Beware of GAL Coin and These 7 Cryptos: They Will Flow to the Market in 2024!

As we enter the new year, the crypto market is gearing up for a massive influx of liquidity, with over $150 million worth of tokens scheduled to launch in the first week of 2024. Token Unlock, a major follower of locked tokens, has revealed details of various crypto projects that will launch their tokens between now and January 7, 2024. Among them are cryptocurrencies such as GAL coin, dYdX. Here are the details...

DYDX to unlock $111 million

Leading the way in this token unlocking fantasy is the decentralized exchange powerhouse dYdX (DYDX). According to market data, the dYdX team is set to launch a staggering 33.3 million DYDX tokens on January 1, representing a market cap of $111.33 million at the time of writing. This significant release accounts for 12.36% of dYdX's circulating supply, making it a focal point for investors and enthusiasts alike.

Token Unlock has provided information regarding the distribution of unlocked DYDX tokens. Investors in the project received $61.74 million, while $34.00 million was allocated to founders, employees, consultants, and advisors. In addition, a sum of $15.59 million has been set aside for future employees who demonstrate a strategic approach to incentivizing and retaining talent in the dYdX ecosystem.

Loaded unlocks for GAL Coins and ACA

Aside from dYdX, other noteworthy projects are also set to unlock tokens in early January. Galxe (GAL) is scheduled to issue three million GAL tokens on Jan. 5, with a current market cap of $7.03 million. The distribution plan for GAL includes $4.68 million for marketing efforts, $975,000 for the project team, and $1.37 million for the community, demonstrating a diverse and deliberate allocation strategy. Acala (ACA) is another project on the unlocking radar, where tokens worth $3.04 million will be released. Liquidity (LQTY) is following this project by unlocking $1.02 million in tokens, and Tornado Cash (TORN) is adding $172,330 to the growing pool of unlocked assets.

### Calendars should be marked for optimism and SUI

While the first week of January promises significant token unlocks, it's worth noting that projects like Optimism (OP) and Sui (SUI) have unlock events scheduled just before the end of the year. Optimism plans to launch $96 million worth of OP tokens on Dec. 30 and distribute them among core participants and investors. Simultaneously, Sui will unveil its tokens on Dec. 31, contributing to the crypto wealth that will permeate the market as the year draws to a close.

As a result, the start of 2024 will witness a flurry of token locks injecting significant value into the crypto space. As these projects unfold, the market anticipates the impact on prices, investor sentiment, and the broader dynamics of the ever-evolving cryptocurrency landscape.

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