During the course of this week, more than $450 million worth of tokens will be released into the open market. And, it is worth looking to see how the prices of these tokens will impact the crypto market, which is at extreme fear levels.
In this token unlock article, we will be focussing on three tokens, LayerZero, ALTLayer and Plume network.
LayerZero is an omnichain messaging protocol designed to carry information between blockchains. It is a permissionless and open framework. It empowers any application to bring its own security, execution, and cross-chain interaction, providing a predictable and adaptable foundation for decentralized applications living on multiple networks.
LayerZero will unlock more than 24 million ZRO tokens today in three rounds, which is worth about $34 million. With this unlock, the total amount of ZRO tokens unlocked will hit 40% while the rest of the total supply of 1 billion tokens will be unlocked by 10% every month.
ALTLayer to unlock 50% of total supply
ALTLayer is a protocol that aids in launching native and restaked rollups with both optimistic and zk rollup stacks. Native roll-ups are those that are directly built on top of the layer 2. A restaked rollup uses a rollup architecture for scaling and uses restaked assets (or a restaking protocol) to provide additional economic security, faster finality, more decentralization, and other enhancements.
ALTLayer will unlock more than 240 million ALT in the next 5 days, which is around 2.4% of the total supply. With this unlock that comes in the latter end of November, 50% of the ALTs tokens will be out in the open market. The 240 million tokens to be unlocked will be worth $3.5 million.
Plume Network to unlock more than 100 million
Plume Network is a public blockchain that is EVM-compatible and made for tokenizing real-world assets. Plume is more than just tokenizing real-world assets; it also facilitates crypto-like usage. You could stake, swap, lend, borrow, loop, etc.
With the launch of the next batch of tokens tomorrow, the total supply unlocked will hit 30%. The 108.3 million tokens unlocked tomorrow are worth about $3 million.
With changing market dynamics, where the crypto traders are migrating from Bitcoin to altcoins, these token unlocks will give the edge over other altcoins.
