- XRP’s unexpected token unlock could impact market dynamics, with Ripple holding back most tokens to avoid a supply flood.
- Injective’s upcoming dApp launch and token unlock may stir volatility, with speculation driving potential market movements.
As February begins, CNF has reported that the crypto market anticipates several token unlock events, which could drive price movements. While January saw a mixed performance for many altcoins, February is expected to continue this trend, with upcoming developments likely influencing market volatility.
XRP, Injective, Jito Labs, Galxe, and Neutron are the tokens scheduled for unlock this month. Each unlock will impact its network and possibly price trends and investor sentiment.
XRP
XRP, the third-largest token by market cap, experienced an unexpected token unlock on February 2, 2025. Ripple unlocked 400 million XRP tokens, valued at approximately $1.13 billion. However, not all of these unlocked tokens will flood the market.
Ripple has stated that a small portion of the unlocked tokens will be used for specific activities. At the same time, the remainder will be returned to custody, preventing an immediate impact on the circulating supply. This move is happening despite no scheduled short-term voting periods, raising questions about Ripple’s long-term plans and how this could affect the market.
Injective
Injective, a decentralized finance (DeFi) platform, is disclosing the upcoming launch of an anonymous, decentralized application (dApp), which could create volatility for its native INJ token. While the details of the dApp remain a mystery, speculation about its potential success is already stirring investor interest.
The unlock of INJ tokens, paired with the dApp’s launch, could lead to market movement. Currently, the price of INJ stands at $13.74, down by 25% over the past week. The project’s market cap is valued at $1.34 billion.
Jito Labs
Jito Labs, a company focused on improving the performance of the Solana blockchain, will unlock 11.3 million JTO tokens on February 7, 2025. These tokens, valued at approximately $33.89 million, are expected to be distributed to the network’s core contributors and investors.
Moreover, JTO serves as the governance token for the Jito Network, which aims to enhance Solana’s infrastructure, particularly in liquid staking solutions.
Galxe
Galxe, a decentralized Web3 platform, will unlock 5.18 million GAL tokens on February 5, 2025. The platform will enable user engagement through various applications, such as Galxe Quest and Galxe Passport, and uses the GAL token for transactions within its network.
However, approximately 3.2 million of the unlocked tokens will be allocated to investors and backers of the platform’s growth. The remaining tokens will be distributed among community members, the project team, and advisors.
Neutron
Neutron, a smart contract platform built on the Cosmos SDK, will unlock 9.96 million NTRN tokens on February 3, 2025. These tokens, worth around $2.38 million, will be part of Neutron’s ongoing efforts to build a decentralized ecosystem with enhanced interoperability.
NTRN tokens are used for governance and participation in the platform’s decision-making processes. The February unlock will add more tokens to the circulating supply, potentially impacting the price of NTRN and investor sentiment in the short term.
