The first week of the new year will welcome $150.84 million in tokens to the market.

Token Unlocks, the leading tracker of locked tokens, has revealed details about upcoming unlocks for various crypto projects scheduled between now and January 7, 2024. Disclosure This sheds light on the significant value of $150.84 million worth of tokens that will hit the cryptocurrency market in the first week of the new year.

Leading the pack is the token of prominent decentralized exchange, dYdX (DYDX). According to market data, the dYdX team will release 33.3 million tokens on January 1, with a market value of $111.33 million at the time of writing. Notably, 33.3 million tokens represent 12.36% of the circulating supply.

Furthermore, Token Unlocks provides detailed information about the beneficiaries of the upcoming unlock event. Specifically, 61.74 million USD is for investors, while 34 million USD is for founders, employees, advisors and consultants. Additionally, prospective employees were allocated $15.59 million.

Distribution of DYDX tokens. Source: Token Unlocks

Another notable project with an unlock event in the first week of January is Galxe (GAL). The team plans to launch 3 million GAL on January 5, which currently has a market value of $7.03 million. Of that, $4.68 million was allocated to marketing, $975,000 to the project team and $1.37 million to the community.

Distribution of GAL tokens. Source: Token Unlocks

Other projects with token unlock deadlines in January include Acala (ACA, $3.04 million), Liquidity (LQTY, $1.02 million) and Tornado Cash (TORN, $172,330). Meanwhile, projects like Optimism (OP) and Sui (SUI) have unlock events scheduled for December 30 and 31, respectively. The Optimism team plans to issue more than $96 million in tokens OP and distribute them to core contributors and investors.

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