Tokens $588M worth of unlocks scheduled for February $588M worth of unlocks scheduled for February Zeynep Geylan · 4 hours ago · 2 min read 17 projects, including 1inch, Tornado Cash, Moonbeam, ApeCoin and Aptos will unlock a portion of their tokens throughout the month.2 min read Updated: February 1, 2023 at 9:29 am Cover art/illustration via CryptoSlate Token unlocks are scheduled for February will release $588.4 million worth of tokens into circulation, according to data from Token Unlocks.1inch (1INCH), Moonbeam (GLMR), Aptos (APT), ApeCoin (APE), and Tornado Cash (TORN) are among the 17 projects scheduled their unlocks throughout the month, according to Token Unlocks.Top three largest unlocks The Sandbox’s (SAND) unlock, scheduled for Feb.14, will be the most valuable of the month.The project will release 12.419% of its total supply, which equates to over 372 million SAND tokens, valued at around $266 million.BitDao (BIT) will host the second most valuable unlock of the month on Feb.15 by releasing 187 million BIT tokens into circulation, which equates to $97 million.
Finally, APT’s unlock, expected on Feb.12, will release $75 million worth of APT tokens into circulation, marking the third largest unlock of the month.
Other unlocks by date First unlock of the month will come from 1INCH on the first day of the month.The project will release 64,286 tokens into circulation, priced at $32,566.Galxe (GAL), NYM, and X2Y2 will follow 1INCH with their unlocks scheduled for Feb.2, 3, and 4, respectively.GAL will release $436,538 worth of tokens, while NYM and X2Y2 will unlock $23 million and $5 million, respectively.
X2Y2’s unlock will take place on a daily basis, releasing $109,964 worth of tokens per day.On Feb.6, TORN will release 175,000 tokens, valued at just above $1 million.
Four days later, on Feb.10, GLMR will add another $1.3 million into circulation by releasing 3 million tokens.GLMR will release $90,396 daily until the total unlock amount is reached.SweatEconomy’s (SWEAT) release start on Feb.13, following GLMR and will release a total 129 million tokens valued at $1.9 million, by unlocking $97,116 worth of tokensper day.dYdX (DYDX) and Euler scheduled their unlocks for Feb.
14 and 15 and are expected to release $19 million and $496,792 worth of tokens, respectively.APE’s unlock is scheduled for Feb.17, and will release $42 million worth of APE tokens into circulation.Acala (ACA) and ImmutableX (IMX) both scheduled their unlocks for Feb.25 and are set to release $615,996 and $13.2 million worth of tokens, respectively.IMX’s total unlocked amount will be released partially, with $485,245 every day.
The last unlocks of the month will come from Ronin and Yield Guild Games (YGG), which are scheduled for Feb.27.
Ronin will release 4.154% of its total supply, which equates to $32.9 million, while YGG will unlock $5.1 million worth of tokens.Validators shut down as Secret Network struggles with leadership Liam ‘Akiba’ Wright · 5 hours ago · 2 min read Secret Foundation founder, Tor Bair, accused of taking ‘six figure’ dividends 2 min read Updated: January 30, 2023 at 12:29 am Cover art/illustration via CryptoSlate SmartStake, a major validator in the Cosmos ecosystem, has announced that it will shut down its nodes following revelations around the Secret Foundation’s founder, Tor Bair, personally taking profits.Validator exodus The validator cited “complex/stressful validator operations… cost/effort of validator ops… recent events” as the reasons for shutting down its service.
Smartstake further stated “Please note that the shutdown will be graceful and there will be no slashing for any of the delegates.” NotionalDAO, another Cosmos validator, has echoed SmartStake’s statement with CEO, Jacob Gadikian, confirming that “NotionalDAO will not be bringing up its node again, in solidarity with SmartStake.” Secret leadership conflict The allegations against Bair were revealed on Jan.
27 via the foundation’s governance forum.Guy Zyskind, the founder of Secret Labs, posted the statement in which the allegations were made public.Zyskind disclosed that “Secret Foundation sold a substantial amount of USD worth of SCRT.” In addition, “Tor cashed out a significant portion of these proceeds… as a dividend.” These actions were not disclosed to the community, with roughly $4 million withdrawn in Q4 2021 alone.The resulting plan proposed by Zyskind was to dissolve the Secret Foundation by returning stakes to the community and reforming a new foundation under new leadership.
The new organization will “maintain a transparent and audited activity…[and]… it will submit annual funding requests to the chain with a clear budget, milestones, and asks.” Further, the post ended with Zyskind looking to the future of Secret Network; “As a final note, we’d like to say that while we raise and acknowledge these concerns, we are at the same time very optimistic about the future.The Secret community is well-equipped to address the necessary changes, and this restructuring will help the platform reach new heights as we work towards our Secret 2.0 vision.“ Bair’s version of events Bair also announced the same governance forum stating that the withdrawals were simply part of his vested tokens.The Secret Foundation founder said he began earning a salary in 2021 and vesting “a portion of my tokens” by December.
He continued to confirm that he made an “OTC sale of SCRT tokens,” converting tokens to USD and holding the stablecoins with the foundation to use to pay him a dividend.He further disclosed he had 375,000 SCRT in vested tokens and received a dividend of $2.625 million and claims that.“This information is verifiable in our 2021 tax filings, which have been previously reviewed by Labs, and I have previously disclosed this information to them.” Bair seemingly through his hat in the ring as he disclosed that “the time has come for change,” yet he has “communicated privately and publicly on multiple occasions about my desire to be a part of that change.” In direct response to allegations made by Zyskind, Bair commented; “This allegation is false.We’ve previously published our disclosure on that event, which is available on this forum.” A debate continued to wage within the comments, and on Twitter, as to whether the community believes there has been malpractice or whether people are more concerned that Bair appeared to have sold the top at over $7.As of press time, Secret Networks, SCRT is trading at $0.80, almost 90% lower than Bair’s sale price.
Justin Sun aims to get TRON adopted as legal tender in 5 nations by 2023 Monika Ghosh · 2 hours ago · 2 min read Sun said that getting TRON adopted as legal tender across countries could boost the cryptocurrency’s usage and cause its value to increase.2 min read Updated: January 29, 2023 at 2:08 pm Cover art/illustration via CryptoSlate Tron founder Justin Sun aims to get TRON (TRX) accepted as legal tender in 5 countries this year.In a Twitter thread, Sun said that while the goal is “ambitious,” he is “confident” that it can become a reality.In a separate Twitter thread, Sun said it is important to look beyond the U.S.to get TRX adopted as legal tender.He wrote: “The US is just one country, and while it may be a major player in the crypto world, it’s not the only one.” Sun acknowledged the importance of U.S.crypto regulations and said that if the rest of the world adopts TRON as legal tender, the U.S.
will eventually follow suit.Therefore, he said it is important to work on a global scale and build partnerships with governments and businesses worldwide.St.Maarten eyeing TRX as legal tender In October 2022, the Commonwealth of Dominica adopted TRX and six other Tron-based cryptocurrencies as legal tender.Earlier this week, a member of parliament proposed a law that, if passed, would make Tron legal tender in the eastern Caribbean island nation of St.Maarten.In line with Dominica, the St.
Maarten draft law proposes adopting Tron as the national blockchain of the country.How adoption as legal tender will help TRON According to Sun, adopting TRX as legal tender across countries will increase the cryptocurrency’s “legitimacy and usage.” He wrote: “When a government recognizes a digital currency as legal tender, it gives a sense of trust and security to the general public, making it more likely to invest and use it.” Moreover, as a legal tender, TRON will become a valid means of exchange in the country.
This would encourage more businesses to start accepting TRX as a means of payment, which in turn will boost the cryptocurrency’s usage, Sun explained.He said that government recognition as legal tender would make it easier for businesses and individuals to transact with TRX, leading to broader adoption.The increasing adoption will not only “benefit the entire ecosystem” but also boost the demand for TRX, causing its price to increase, Sun wrote.Blur, the non-fungible token (NFT) marketplace, has seen a significant increase in volume since its launch in October.According to statistics from Dune Analytics, Blur has captured about 30% of the market share in terms of sales volume.The NFT marketplace leader, Opensea, commands 48% of the market share.Blur NFT Marketplace Captures 30% of Market Share in Sales Volume An NFT marketplace called Blur has seen an increase in market share over the past 30 days.
According to statistics from Dune Analytics, Blur holds 30% of the NFT market’s total market share.Crypto market participants believe Blur’s rise is associated with the upcoming launch of its native token, originally scheduled for January 2023 but delayed, according to a statement from the team.The token is now set to be released on Feb.14, 2023.“We know this is past our initial estimate of January and we’re sorry for the delay,” the platform tweeted on Thursday.“We’re trying new things and the extra two weeks will allow us to deliver a launch that hasn’t been done before.” Seven-day metrics from dappradar.com indicate that Blur has recorded $33.06 million in NFT sales.The marketplace is the second-largest in terms of total sales this week, behind Opensea‘s weekly sales of $112.89 million.Twenty-four-hour statistics indicate that Blur’s sales over the last day totaled $5.08 million, compared to Opensea’s $16.24 million.
Blur’s rise is similar to that of the Looksrare NFT marketplace, which saw an increase in users when it decided to airdrop 120 million LOOKS tokens, or 12% of the total supply, to the Looksrare community in 2021.The incentive to acquire airdropped tokens fueled Looksrare’s sales volumes, and during the fourth quarter of 2021, the NFT platform managed to capture significant volumes alongside Opensea.In January 2022, Looksrare surpassed Opensea’s daily volumes for a short period.Since then, Looksrare dropped from the second-leading NFT marketplace in sales down to the fifth position today.
In terms of all-time sales, Blur has captured $458.05 million in sales since its inception.The NFT marketplace Blur is ranked 11th in terms of all-time sales.It is below NFT markets such as Magic Eden’s $2.07 billion, Looksrare’s $1.69 billion, and X2Y2’s $1.07 billion.However, it has surpassed the all-time sales recorded by the NFT markets Wax Atomicmarket ($441.42 million), Immutable X Marketplace ($387.11 million), and Rarible ($301.95 million).
Tags in this story Airdrop, All-time sales, Blur, Blur marketplace, Blur NFT, Blur NFT Marketplace, Crypto, dappradar.com, Delayed, Dune Analytics, increase, launch, leader, looksrare, market participants, Market Share, Marketplace, Native Token, nft, NFT Blur, NFTs, Non-fungible Token, Non-fungible tokens, Opensea, sales, seven-day metrics, Statistics, Tokens, volume What do you think will be the impact of Blur’s native token launch on the NFT market? Will Blur continue to rise in market share and sales volume, or will it face competition from other players in the industry? Share your thoughts in the comments below.Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida.Redman has been an active member of the cryptocurrency community since 2011.
He has a passion for Bitcoin, open-source code, and decentralized applications.
Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only.It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.Bitcoin.com does not provide investment, tax, legal, or accounting advice.
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