Token Unlocks 2022 Annual Report Estimate $102 billion worth of tokens will be unlocked in 2023.
The data points to $102.1 billion worth of tokens ending in lockdown in December 2022, with a fully diluted value (FDV) of $570.8 billion and a market cap of $468.7 billion. Dividing the market cap by he FDV, the report concludes that 82.1% of all fixed-supply tokens are already freely circulating in the market.
15 projects with the most significant estimated lock values
According to the report, 15 projects account for over 75% of all illiquid tokens. Of the top 15 largest estimated unlocks, 6 are still below $1 billion. By comparison, two are expected to be worth around $1 billion, and the remaining seven are worth over $1 billion.
The list shows that Ripple (XRP) ranks first with a total of $17.9 billion worth of locked tokens. Filecoin (FIL) and Optimism (OP) come second and third after XRP, with $4.9 billion and $3.7 billion in locked value respectively.
Chainlink (LINK), BitDAO (BIT), ApeCoin (APE) and STEPN (GMT) have also exceeded $1 billion. Hedera (HBAR) and Axie Infinity (AXS) are estimated to have about $1 billion worth of tokens locked.
Tokens unlocked so far
So far, four unlocks have released a total of $126 million worth of tokens to the market. BIT and APE are included in these four top 15 lists. BIT and APE released tokens worth $67 million and $28 million on January 15 and 17, respectively.
Although not included in the rankings above, Moonbeam (GLMR) was the first unlock of the year. That took place on January 11th, when he unlocked his GLMR token worth $15 million. On January 12th, Aptos (APT) also unlocked his $16 million worth of tokens.
The next unlock included in the list above will come from AXS on January 23rd and the project will release 4.8 million tokens worth $31 million.
Following AXS, GMT, and dYdX (DYDX) on the list, tokens will also be released during February. GMT is start We will unlock the linear lock on February 1st by releasing $588,608 worth of tokens per day. On February 3rd, DYDX release 150 million tokens, representing 15% of the total supply, worth approximately $195 million.
The next unlock on the list comes on May 31st and comes from OP, the project with the third highest estimated lock value.the project is release 154,618,822.65 3.6% of the total supply of OP tokens. The total unlocked value is expected to be approximately $253 million.
The last scheduled unlock in the top 15 was by Curve DAO (CRV). On August 14th, the project start Shortening the linear unlock period by releasing $411,902 worth of tokens per day.