April 2021 is shaping up to be a volatile month for crypto markets with millions of tokens set to unlock from some of the biggest projects in DeFi, NFTs, and the metaverse. This includes dYdX, ApeCoin, Axie Infinity, the ByBit DAO, and the Ronin Network. ApeCoin will bring 15.6 million tokens onto the market, worth around $67 million at current prices. This is an amount equal to 1.56% of the total token supply, suggesting price action could be bearish in the short term. Axie Infinity has 3.9 million tokens worth $32 million set to unlock on April 17th, a volume representing 1.45% of the total supply.

The Aptos token unlock is scheduled for April 12, when 4.5 million APT tokens flood the markets with a current value of around $51 million. This is a fractional amount of 0.45% of the total token supply. Immutable X will be unlocking 18 million IMX tokens valued at $18.7 million on April 22. This amounts to 0.9% of the total supply.

It’s important for tokenholders to be aware of short-term volatility during unlocking periods. Despite many of the unlocking amounts being relatively small compared to the total circulating supply, some of the larger schemes could be liable to dump prices in the near term. It remains to be seen which markets will not be negatively impacted by the current wave of token unlocks.



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