While the Token Su follow accuses a correction of 26 % since its last price record at the beginning of January, a metric could come to accentuate this phenomenon: an important UNLOCK of Tokens. Discover the most important tokens releases in February.
SU: More than $ 300 million tokens will be released in February
While many hypes surrounded the Blockchain SU during the year 2024, the attention of the community around this project seems to have gradually diluted in favor of other Crypto initiatives.
Indeed, the SUP Blockchain ecosystem still relatively young, still struggles to find investors. For its part, the course of the token sui records a 26 % correction Since his last price record (ATH) at the beginning of January.
While some investors could start to question their convictions about this cryptocurrency, a metric will come and accentuate the token offer: a unlock representing 313 million dollars in suiswriting these lines.
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Overview of Progressive Unlocks Tokens for the Su
This unlock of Tokens, which must occur on February 1, is however to be put into perspective. Indeed, it represents “only” 2.67 % of the Total Country Capitalization of the Suit, which is currently increased to $ 11.75 billion.
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The other 5 one to watch in February
Although the UNLOCK DE AU is the most substantial in February, other Unlocks will be monitored, especially for tokens JTO, MOVE, SAND, APT and ARB ::
The Token Unlocks to monitor in February
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Jito Labs (JTO)
- Quantity : 11.31 million JTO tokens;
- Value (28/01): $ 32.94 million;
- Quantity released from the supply in circulation: 3.92 %.
The Jito protocol is a key infrastructure of the Solana ecosystem, focused on transactions optimization and the capture of the extracted value of the blocks (MEV). Concretely, Jito users deposit their soil in stations on the platform and receive “jitosol”, who report an additional return compared to traditional soil stoking, and this by operating the extraactable value value.
According to Defillama data, the Jito protocol is the most important in terms of total locked value (TVL) on the Solana ecosystem with more $ 3.6 billion in TVL.
While during December, Jito doubled his supply in circulation, the project is about to release, to a lesser extent, 11.31 million JTO tokens on February 7.
This unlock represents, to the writing of these lines, near 33 million dollars for 3.92 % supply released from Jito market cap.
Over the past year, the course of the Token JTO recorded an honorable performance of 39 %.
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Movement Labs (Move)
- Quantity : 50 million tokens move;
- Value (28/01): $ 35.89 million;
- Quantity released from the supply in circulation: 2.16 %.
The Movement project, developed by Movement Labs, aims to create a network of modular blockchains based on Move language, initially developed by Facebook. Supported by the launch of Son Layer 2 m2 and the creation of its own M1 blockchain, Movement Labs offers tools, frameworks and open source protocols to develop Move language in the web3.
Since its airtop in December, Movement Labs releases each month 50 million tokens move. To the writing of these lines, this represents almost $ 36 million with 2.16 % quantity released from the supply in circulation.
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With an excess of speculation following the launch of the token, the course of the Move rose up to $ 1.45. He has been accusing a significant correction of around 50 % compared to his ATH.
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Aptos (Apt)
- Quantity : 11.31 million tokens Apt;
- Value (28/01): $ 86.17 million;
- Quantity released from the supply in circulation: 1.97 %.
Aptos is a Layer 1 blockchain, also based on Move language. With a theoretical capacity of 100,000 transactions per second (TPS) and a latency below the second, Aptos defines itself as the ” The safest and most scatular blockchain ».
In the same way as for the Movement Labs project, Aptos freely frees the same quantity of his cryptocurrency: 11.31 million tokens Apt will be released on February 12.
This unlock still represents more $ 86 million for 1.97 % quantity released Compared to the supply in circulation, since the project market cap is brought to approximately $ 4.4 billion.
Although the Aptos project is in the top 40 of the most capitalized cryptocurrencies, the token struggles to convince investors. Indeed, unlike its main competitor SU, the crypto Apt has not made a new ATH for more than 2 years.
The course of the Token Apt is currently evolving at – 62 % of its ATH.
The Sandbox (Sand)
- Quantity : 205.59 million Sand tokens;
- Value (28/01): $ 107.96 million;
- Quantity released from the supply in circulation: 8.4 %.
The Sandbox is a web3 video game platform, of the Metaversse type, which allows its users to create, own and monetize virtual experiences on the blockchain.
The platform is based on 3 pillars: the creation of content via tools like Voxedit, the sale and exchange of virtual land (LAND) on its marketplace, and the monetization of experiences with the Token Sand.
Although the metovers has known its hour of glory during the previous bullish cycle, the cryptocurrencies linked to this ecosystem are today much less at the center of attention as the price of token Sand proves:
Graph representing the evolution of the price of the sand
The Token Sand is currently exchanging around $ 0.5, 94 % compared to its $ 8.4 ATH.
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On February 14, The Sandbox will release 205.59 million Sand tokens, which represents 8.4 % quantity released from the current supply for valuation at almost $ 108 million.
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Arbitrum (ARB)
- Quantity : 92.63 million tokens arb;
- Value (28/01): $ 59.3 million;
- Quantity released from the supply in circulation: 2.13 %.
Arbitrum is a scalability solution devoted to Ethereum blockchain. Its technology is based on an improved version of Optimistic Rollups, initially developed by the team behind the development of Optimism.
As with Move and Aptos projects, Arbitrum frequently appears in the most important monthly unlocks. Indeed, Each month, 92.63 million tokens ARB are released by the project.
The unlock that will occur on February 16, will represent 2.13 % of the Market Cap du Token Arb, or $ 59.3 million.
As for the token arb, it displays mixed performance, on several time horizons:
Graph representing the course of token arb
Although many projects have planned to release tokens in February, 2 are likely to hold our attention: that of The Sandbox and that of Su.
Indeed, the UNLOCK of Tokens Suis, which represents more than $ 300 million, could accentuate the selling pressure of the cryptocurrency, which is found in a certain way at the crossroads between an upcoming return to its ATH or a deeper correction.
The UNLOCK of Tokens of The Sandbox, although less substantial in terms of dollars, represents an important level compared to the supply currently in circulation with 8.4 % of the Market Cap which will be released.
It will therefore be interesting to carefully observe the repercussions that these unlocks will have on the courses of these cryptocurrencies.
Source: Cryptorank
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Passionate about the blockchain ecosystem, I like to deepen my knowledge and share my discoveries. In perpetual quest to learn more about cryptos, I recently joined the Cryptoast Research team where I provided a weekly fundamental analysis.
Théo Zananiri
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