Notable Token Unlocks to Watch Out in February 2023

    17 projects, including 1inch, Tornado Cash, Moonbeam, ApeCoin and Aptos will partially unlock their tokens in February 2023.

    The number of tokens unlocked into circulation this February totaled $588.4 million, according to Token Unlocks. 1inch, Moonbeam, Aptos, ApeCoin, and Tornado Cash are among 17 projects scheduled to be unlocked.

    Source: Token Unlock

    Top 3 unlocks in February

    • Sandbox (SAND) – February 14th: The largest token payment of the month with 372 million SAND, accounting for 12.419% of the total supply, equivalent to about $266 million.
    • BitDao (BIT) – Feb 15th: The second major unlock comes from 187 million BIT tokens, equivalent to $97 million.
    • Aptos (APT) – February 12th: Releasing $75 million worth of APT tokens into circulation, marking the third major unlock of the month.

    14 other major unlocks

    The first unlock of the month came from 1inch Network (1INCH) on February 1st with 64,286 tokens, worth $32,500.

    Galxe (GAL), Nym (NYM) and X2Y2 (X2Y2) follow 1inch with token payouts on Feb 2, Feb 3 and Feb 4, respectively. GAL will issue $436,500 worth of tokens, while NYM and X2Y2 will unlock $23 million and $5 million respectively. X2Y2 will pay $109,964 worth of tokens per day.

    On February 6, Tornado Cash (TORN) released 175,000 tokens, worth more than $1 million. After 4 days, Moonbeam (GLMR) will add $3 million tokens ($1.3 million) to circulation. GLMR issues 90,396 USD per day until the total amount to be unlocked is reached.

    The SweatEconomy (SWEAT) unlock round will start on February 13, with 129 million tokens ($1.9 million).

    dYdX (DYDX) and Euler (EUL) closed the unlock schedule on February 14 and February 15, respectively, at $19 million and $496,700. On February 17, $42 million worth of ApeCoin (APE) will go into circulation.

    Acala (ACA) and ImmutableX (IMX) both paid out tokens on February 25, with $616,000 and $13.2 million in value, respectively. The amount of IMX issued per day is 485,000 tokens.

    Ronin (RON) and Yield Guild Games (YGG) closed the unlock list on February 27. Ronin will release 4,154% of the total supply, or $32.9 million, while YGG will unlock $5.1 million worth of tokens.

    According to an annual report from Token Unlocks, it is estimated that in the coming years there will still be $102 billion in unlocked tokens.

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