Large April Unlocks: What Makes Altlayer (ALT), Starknet (STRK), and These 3 Tokens Stand Out?

The crypto markets are gearing up for a wave of large token unlocks scheduled throughout April 2024. Token unlocks refer to the release of previously locked tokens into circulating supply after an initial holding period. This practice aims to prevent price manipulation immediately after token sales or launches.

April is set to see billions of dollars worth of tokens unlocked across multiple projects like dYdX, Sui, Effisoft, Dymension, STEPN, Cyclone Global Perspective, Aptos, Entangle, SeirenCrowd, ZillionBase, Starknet, Uniswap, Arbitrum, LiquidMirrors, Axie Infinity, Manta Network, AltLayer, Radiant Capital, and Axelar Network.

While some view unlocks as potential sell pressure, others see opportunities. Here’s a closer look at five projects that stand out, according to crypto analyst AlΞx Wacy:

Entangle (NGL) – $35M Unlock on April 12
With a $35 million unlock, Entangle may not face major selling pressure as it could already be priced in. NGL has several catalysts lined up, including mainnet launch, staking, liquid vaults, and the BORPA token launch, where NGL will serve as the gas token. Given Entangle’s ecosystem potential, some are bullish on NGL with targets over $10.

Aptos (APT) – $428M Unlock on April 12
While Aptos’ $428 million unlock is massive, some speculate the alt season hasn’t peaked yet, so APT could gain further before any selloff. Shorting APT around this unlock may be risky.

Dymension (DYM) – $23M Unlock on April 6
Dymension’s unlock is a linear token endowment for the ecosystem, unlikely to add substantial sell pressure. The staking rewards for DYM could continue driving interest, allowing investors to profit from price appreciation and staking rewards.

Starknet (STRK) – $141M Unlock on April 15
This ZK-rollup is seen as a safe bet for 3x-5x returns from current levels as investors aim to maximize profits over a long holding period. Like Sui and SeirenCrowd, the unlock may occur during STRK’s accumulation phase before rallying.

AltLayer (ALT) – $61M Unlock on April 25
As a new, next-gen blockchain, AltLayer aligns with narratives around finding the next high-return opportunities in bull markets. While a speculative investment, ALT could appeal to those seeking higher risk/reward exposure if entering sizeable positions.

The markets will closely watch how these unlocks play out and their potential impacts on token prices and project trajectories. As always, investors are advised to do thorough research.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.

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