dYdX to unlock tokens worth $500 million in December

In the coming weeks, multiple crypto projects will unlock a substantial amount of tokens.

According to Token Unlocks data, in December, the front runner will be the decentralized exchange, dYdX, which will be responsible for unlocking 150 million tokens, equivalent to 30% of its tokens distributed amongst investors, founders, and its employees on December 01. The tokens are valued at $500 million as per the present pricing.

The price of dYdX increased when it came out with a declaration on January 25, 2023, that the unlock planned for February would be extended to December. The exchange incurred a loss of $9 million in terms of its insurance fund. The CEO connected it with a targeted attack.

In the upcoming week, substantial tokens will occur, such as Optimism, which will be responsible for unlocking 32.21 million tokens amounting to $58 million on November 29, along with 1 inch, which will initiate the unlocking of 98.74 million tokens amounting to $34.5 million on the December 01.

Totaling the substantial unlocks is Aptos, which has plans of unlocking 24.84 million tokens amounting to $180 million as per the present pricing on December 12, followed by ApeCoin unlocking 15.16 million, which is valued at $25 million on December 16.

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Jupiter, the DEX collector on Solana, declared that the eligible list regarding its imminent airdrop will be positioned live soon. Users will have the option of verifying their token distribution. The exchange explained their method of improving the distribution system as an answer for bot functioning and power users coming with various wallets.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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