A range of cryptocurrency projects will be releasing approximately $2.68 billion worth of locked tokens into the market in November. These releases include significant unlocks from top digital currency ventures such as Memecoin, Aptos, Arbitrum, Avalanche, and Optimism. According to Tokenomist, a platform that tracks digital asset vesting data, of the total releases, over $900 million tokens will be unlocked in a cliff fashion, while around $1.7 billion will take a linear path.
Crypto token vesting is a commonplace approach used by ventures in the crypto industry to stop early investors or project teams from selling their tokens prematurely, thereby protecting the project during its maturation process. This method also aides in preventing a sudden sell-off by multiple token holders, which could negatively impact the token price, triggering a market downturn.
The most substantial unlocks will occur for the Memecoin project, with 3.45 billion coins set to be unlocked from an airdrop. This will equate to approximately $37.8 million in value. The release not only includes a cliff unlock but also a daily linear unlocking of over 10 million MEME tokens. Currently, the MEME token stands 81% lower than its 2024 high, trading at $0.010.
Other significant unlocks include Aptos, a layer-1 blockchain solution, which is preparing for a token release totaling 11.31 million tokens, worth roughly $93 million. Additionally, Avalanche will unlock 1.67 million AVAX tokens of $39 million in value and Optimism will release 31.4 million tokens worth about $44 million.
Arbitrum, an Ethereum layer-2 network, will set free a substantial 92.65 million tokens that carry $45 million in value. These tokens have been earmarked for the investors, team, and advisers. This comes after a considerable token release in March, which marked a significant drop in ARB token price, which now sits 79% lower than its record-high.