ADA, APT, and TAIKO In Spotlight Ahead of Huge Token Unlock

Major token unlock events are scheduled for later this week that will feature Cardano (ADA), Aptos (APT), and TAIKO, among others

Cardano (ADA), Aptos (APT), and Taiko (TAIKO) are garnering attention as they prepare for an unusual token in the coming days. The token unlock process is scheduled to span from October 8 to October 14. The total unlocking value, including linear large amounts, has exceeded $451 million. 

Token Unlocks Per Profiled Chain

According to Token Unlocks, Aptos is leading the group with 11.31 million APT worth approximately $99.30 million set to be unlocked. 

This represents 2.25% of the token’s circulating supply. When the unlock eventually happens, it could impact the price of APT. About 12 million TAIKO will also be unlocked, an equivalent holding of $19.8 million. It represents 15.62% of the TAIKO circulating supply. 

According to TokenUnlocks, the single large-amount unlocking in the next 7d includes APT OP TAIKO XAI ADA, etc., and the linear large-amount unlocking in the next 7d includes SOL WLD TAO AVAX SEI NEAR DOT DOGE SUI FIL BEAM, etc. The total unlocking value exceeds $451m.… pic.twitter.com/VrajBvc76s

— Wu Blockchain (@WuBlockchain) October 7, 2024

Of the three altcoins, ADA has the largest number of tokens to be unlocked but the smallest dollar value.

Precisely 18.53 million ADA, valued at approximately $6.5 million, will be unlocked. These tokens correspond to 0.05% of the coin’s circulating supply. This is the smallest unlock listed by Token Unlocks. 

Cardano Recalls Major Improvements and Upgrades

Apart from this token unlock, Cardano has been in the spotlight for several other reasons. 

Less than two weeks ago, Input Output Global (IOG), ADA’s research and development team, celebrated its seventh anniversary. The network’s founder, Charles Hoskinson, leveraged the opportunity to highlight some of the blockchain’s major achievements since its inception.

This includes major upgrades such as Chang Hard Fork, which introduced decentralization to Cardano governance. IOG highlighted other achievements, such as publishing 226 research papers and 1,373 projects expanding on the blockchain. 

Last week, the public testnet of the Cardano Midnight Protocol went live, representing a crucial evolution for the network. The Midnight sidechain will enable developers to build and deploy Decentralized Applications (dApps) that prioritize privacy. 

It will also help cater to industries and individuals who require confidential transactions and data protection.

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