Popular altcoins like Aptos, Jito, Melania, Movement, and The Sandbox are bracing for a key event this month when they unlock millions of tokens.
Aptos, a leading player in the layer-1 industry, will unlock over 11.3 million tokens valued at over $92.2 million on February 12. This unlock will be part of its monthly process until October 2032. Aptos has 574 million tokens in circulation against a total supply limit of 1.13 billion APT tokens.
Jito (JTO) will unlock 11.31 million tokens worth over $34 million on February 7th. Its token unlock schedule will continue until December 2026, when all the 1 billion tokens have been unlocked.
Jito’s token unlock comes when the Solana liquid staking network is firing on all cylinders. Its assets have surged, becoming the second-most profitable network in the crypto industry after Tether. It has made over $303 million year-to-date.
However, Movement Labs will unlock 50 million MOVE tokens worth over $38.73 million on 9th February. Movement is one of the top networks in the crypto industry, and it created the Move programming language that powers many networks.
Melania and The Sandbox Unlocks
The other top crypto that will have a token unlock this month is Melania, which will unlock about 3% of the supply on February 20th. After that, it will unlock about 2.25% of the remaining supply each month, with the vesting period ending in 13 months.
Melania has become one of the top memecoins in the crypto industry, with a market cap of over $736 million and a fully diluted valuation of $1.52 billion.
The Sandbox, the once-popular metaverse project, will unlock 205 million tokens worth over $110 million on February 14th. Some other blockchain networks that will have substantial unlocks are Polyhedra, Ethena, Arbitrum, and Immutable.
A token unlock happens when new crypto tokens are released to the market, leading to more supply as some investors sell. In theory, this token unlock event is usually bearish for a coin.
However, it is common for tokens to rally ahead and after the unlock, especially when the sentiment in the crypto industry is strong.
READ MORE: Wild AI Memecoin To Buy Hits $19M as Crypto Market Recovers
