Cryptocurrency unlock events, which release tokens into the circulating supply, are pivotal in influencing market prices. February is set to witness unlock events for five cryptocurrencies, collectively valued at nearly $1 billion. These events can trigger significant price fluctuations in the affected altcoins.
February’s Notable Unlock Events
The total value of February’s anticipated unlock events is approximately $982.78 million. The most substantial of these will be Avalanche’s (AVAX) unlock on February 22, releasing 9.54 million AVAX tokens valued around $344 million. This event could introduce a substantial amount of supply to the market, raising concerns among investors.
APTOS (APT) coin, known for its frequent and substantial unlock events, will see 24.84 million APT coins, worth $229.54 million, released on February 11. Such increases in circulating supply often challenge altcoins to regain their initial peak prices, as seen with DYDX and XRP Coin.
The Sandbox (SAND) is scheduled for a token unlock on February 14, with $205 million worth of tokens being released, which represents about 10% of its circulating supply. This sizeable release could result in double-digit price drops, particularly if trading volumes remain low and no significant demand emerges.
Additionally, the end of February will see an unlock event for OP Token valued at $76.5 million and an unlock for SUI Coin worth $54 million on February 3. These events may lead to increased market volatility and potential selling pressure as investors adjust their risk profiles.