3 Token Unlocks for the Second Week of April
Token unlocks play a pivotal role in the crypto market, impacting liquidity, price volatility, and investor sentiment. They are events in crypto where locked coins or tokens are released and become available for trading in the open market.
This week, three major projects—Axie Infinity (AXS), Jito Labs (JTO), and Xave (XAV)—will release previously locked tokens into circulation. Here’s what you need to know and watch for.
1. Axie Infinity (AXS)
- Unlock Date: April 12
- Number of Tokens to be Unlocked: 10.72 Million AXS (3.97% of Total Supply)
- Current Circulating Supply: 160.159 Million AXS
- Total supply: 270 Million AXS
Axie Infinity is a blockchain-based game featuring digital creatures called Axies, often compared to Pokémon. This pet-centric game combines elements of blockchain, NFTs, and ERC-20 tokens, offering players the chance to collect, battle, and trade unique creatures in a virtual world.
The April 12 unlock will consist of 10.72 million AXS tokens valued at about $29 million. Axie Infinity will award the majority of these tokens for staking rewards and for the team.
2. Jito Labs (JTO)
- Unlock Date: April 7
- Number of Tokens to be Unlocked: 11.31 Million JTO (1.13% of Total Supply)
- Current Circulating Supply: 313.37 Million JTO
- Total supply: 1 Billion JTO
Jito is a liquid staking service on Solana that distributes MEV rewards to holders. On April 7, Jito will unlock 11.3 million tokens which is currently worth around $20 million.
The project will allocate the majority of the unlocked tokens for ecosystem development, core contributors, and community growth. Additionally, it will allocate 10% of the tokens for airdrops.
3. Xave (XAV)
- Unlock Date: April 11
- Number of Tokens to be Unlocked: 313.29 Million XAV (3.13% of Total Supply)
- Total supply: 10 Billion XAV
Xave is a DeFi platform that focus on decentralized foreign exchange (FX) markets. It enhances stablecoin liquidity through an automated market maker (AMM) model.
On April 11, the network will unlock over 313 million XAV tokens, which constitutes just over 3% of the total supply. Xave will largely focus distribution to the team, investors, and treasury.
Other prominent token unlocks that investors can look out for this week include Delysium (AGI), Parcl (PRCL) and Circular Protocol (CIRX).
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