$102 billion worth of tokens will be unlocked in 2023

The leader of the ranking became XRP with a volume of $17,9 billion

19.01.2023 - 12:55

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2 min

What’s new? TokenUnlocks has published a report on unlocking tokens in 2022-2023. According to analysts, assets totaling $102 billion will be unlocked in the market in 2023. The leaders in terms of volume will be Ripple (XRP) at $17,9 billion, Filecoin (FIL) at $4,9 billion, and Optimism (OP) at $3,7 billion.

Link to TokensUnlocks’ report

What else is known? The estimated value of 38 tokens unlocked until 2022 amounted to $95,4 billion. Last year, $25,3 billion worth of assets were unlocked, representing 24,6% of the total volume in previous years. About 82,1% of the volume of fixed-issue tokens is currently circulating on the market.

In addition to XRP, FIL, and OP, the top ten projects by the amount of unlocking also include (in billions of dollars):

Chainlink (LINK) — 2,9
BitDAO (BIT) — 2,5
ApeCoin (APE) — 2,3
STEPN (GMT) — 1,4
Hedera (HBAR) — 1
Axie Infinity (AXS) — 1
dYdX (DYDX) — 0,9

The report concludes with analysts noting that many of the projects that raised funding in 2021 will be cashing in their tokens to survive the bear market.

Earlier, Alex Svanevik, CEO of research firm Nansen, said that 2023 will be “a bloodbath” for crypto startups. He attributed this to the fact that most projects will run out of money after seed funding rounds in 2021-2022, and some will be bought by next year.

Venture capitalists invested $31,6 billion in crypto projects in 2021, and the figure rose to $37,7 billion in 2022. CeFi accounted for 14%, DeFi for 18%, NFT/GameFi for 16%, Infrastructure for 17%, and other Web 3.0 projects for 36%.

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