Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, locked digital assets worth $2.68 billion will hit the market in November as vesting periods for blockchain-based projects expire, Off The Grid has launched new character skins inspired by the presidential election candidates, and Ethereum Foundation researcher Justin Drake announced his resignation from the Eigen Foundation.
Crypto projects set to unlock $2.6 billion in tokens in November
According to vesting data tracker Tokenomist (formerly Token Unlocks), $2.68 billion in crypto assets will be unlocked in November. Over $900 million in tokens will be unlocked on a cliff basis, while about $1.7 billion will be unlocked linearly.
The most noteworthy token unlocks in November 2024 belong to projects like Memecoin MEME$0.0102, Aptos APT$7.94, Arbitrum ARB$0.4738, Avalanche AVAX$23.03 and Optimism OP$1.40.
Crypto token vesting is a practice in the digital asset space to prevent early investors or project team members from dumping tokens before a project matures. It also locks crypto assets to prevent holders from selling all at once and putting pressure on the markets, which may lead to a downturn in crypto token prices.
Meme-project Memecoin is set to unlock 3.45 billion coins, worth about $37.8 million for its airdrop. Apart from the cliff unlock, it would also perform a linear token unlock for its contributors. This would be over 10 million MEME tokens daily, worth about $117,000. The MEME token’s price currently hovers at $0.010, 81% lower than its 2024 high of 0.053.
Meanwhile, the Ethereum layer-2 network Arbitrum will release 92.65 million tokens worth $45 million. The crypto tokens are allocated to its investors, team and advisers. On March 16, Arbitrum released 1.1 billion tokens worth $2.32 billion.
Off The Grid drops “insane” Trump and Harris outfits before US election
Third-person battle royale shooting game Off The Grid has released new character skins resembling the two candidates in the upcoming United States presidential election, leaving gamers calling the move “insane” and “wild.”
Titled the “Save Democracy Content Pack,” the Nov. 2 gameplay trailer features character skins seemingly inspired by US presidential candidates Donald Trump and Kamala Harris, playing on phrases they’ve said in the past or subtle references to their policy positions.
“I’ve always been against the death penalty, but in this case, I’ll make an exception,” the female character dressed in blue declared, a punishment Harris has long and publicly condemned.
“I need a new right arm…make sure it’s not made in China,” yelled the man in red, his voice strikingly similar to Trump’s.
Ethereum Foundation researcher resigns from Eigen Foundation, issues apology
Ethereum Foundation researcher Justin Drake announced on Nov. 2, 2024, that he resigned from his role as an adviser for Eigen Foundation in September and will now focus on developing the Ethereum layer-1 protocol.
Drake issued an apology to the Ethereum Foundation and the community while stressing his commitment to focus solely on the Ethereum network:
“Going forward, I will turn down all advisorships, angel investments, and security councils. This personal policy goes above and beyond the recent Ethereum Foundation-wide conflict of interest policy, not because that was asked of me, but because I want to signal a commitment to neutrality.”
The Ethereum Foundation researcher sparked a backlash from the Ethereum community in May 2024 after he accepted the paid advisory position at the Eigen Foundation.
To read article in Arabic, please visit the website Crypto Mena
Risk Disclaimer
Although Sponsored Trading can be profitable, it is associated with a significant risk of losing your investment. The risks will increase when trading on margin companies. Traders must exercise due diligence and be careful when making their trading decisions. It is the sole responsibility of the Trader to learn and acquire the knowledge and experience required to use the Trading Platform and anything that will be required to trade properl
