Will November $500M Token Unlocks End The Effect of Uptober?

Based on calculations from BeInCrypto, token releases scheduled for November could potentially increase the supply by approximately $443 million in value. Hashflow (HFT), Aptos (APT), and Avalanche (AVAX) are among the projects with the highest unlocks.

October was a hugely bullish month for the cryptocurrency market as the flagship crypto Bitcoin (BTC) rallied around 30%. However, there are major token unlocks scheduled for November.

HFT Will Release 74% of Its Circulating Supply 

BeInCrypto calculated from Token Unlock’s data that crypto projects will unlock tokens worth nearly $443 million in November. And Hashflow is the project with the third largest number of unlocks.

The screenshot below shows that Hashflow (HFT) will unlock 74% of its circulating supply on Nov. 7. The project will unlock 160.38 million tokens worth $44.97 million for the following beneficiaries:

• 48.30 million tokens worth $13.54 million for the core team
• 416,670 tokens worth $116,820 for the community rewards
• 49.16 million tokens worth $13.78 million for the ecosystem development
• 62.50 million tokens worth $17.51 million for early investors

Avalanche’s $110 Million Token Unlock

The Layer 1 project Avalanche will release 9.54 million AVAX tokens worth $109.64 million on Nov. 24. The tokens scheduled for unlocking make up 2.69% of its circulating supply.

There are four beneficiaries for the upcoming cliff unlock:

• 2.25 million tokens worth $25.85 million for strategic partners
• 1.67 million tokens worth $19.15 million for the Avalanche Foundation
• 4.50 million tokens worth $51.71 million for the team
• 1.13 million tokens worth $12.93 million for the airdrop winners.

Read more: How to Add Avalanche to MetaMask: A Step-by-Step Guide

Aptos Will Unlock Over $170 Million Worth of APT Tokens

Based on current data, Aptos (APT) will have the most substantial unlock value among all the token unlocks scheduled for November. The Layer 1 blockchain project will unlock the native tokens consisting of 10.05% of its circulating supply.

24.84 million APT tokens, worth $171.16 million, will be released for the following parties:

Read more: An Ultimate Guide to Aptos Cryptocurrency (APT) and Its Network

• 1.33 million tokens worth $9.19 million for the Foundation
• 11.88 million tokens worth $81.82 million for core contributors
• 8.42 million tokens worth $58.04 million for investors, and lastly,
• 3.21 million tokens worth $22.12 million for the community

While investors were overjoyed with the October rally, it is worth considering if the unlocks would push the price down for these tokens. Readers should note that the unlocks may not necessarily impact the price of certain cryptocurrencies.

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For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.