Token Unlock, a platform that uses on-chain data to track token holders and notify users of upcoming unlock events, issued a 2022 annual report today shows the highest approximate token value locked per current market price.
The report shows 15 tokens (such as XRP, Filecoin, Optimisme, Chainlink, BitDao, ApeCoin, STEPN, Hedera, Axie Infinity, dYdX, ENS, Kadena, Curve DAO, PancakeSwap, and GALA) more than 75% of the total illiquid. tokens.
Of the 15 largest estimated unlocks, two are relatively equal to $1 billion while seven are worth more than a billion, and six remain below $1 billion in value, as shown in the figure below.
According to the report, XRP is now the top token locked. The report shows about $17.9 billion worth of XRP is still locked in the XRPL protocol. The report indicates that these tokens will be released over time at fixed intervals.
According to the report, Filecoin and Optimism are the second and third highest locked value tokens after XRP, respectively holding $4.9 billion and $3.7 billion in locked value.
The report also ranks Chainlink, BitdAO, ApeCoin, and STEPN above the $1 billion mark, with Hedera and Axie Infinity around $1 billion in locked tokens, as shown above.
The report determined that December 2022 ended with $102.1 billion worth of tokens locked in, with a market cap of $468 billion and a Fully Diluted Value (FDV) of $57.8 billion. The report further states that 82.1% of all tokens with fixed supply are ready for free circulation in the market.
Crypto Token Will Launch In 2023
The annual report identifies XRP as the token with the highest unlocking potential this year. Since XRP has a value of $17.9 billion locked in tokens, which is set to enter the market, it will unlock more than four times more tokens than the second ranked token, Filecoin.
The report expects Filecoin to unlock $4.9 billion in tokens by 2023. The report shows the potential of various projects to unlock tokens to the market this year. The document describes the spread of tokens to enter the market, estimating that $102 billion worth of tokens will be unlocked by 2023.
This unlock has potentially harmful effects on XRP, FIL, and similar tokens. Investors can sell more assets with more tokens in circulation, effectively limiting the upside potential. In particular, XRP has several bullish events coming up throughout the year, but sellers can take the upper hand with other tokens in circulation.
Why Is TVL Important In Crypto?
In addition to market indicators such as circulating supply, trading volume, and market capitalization, total value locked (TVL) major crypto indicator popular among investors to check the overall value of assets – in any fiat currency or US dollars – stored in all crypto protocols.
TVL reaches nearly $2 billion by 2022, up from $400 million in the past two years. TVL has become an important indicator for investors who need to assess that the entire ecosystem or a particular protocol is healthy and worthy of investment.
Every time TVL increases, it is accompanied by an increase in liquidity, usefulness, and popularity. These factors contributed to the success of the project. A higher TVL means more funds are locked in the crypto protocol, with users getting more benefits and returns. A lower TVL means lower availability of funds, which results in lower profits.
Meanwhile, the global cryptocurrency market capitalization has made some significant moves over the past few days and is currently above $1 trillion at the time of writing.
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