[ccpw id="39382"]

HomeCrypto NewsMarketDYDX, OP, HBAR, and 6 Other Projects to Release Millions of Dollars Worth of Tokens This Week

DYDX, OP, HBAR, and 6 Other Projects to Release Millions of Dollars Worth of Tokens This Week


Data shows that a large number of tokens are about to hit the crypto industry in a significant unlock event.

- Advertisement -

Recently, prominent Chinese reporter Colin Wu revealed that tokens from mainstream crypto projects will go into circulation this week.

He announced this development in a recent tweet. Wu highlighted nine crypto projects set to release millions of dollars worth of their native crypto within the next seven days.

The mentioned projects include the decentralized exchange dYdX (DYDX), Ethereum layer-2 scaling solution Optimism (OP), and Hedera Hashgraph network (HBAR), a distributed ledger technology.

- Advertisement -


Notably, Wu cited Token Unlocks as the source of the update. Token Unlocks is a dashboard that uses on-chain data to track vested tokens and notify of unlock events. 

The Nine Tokens

According to the site, dYdX will unlock 6.52 million DYDX coins, representing 3.76% of its circulating supply. These tokens have a current market value of $14.08 million. The 6.52 million coin will hit the market on August 29. It is worth mentioning that dYdX has 75% of its tokens locked.

- Advertisement -

Similarly, Optimism will release 24.16 million OP tokens worth $35.55 million. Optimism’s unlocking event is going live within the next 48 hours. The project so far has unlocked 17% of its token, 26% locked, and 57% untracked.

On the other hand, the Hedera network is releasing a more significant number of its tokens, per the update. The project will unlock 1.15 billion HBAR worth $64.05 million on September 1. 

At the moment, Hedera has already unlocked 59% of its tokens, with only 3% under keys. Following the 1.15 billion HBAR going live on Friday, only 115 million tokens will be left to unlock.

Other crypto projects pushing out massive tokens within the next seven days include Polkadot blockchain, DeFi platform Acala network (ACA), crypto mixer Tornado Cash (TORN), SUI, EUL, NYM, and 1INCH.

While some consider the unlock event a good opportunity to accumulate the tokens, others express concerns. 

Follow Us on Twitter and Facebook.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Abdulkarim Abdulwahab
Abdulkarim Abdulwahabhttp://thecryptobasic.com
Abdulkarim Abdulwahab is a blockchain writer with a specific interest in journalistic writing. He covers breaking events in the crypto community and blockchain industry. Over the past year, he has published over 1,500 short-form and long-form content for Web3 publishing firms.

More from Author