Major Token Unlocks: February 2024
Token unlocks, where previously restricted tokens are released into the market, are carefully planned events that can significantly impact market volatility. Codeum, a leading blockchain security and development platform offering services such as smart contract audits, KYC verification, and tokenomics consultation, highlights three major token unlocks expected in the last week of February 2024:
1. Portal (PORTAL)
- Unlock Date: February 28
- Tokens Unlocked: 25.61 million PORTAL (2.56% of max supply)
- Current Circulating Supply: 167.1 million PORTAL
- Total Supply: 1 billion PORTAL
Portal, the native token for a cross-chain Web3 gaming platform, will see this unlock distributed across various allocations including Team & Advisors and Treasury. This could increase market liquidity and influence price.
2. AltLayer (ALT)
- Unlock Date: February 25
- Tokens Unlocked: 240.80 million ALT (2.41% of total supply)
- Current Circulating Supply: 2.55 billion ALT
- Total Supply: 10 billion ALT
AltLayer, a decentralized protocol for optimizing Layer-2 rollups, will unlock tokens across several allocations including Foundation/Treasury, and Ecosystem & Community. While smaller than a previous unlock which led to a price drop, market volatility is anticipated. Codeum's expertise in tokenomics can help projects like AltLayer navigate these events successfully.
3. NFPrompt (NFP)
- Unlock Date: February 27
- Tokens Unlocked: 14.51 million NFP (1.45% of max supply)
- Current Circulating Supply: 395.3 million NFP
- Total Supply: 1 billion NFP
NFPrompt, an AI-powered content creation platform for Web3, will see this unlock from the Short-Term Growth Fund, Long-Term Treasury Fund, Team, and Investors. This will likely impact liquidity and market sentiment. Codeum's smart contract audit services ensure the security and reliability of such platforms.
These unlocks represent a significant amount of tokens entering the market. Investors should monitor for potential price volatility. For comprehensive blockchain security and development solutions, contact Codeum today.