Aptos and Avalanche dominate among $450 million in November token unlocks

Quick Take

  • Aptos, Avalanche and Hashflow are set for the most substantial token unlocks this month.
  • Aptos will see the largest value token unlock at around $173 million, while Hashflow is set for the biggest increase in its circulating supply at nearly 74%.

Crypto projects Aptos APT -4.31% , Avalanche AVAX +1.64% and Hashflow HFT -1.00% are set for the most significant token unlocks this month, releasing more than a combined $320 million worth of tokens into their circulating supplies — among a total of $450 million in November unlocks.

Layer 1 blockchain Aptos, founded by ex-Meta execs, will see the largest token unlock by value, according to TokenUnlocks. Aptos will release 24.8 million APT tokens on Nov. 12. This comprises 10% of its circulating supply and is worth approximately $172.9 million.

The majority, some $82.7 million, of the unlocks will go to core contributors, $58.6 million to investors, $22.3 million to the community and $9.3 million to the Aptos Foundation, TokenUnlocks data states.

Following the smaller release of 4.5 million APT tokens ($31.6 million) during its October unlock, the price of APT rose around 2% from $4.84 to $4.94 over the next seven days, according to CoinGecko. The token is currently trading at $6.93, up 43% since the last unlock amid bullish market conditions, despite a five-hour outage for the network last month.

APT/USD price chart. Image: CoinGecko.

Avalanche unlocks $107 million worth of tokens

Layer 1 blockchain Avalanche is also set for a substantial token unlock in November, releasing 9.5 million AVAX tokens on Nov. 24, per TokenUnlocks.

Representing 2.7% of circulating supply, the AVAX unlock is currently worth $106.9 million. Some $50.4 million will go to the project’s team, $25.2 million to strategic partners, $18.7 million to the Avalanche Foundation and $12.6 million set aside for a possible airdrop. This is in addition to the 100,000 AVAX ($1.1 million) released per day for staking rewards.

The AVAX token fell 12.5% from $10.04 to $8.78 within 30 days after Avalanche's last unlock on Aug. 26 released the same amount of tokens. AVAX is currently trading at $11.15, up 11% since that token unlock, coinciding with FriendTech rival Stars Arena fueling a transaction surge on the blockchain.


Keep up with the latest news, trends, charts and views on crypto and DeFi with a new biweekly newsletter from The Block's Frank Chaparro

By signing-up you agree to our Terms of Service and Privacy Policy
By signing-up you agree to our Terms of Service and Privacy Policy

AVAX/USD price chart. Image: CoinGecko.

Hashflow releases 74% of circulating supply

Multi-chain decentralized exchange Hashflow rounds out the top three November token unlocks by value, releasing 160.4 million HFT tokens on Nov. 7 — worth approximately $41.3 million. At 73.9% of its circulating supply, Hashflow represents the largest token release among crypto projects in November, according to TokenUnlocks.

Approximately $16.1 million will go to early investors, $12.7 million to ecosystem development and $12.4 million to the core team, with $107,000 allocated to community rewards. This is on top of around $44,000 worth of tokens currently being released per day for ecosystem development and community rewards.

Hashflow released 3.2 million HFT tokens ($830,000) last month, with the token price falling over 34% within two weeks before recovering. HFT is currently trading at $0.26, down 19% since its last token unlock.

HFT/USD price chart. Image: CoinGecko.

Other notable token unlocks in November include Optimism ($33.3 million), ApeCoin ($20.8 million) and Sui ($15.5 million).

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

James Hunt is a reporter at The Block, based in the UK. As the writer behind The Daily newsletter, James also keeps you up to speed on the latest crypto news every weekday. Prior to joining The Block in 2022, James spent four years as a freelance writer in the industry, contributing to both publications and crypto project content. James’ coverage spans everything from Bitcoin and Ethereum to Layer 2 scaling solutions, avant-garde DeFi protocols, evolving DAO governance structures, trending NFTs and memecoins, regulatory landscapes, crypto company deals and the immersive metaverse. You can get in touch with James on Twitter or Telegram via @humanjets or email him at [email protected].


To contact the editor of this story:
Tim Copeland at
[email protected]