November Sees Substantial Token Unlocks Including SUI, IMX, HFT, APT, APE, AVAX, OP

According to CryptoPotato, the market is preparing for another month of significant token unlocks, with over $10 million worth of tokens unlocked in November. These include SUI, IMX, HFT, APT, APE, AVAX, OP, and others, with nearly $400 million worth of assets set to enter circulation following the unlock events.SUI is the first token to be unlocked this month on November 3rd, with 34.62 million SUI worth around $15.9 million allocated to the Community Access Program. Aptos, the layer 1 blockchain developed by former Meta executives, will see 24.8 million APT tokens released on November 12th. Core contributors, investors, the community, and the Aptos Foundation are all set to receive portions of this release.ApeCoin (APE) is scheduled for November 17th, with 15.60 million APE tokens worth around $121.22 million being unlocked. Avalanche's native token, AVAX, is also preparing for a token unlock on November 24th, with 9.54 million AVAX tokens valued at around $9112.50 million set to be released. Optimism (OP) is the last token to be unlocked this month, scheduled for November 30th, with 24.16 million OP tokens worth approximately $34.31 million.A token lockup, often referred to as a vesting period, is a specific duration during which tokens cannot be traded or converted into cash. The length of this lockup period is determined by the team's chosen strategy and can last several years in some cases. As a result, the introduction of crypto tokens typically increases selling pressure on the assets, influenced by both the number of unlocked tokens and their entry into cryptocurrency exchanges. Historically, previous token unlocks have also shown increased downward pressure as new tokens enter the market. However, with the market's recovery, a massive drawdown is not expected.