A Number Of Crypto Projects Will Unlock Tokens This December: ADA, JTO, And APT
JAKARTA - December will be a volatile month for a number of crypto projects planning to release tokens or commonly called unlock tokens. Several major crypto projects such as Cardano (ADA), Jito (JTO), and Aptos (APT) will start an unlock token this month.
Additional information, token unlock is the release of tokens that were previously stored in early times during the initial coin offering (ICO) period when the crypto project was developed. The program will release stored tokens to market so that they can be traded by the public. Data from Tokonomics shows that the total value of token release scheduled for December reached around $700 million. The amount that could affect market volatility.
On December 4, Cardano will distribute 18.53 million ADA tokens, worth about US$20 million (Rp316 billion). ADA's unlock token, which amounts to less than 0.1% of the supply in circulation, will be used for staking funding and treasury reserves. Interestingly, ADA prices have seen a significant increase in recent weeks, recording a 198% spike in 30 days and trading over $1 for the first time in more than two years, according to CoinGecko data.
Furthermore, Jito, a Solana-based project, will carry out the largest release with 135.71 million JTO tokens on December 7, which is estimated to be worth around $521 million. The unlock token covers more than 100% of the supply in circulation and will be distributed to core and investor contributors. JTO itself is currently trading around $3.8, up about 4% in the last 24 hours.
Aptos will also follow by releasing 11.31 million APT tokens on December 11, worth about 153 million US dollars (Rp2.42 trillion). The token will be distributed to foundations, communities, core contributors, and investors, covering about 2% of the supply in circulation, reported by CryptoBriefing.
In addition to the three main projects, a number of other projects are also planning to unlock large tokens this month, such as Neon (NEON), Polyhedra Network (ZKJ), and Space ID (ID). Release of tokens often increases market pressure, triggering significant price fluctuations in a short time, as happened to Celestia's TIA token at the end of last October.