Token Unlocks Worth $325.6M Coming in Second Week of September
The second week of September will see several major token unlocks that could influence market volatility and short-term price movements. According to KuCoin, a total of $325.6 million worth of tokens will be released during this period. Three projects, Aptos (APT), Linea (LINEA), and Cheelee (CHEEL), are set to unlock new token supplies on September 11, 10, and 13, respectively.
Aptos, a Layer-1 blockchain platform designed for scalability and security, will release 11.31 million APT tokens worth $7.09 million. This represents 0.65% of the released supply. The team will award 3.96 million APT to core contributors, while the community and investors will receive 3.21 million and 2.81 million tokens, respectively. Additionally, Aptos will allocate 1.33 million tokens to its foundation.
Linea, a zkEVM Layer-2 scaling solution for Ethereum (ETH), will unlock 960.13 million LINEA tokens valued at approximately $2.75 million on September 10. This represents 3% of the released supply. The network will keep 480.07 million tokens for Linea Consortium and another 480.07 million for Linea Consortium (Ignition).
Cheelee, a SocialFi hybrid platform that rewards users with LEE tokens for watching short videos, will release 6.42 million CHEEL tokens worth around $2.24 million on September 13. The team will keep 3.4 million tokens for the reserve fund and assign 2.78 million to the team. Advisors will receive approximately 208,330 altcoins.