Unlocking of Over $75 Million Worth of DeFi Tokens in April

04/02/2023 13:05 • Blockchain Briefs • 123 views

On April 2nd, according to DeFiLlama data, in April, five tokens, APT, APE, DYDX, LOOKS, and GLMR, with a total value of more than $75 million, will be unlocked, including: 12.5 million LOOKS (valued at approximately $1825538) on April 10th, 378788 DYDXs (valued at approximately $935606) on April 11th, 3210145 APTs (valued at approximately $39.81 million) on April 12th, 7343750 APEs (valued at approximately $32.02 million) on April 16th And 1479167 GLMRs (valued at approximately $557102) on April 18.

Data: APT, APE, DYDX, LOOKS, and GLMR will unlock more than $75 million of tokens in April

As per DeFiLlama’s data, the month of April is bringing the unlocking of five notable DeFi tokens worth more than $75 million combined. The tokens set to be unlocked are APT, APE, DYDX, LOOKS, and GLMR.

What are the Five DeFi Tokens Set to be Unlocked in April?

On April 10th, there will be an unlocking of 12.5 million LOOKS tokens, worth approximately $1.82 million. LOOKS is a token that powers the Mirror Protocol, which allows the creation of fungible tokens backed by on-chain assets such as stocks or crypto assets.
On April 11th, there will be an unlocking of 378,788 DYDX tokens, worth approximately $935,606. DYDX is a decentralized exchange that enables users to trade futures, options, and margin contracts with up to 10x leverage.
On April 12th, an unlocking of 3,210,145 APT tokens, valued at approximately $39.81 million, will take place. APT is the governance token of Alpha Finance Lab, a DeFi platform that enables the creation of new investment products such as AlphaX, a yield farming platform.
On April 16th, 7,343,750 APE tokens, valued at approximately $32.02 million, will be unlocked. APE is the governance token of ApeSwap, a Decentralized Exchange (DEX) that operates on the Binance Smart Chain network. ApeSwap allows users to trade, farm, and stake cryptocurrencies.
Finally, on April 18th, there will be an unlocking of 1,479,167 GLMR tokens, valued at approximately $557,102. GLMR is the governance token of Glimpse Protocol, a DeFi platform that provides privacy solutions for Ethereum-based smart contracts.

What are the Impacts of these Unlockings?

Unlocking tokens often has an effect on their price and market capitalization. If a large number of tokens are unlocked on the market at once, there is a possibility that the supply will exceed the demand, which can lead to a drop in token value.
However, whether the unlocking of these tokens will have an impact on the overall DeFi market is yet to be seen. The DeFi market has been growing in popularity in recent years, with numerous new DeFi platforms and services launching every month.

Conclusion

The unlocking of the five DeFi tokens in April is a significant event in the crypto world, as it can affect the price of these tokens and the DeFi market as a whole. With DeFi offering an array of innovative financial products and services, it is expected that DeFi will continue growing, opening up countless opportunities for investors, developers, and entrepreneurs.

FAQs

**1. What is the DeFi market?**
The DeFi market refers to a decentralized finance market that provides financial services such as borrowing, lending, and trading using decentralized platforms built on blockchain technology.
**2. What are the risks associated with investing in DeFi tokens?**
DeFi is still an emerging market, and investing in DeFi tokens can be risky, as the market is highly volatile and unpredictable. Investors should always do their research and understand the risks associated with investing in DeFi tokens.
**3. Can DeFi tokens be used for other purposes besides trading?**
Yes, DeFi tokens can be used for various purposes beyond trading, such as staking, governance, and yield farming. DeFi platforms provide lots of opportunities for DeFi token holders to earn rewards while helping to secure the network.

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