Significant Token Unlocks Set to Impact Crypto Market This Week
Major Token Releases to Watch This Week
This week, the crypto market will witness the release of tokens valued at over $237 million from key projects including Aptos (APT), Linea (LINEA), and Cheelee (CHEEL). These unlocks may introduce volatility and influence short-term price actions. Here’s an overview of the upcoming events.
1. Aptos (APT)
- Unlock Date: December 11
- Number of Tokens to be Unlocked: 11.31 million APT (0.96% of Total Supply)
- Current Circulating Supply: 736 million APT
- Total Supply: 1.18 billion APT
Aptos, a Layer-1 blockchain platform, focuses on scalability and security for decentralized applications. On December 11, it will release 11.31 million tokens worth $19.79 million, representing 0.80% of the circulating supply. The distribution includes 3.96 million tokens for core contributors, 3.21 million for the community, 2.81 million for investors, and 1.33 million for the foundation.
2. Linea (LINEA)
- Unlock Date: December 10
- Number of Tokens to be Unlocked: 1.38 billion LINEA (1.92% of Total Supply)
- Current Circulating Supply: 16.7 billion LINEA
- Total Supply: 72 billion LINEA
Linea, a zkEVM Layer-2 scaling solution for Ethereum, will unlock 1.38 billion tokens on December 10, valued at approximately $11 million, accounting for 6.76% of the circulating supply. The supply will be divided as follows: 600.08 million tokens for long-term alignment, 480.07 million for Ignition, and 300.07 million for future airdrops.
3. Cheelee (CHEEL)
- Unlock Date: December 13
- Number of Tokens to be Unlocked: 20.81 million CHEEL (2.08% of Total Supply)
- Total Supply: 1 billion CHEEL
Cheelee, a SocialFi platform, plans to release 20.81 million tokens worth around $10.86 million on December 13, representing 2.86% of the released supply. The allocation includes 10.58 million tokens for rewards, 7.55 million for marketing, 2.64 million for liquidity, and 36,720 for a community drop.
Investors should also keep an eye on other notable token unlocks this week from Axie Infinity (AXS), BounceBit (BB), and Movement (MOVE).