Should You Sell Your Altcoins Before Token Unlocks?
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November is here, and you know what that means. We’re diving into token unlocks! We always kick off the month with these updates because staying in the loop on token unlocks can be a game-changer. Why? Because when new tokens flood the market, prices can tank fast, and we don’t want you caught off guard.
This month, we’re looking at over $1 billion worth of tokens hitting the market. SUI led the charge with a hefty unlock on November 1st, and that’s just the start. As these tokens roll out, the market could take some serious hits. So, what other big unlocks are lined up for November? Let’s break it down. And stay tuned—one of these projects has a massive token unlocks that could shake things up.
1) Aptos
First on today’s list is Aptos. Aptos is a Layer 1 blockchain we like for its focus on speed, scalability, and low-cost transactions—perfect for transferring funds fast and without breaking the bank. And they’ve been on fire lately.
Aptos saw a 23% boost in the past month, and they’re up over 40% year-over-year. They also just shared some big moves. They just added USDT to their chain, allowing instant, dollar-pegged transactions for minimal fees. This addition alone could be a game-changer for anyone moving large sums. Now, for the big news: Aptos is unlocking 11.21 million APT tokens worth around $110 million on November 11. Here’s the breakdown:
- Community: 3.21 million APT tokens, worth roughly $31.23 million.
- Foundation: 1.33 million APT tokens, valued at about $12.97 million.
- Investors: 2.81 million APT tokens, worth $27.32 million.
- Core Contributors: 3.96 million APT tokens, valued at around $38.51 million.
Revolutionizing cross-border payments with @Tether_to
USDT on Aptos will disrupt the existing global payment rails, simplifying financial mobility across borders
pic.twitter.com/tK58RcHZca
— Aptos (@Aptos) October 29, 2024
And with all this activity, Aptos is making waves! Their total value locked (TVL) briefly spiked above $900 million in October, coming close to the $1 billion mark for the first time. This unlock could impact the market in a big way—so keep your eye on Aptos.
2) Cheelee
Next up, let’s talk about Cheelee. If you’re into earning rewards while watching short videos, Cheelee is worth knowing. It’s a crypto-powered video platform where users get rewarded with tokens for simply interacting with content. Built on the BNB Smart Chain, Cheelee brings in NFTs and GameFi elements. It enables users to create collections and do a bunch of other cool things.
Now, here’s the big news: Cheelee is set to unlock 20.81 million CHEEL tokens, valued at approximately $239.14 million, on November 13. Their last unlock was just last month, on October 13, and it made a noticeable impact. Here’s how the November allocation breaks down:
- Cheelee Rewards: 10.58 million CHEEL tokens, valued at about $121.60 million.
- Community Drop: 36.72k CHEEL tokens, worth $421.90k.
- Liquidity – Remaining: 2.64 million CHEEL tokens, valued at around $30.32 million.
- Marketing – Remaining: 7.55 million CHEEL tokens, worth approximately $86.79 million.
TOP 7 Token Unlocks of the Upcoming Week with the largest unlock amount:
Aptos – $171.99M
— IT Tech (@IT_Tech_PL) November 4, 2023
Cheelee is listed on platforms like Bitmart and Gate.io, but their price took a slight dip after October’s unlock. So, if history repeats, we might see similar volatility this time around. Keep Cheelee on your radar.
3) Arbitrum
The next major unlock for November is from the guys at Arbitrum. We know Arbitrum as one of the leading Layer 2 solutions for Ethereum. Arbitrum is popular for reducing gas fees and speeding up transactions without compromising security. These features have made it a go-to for developers. Arbitrum is also gaining traction with new partnerships, like the one with Gam3s.gg, a gaming aggregator that recently moved its on-chain infrastructure to Arbitrum.
Plus, they’ve integrated with Deep Blue, a platform focused on stablecoin issuance and bridging real-world applications to crypto. Now, let’s talk about the unlock: On November 16, Arbitrum will release 92.65 million ARB tokens, which is about 2.33% of its circulating supply, valued at $52.42 million. Here’s how the allocation breaks down:
- Team, Future Team + Advisors: 56.13 million ARB tokens, valued at around $31.76 million.
- Investors: 36.52 million ARB tokens, worth approximately $20.66 million.
Their last unlock on October 16th was worth around $51.02 million, and the price has stayed relatively stable since then. While unlocks can impact prices, Arbitrum’s stability and strong development activity might help maintain price resilience. This one’s worth keeping a close watch on.
4) Avalanche
Alright, let’s wrap it up with Avalanche. Known for high-speed transactions and scalability, Avalanche is quickly becoming a top choice in crypto. Recently, they made headlines by launching a Visa crypto card, letting users spend their crypto anywhere Visa is accepted—a big move toward mainstream use.
Introducing the Avalanche Card!
Spend your WAVAX, USDC, sAVAX, and more wherever Visa is accepted.
Enjoy both physical and virtual cards, 24/7 dedicated support, and seamless transactions through popular apps.
The future starts now! Join the waitlist and check out the full… pic.twitter.com/NUmW93sX5P
— Avalanche Foundation
(@AvalancheFDN) October 21, 2024
Now for the unlock: On November 18, Avalanche will unlock 1.67 million AVAX tokens, worth around $43.79 million. This entire amount is allocated to their foundation.
With 65.43% of AVAX already circulating and just 35% still locked, Avalanche has a solid foundation for future growth. Their tokens are also up by 128% over the last year, putting Avalanche on a strong path heading into the next bull run.
These unlocks could significantly impact the market, so if you’re holding any of these tokens, stay vigilant. A price drop could present a great buying opportunity for some. No matter where you stand, it’s important to stay focused and ready to act.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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