Cardano, Jito, and Aptos set for $700M token unlock this month
Key Takeaways
- Cardano, Jito, and Aptos will release nearly $700 million worth of tokens in December.
- Jito’s release is the largest, with 135.71 million JTO tokens scheduled for December 7.
Share this article
Multiple crypto projects are set to release tokens in December, with Cardano (ADA), Jito (JTO), and Aptos (APT) scheduled for approximately $700 million token unlock, according to data from Tokenomist.
18.53 million ADA tokens
Cardano will release 18.53 million ADA tokens on December 4, valued at approximately $20 million. The tokens, representing less than 0.1% of circulating supply, will go toward staking and treasury funding reserves.
ADA has risen 8% in the past week and surged 198% over 30 days, trading above $1 for the first time in more than two years, according to CoinGecko data.
135.71 million JTO tokens
Solana-based Jito faces the largest unlock, with 135.71 million JTO tokens worth about $521 million scheduled for December 7. The release, representing roughly 103% of circulating supply, will be distributed to core contributors and investors.
JTO reached $3.9 during the week and currently trades at $3.8, up 4% in 24 hours.
11.31 million APT tokens
Aptos will unlock 11.31 million APT tokens on December 11, worth approximately $153 million at current prices. The tokens, about 2% of the circulating supply, will go to the foundation, community, core contributors, and investors.
Other significant token unlocks
Neon (NEON) is set to unlock 53.91 million tokens, which account for approximately 45% of its circulating supply, on December 7.
On December 14, Polyhedra Network (ZKJ) will release 17.22 million ZKJ tokens, representing about 28.5% of its circulating supply.
Space ID (ID) is set to unlock 78.49 million ID tokens on December 22, which constitute approximately 18% of its circulating supply.
Token unlocks often lead to increased volatility in the market, especially when large amounts of tokens are released.
For instance, Celestia’s TIA token dropped below $5 after a substantial $1 billion token unlock on October 30. However, it has recently rebounded, surpassing $6 last week and currently trading around $8.
While token unlocks can create immediate supply pressure and volatility, their long-term effects will largely depend on market conditions.
Share this article
Go to Source
Author: Vivian Nguyen
