The crypto market is always on the move, and this week is no exception. We’re expecting significant unlocks that could influence the market dynamics. We have selected four major unlocks to watch during this week:
1. Flow (FLOW)
Unlock date: January 16
Number of tokens unlocked: 2,600,000 FLOW
Current circulating supply: 1,482,285,260 FLOW
Flow is a blockchain platform designed to issue Non-Fungible Tokens (NFTs) and create gaming applications. Dapper Labs, the creator of the popular game CryptoKitties, developed the site. The Flow ecosystem is supported by leading sports organizations, including the NBA, UFC, and NFL. The project’s native token is used to pay commissions, execute smart contracts, operate the consensus algorithm, and as collateral for issued assets. Unlocked on January 16th, the coins are destined for Dapper Labs.
2. ApeCoin (APE)
Unlock date: January 17
Number of tokens unlocked: 15,600,000 APE
Current circulating supply: 368,593,750 APE
ApeCoin is the native token of Yuga Labs’ Ape ecosystem, which includes one of the most popular NFT collections, Bored Ape Yacht Club. Typically, APE reacts to unlocks by falling – however, given the renewed interest of users in non-fungible tokens in general and BAYC in particular, the next drawdown may not be so large.
3. Axie Infinity (AXS)
Unlock date: January 18
Number of tokens unlocked: 3,430,000 AXS
Current circulating supply: 134,610,804 AXS
Axie Infinity is one of the most famous Play-to-Earn projects created by the Sky Mavis studio. The game takes place in a virtual environment inhabited by creatures called “Axies”. The platform allows you to cross them, creating new characters. Players earn rewards by winning battles and selling axis.
The native token of the AXS platform is used to develop platforms and solve a number of other problems. The coins released on January 18th will be used as staking rewards.
4. Injective (INJ)
Unlock date: January 21
Number of tokens unlocked: 3,670,000 INJ
Current circulating supply: 84,255,555 INJ
Injective is an all-in-one platform for decentralized applications (dApps) that offers a wide range of financial products, including futures, perpetual swaps, and spot trading. The protocol is built on the Cosmos SDK and uses the Proof-of-Stake consensus algorithm based on Tendermint. The native INJ token gives holders voting rights in the DAO and also rewards liquidity providers, developers, and network validators. 3.67 million coins, which will be unlocked at the end of January, will go to the project team and advisors.
