Token unlock or token unlock is the event where tokens that have been locked for a certain period of time are released again. In this article, we look at 7 altcoin projects that will unlock massive amounts of tokens in March.
Apecoin and Aptos among altcoin projects to unlock in March
The Twitter analyst nicknamed “Crypto Analyst” tweeted this morning about the 7 biggest token unlocks that will happen in March 2023. According to the tweet, it is preparing to launch massive amounts of tokens in popular altcoins like Apecoin and Aptos in March.
The tweet included a graph showing the amount of tokens to be unlocked, the corresponding date, as well as the approximate dollar amount of each token unlock. The general view of the table is as follows:
In summary, major altcoin projects will launch millions of tokens in March, many of which are among the top 50 by market cap. In the rest of the article, let’s answer the curious questions such as how strong the selling pressure can be.
- Hedera (HBAR) – March 1
- ApeCoin (APE) – 17 mArt
- BitDAO (BIT) – March 15
- Aptos (APT) – March 12
- dYdX (DYDX) – March 14
- ImmutableX (IMX) – March 25
- Acala Network (ACA) – March 1
Token unlock dates and amount of tokens to be released
HBAR’s unlock date is set for March 1. 140,110,994 HBARs will be unlocked on this date. The estimated value of the tokens to be unlocked is $227 million. Meanwhile, APE’s unlock date is March 17, and 40,601,326 tokens worth approximately $210 million will be unlocked. The date of BIT unlocking is March 15, and 187.5 million BITs with a total value of $109 million will enter circulation.
APT unlocks will be opened on March 12 and 4,543,478 APT tokens will be released, with a total value estimated to reach $56.4 million. DYDX, IMX, and ACA will see 6,520,128, 18,075,991 and 32,050,001 tokens unlocked, respectively.
The token unlock date for DYDX is set for March 14, while the unlocking of IMX and ACA will occur on March 25, 2023 and March 1, 2023. The total dollar amount of DYDX tokens to be unlocked is estimated to be $18.1 million. The amount of IMX to be unlocked reaches approximately $17.2 million. Finally, the value of ACA’s token lock is the smallest on the list at $4.48 million.
These two altcoins unlock tomorrow
Hedera (HBAR) and Acala Network (ACA) are the first altcoin projects on the list to unlock. HBAR is trading in the $0.07087 region, where it lost around 5% prior to the token unlock. With roughly 6.28% of supply entering the free market on March 1, HBAR bulls may want to stay on the sidelines and wait for an upcoming price adjustment.
Also, as the RSI needs to absorb supply, HBAR could decline below this oversupply towards $0.065. Testing $0.06 before the RSI reaches oversold will be a sign of strength for the bulls. Once a new price equilibrium is reached, the bulls will start buying again and push the price action up again.
It is trading similarly down at $0.1347 on the ACA. cryptocoin.comWe have included other projects prepared for a similar event in this article.
