Unlocking three tokens for the second week of April

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Token unlocking plays a pivotal role in the crypto market and affects liquidity, price volatility and investor sentiment. These are cryptographic events where locked coins or tokens are released and made available for trading in the open market.

This week, three major projects, Axie Infinity (AXS), Jito Labs (JTO), and Xave (Xav), will be releasing previously locked tokens in a circular fashion. This is what you need to know and be aware of.

1. Axie Infinity (axs)

Unlock date: April 12th
Number of tokens to unlock: 10.72 million x (3.97% of total supply)
Current circulation supply: 160.159 million x
Total supply: 270 million x

Axie Infinity is a blockchain-based game that often features digital creatures called axis compared to Pokemon. This pet-centric game combines elements of blockchain, NFT and ERC-20 tokens to give players the opportunity to collect, fight and exchange unique creatures in the virtual world.

The April 12 unlock will consist of 1.72 million axs tokens worth around $29 million. Axie Infinity awards the majority of these tokens for rewards and teams.

Unlock Axie Infinity. Source: Cryptorank

2. JitoLabs (JTO)

Unlock date: April 7th
Number of tokens to unlock: 1131 million JTO (1.13% of total supply)
Current circulation supply: 31337 million jto
Total supply: 1 billion JTO

Jito is a liquid staking service that distributes MEV rewards to holders. On April 7th, Jito unlocks 113.3 million tokens, which is currently worth around $20 million.

The project allocates most of the unlocked tokens for ecosystem development, core contributors and community growth. Additionally, it assigns 10% of the token to the airdrop.

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Jito Labs is unlocked. Source: Cryptorank

3. Theme (think)

Unlock date: April 11th
Number of tokens to unlock: 313.29 million XAV (3.13% of total supply)
Total supply: 10 billion thoughts

Xave is a Defi platform focused on the decentralized Forex (FX) market. Increases Stablecoin liquidity through an automated market maker (AMM) model.

On April 11th, the network will unlock more than 313 million XAV tokens. This accounts for only 3% of the total supply. Xave focuses distributions primarily on teams, investors and the Ministry of Finance.