$900M in vested tokens set to be released in February
Feb 2, 202413:29 GMT+4:30
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The digital asset market is bracing for the release of nearly $900 million in vested tokens this month, with projects like Avalanche, Aptos and The Sandbox leading the charge.
Crypto vesting is the process of locking down digital assets for a predetermined time before the holders are able to fully access or transfer them from their wallets. The practice is designed to prevent early investors from quickly dumping their tokens for a profit and leaving the business while attempting to incentivize long-term dedication to the project.
According to data provider Token Unlocks, about $900 million worth of tokens will be released in February. Some of the tokens set to be released include Avalanche
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, Aptos
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, The Sandbox
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, Optimism (OP) and Sui (SUI).
Of the projects releasing tokens, Avalanche will unlock the biggest amount. On Feb. 22, the proof-of-stake (PoS) blockchain project is expected to release 9.5 million tokens. At the time of writing, the tokens are worth around $320 million. Token Unlocks highlighted that the tokens are allocated to the Avalanche Foundation, the project's strategic partners and team members, and airdrop.
Cointelegraph
Layer 1 blockchain Aptos will release 24.8 million crypto tokens on Feb. 11, which are worth around $233 million at current market prices. About $180 million in tokens are allocated to its core contributors and investors, while another $39 million in tokens are for its community and foundation.
