Hashflow are set for the most significant token unlocks this month, releasing more than a combined $320 million worth of tokens into their circulating supplies — among a total of $450 million in November unlocks.
Layer 1 blockchain Aptos, founded by ex-Meta execs, will see the largest token unlock by value, according to TokenUnlocks. Aptos will release 24.8 million APT tokens on Nov. 12. This comprises 10% of its circulating supply and is worth approximately $172.9 million.
The majority, some $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, TokenUnlocks data states.
Following the smaller release of 4.5 million APT tokens ($31.6 million) during its October unlock, the price of APT rose around 2% from $4.84 to $4.94 over the next seven days, 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 outage for the network last month.
APT/USD price chart. Image: CoinGecko.
Avalanche unlocks $107 million worth of tokens
Layer 1 blockchain Avalanche is also set for a substantial token unlock in November, releasing 9.5 million AVAX tokens on Nov. 24, per TokenUnlocks.
Representing 2.7% of circulating supply, the AVAX unlock is currently worth $106.9 million. Some $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 possible airdrop. This is in addition to the 100,000 AVAX ($1.1 million) released per day for staking rewards.
The AVAX token fell 12.5% from $10.04 to $8.78 within 30 days after Avalanche’s last unlock on Aug. 26 released the same amount of tokens. AVAX is currently trading at $11.15, up 11% since that token unlock, coinciding with FriendTech rival Stars Arena fueling a transaction surge on the blockchain.
AVAX/USD price chart. Image: CoinGecko.
Hashflow releases 74% of circulating supply
Multi-chain decentralized exchange Hashflow rounds out the top three November token unlocks by value, releasing 160.4 million HFT tokens on Nov. 7 — worth approximately $41.3 million. At 73.9% of its 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 on top of around $44,000 worth of tokens currently being 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 over 34% within two weeks before recovering. HFT is currently trading at $0.26, down 19% since its last token unlock.
HFT/USD price chart. Image: CoinGecko.
Other notable token unlocks in November include Optimism ($33.3 million), ApeCoin ($20.8 million) and Sui ($15.5 million).