The cryptocurrency market is anticipating a huge influx of assets in April, with more than $1.7 billion worth of tokens scheduled to be issued. The most prominent of these symbols are Aptos, Axie Infinity, Arbitrum, and Ronin.
Token unlocks have gained traction as a strategy to gradually introduce locked assets into the market over a pre-determined time frame. Proponents believe that this method aligns incentives between project investors and stakeholders. However, it often results in short-term fluctuations and price declines.
The most important tokens will be unlocked in April
CryptoRank, a leading cryptocurrency research and analysis platform, has identified the top 10 token unlock events in April. The cumulative value of these assets exceeds $1.7 billion, and approximately $250 million of these assets are scheduled to be issued during the first week of next month.
Layer 1 network Aptos leads the competition with its planned issuance of 24.84 million tokens worth approximately $418.75 million on April 12. On the other hand, Axie Infinity, a for-profit gaming platform, will unveil 14.8 million AXS tokens, valued at about $167.40 million, on April 17.
Arbitrum, Ethereum's leading layer-2 network, is also set for a token unlock event in April. After its grand issuance of more than 1 billion ARB tokens in March, which significantly affected market dynamics, it plans to open an additional 92.63 million tokens worth more than $152 million on April 16.
Read more: 7 cryptocurrencies you should have in your wallet before the next bull run
Likewise, Ronin Bridge will release 36.81 million tokens worth $151.66 million. The second layer StarkNet network will also offer 63.99 million tokens worth $139 million. Meanwhile, Sui will also issue approximately 65 million tokens worth $127 million. Decentralized exchange dYdX will unlock 33.3 million tokens worth approximately $116.7 million.
Furthermore, Uniswap, SEI, and Immutable will free up assets worth $104 million, respectively.
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