This Week's Crypto Calendar Is Packed with Major Events, Including Significant Token Unlocks and the Launch of Aptos' Staking ETP

These developments are likely to increase volatility, particularly for ecosystem-specific tokens, urging traders and investors to adjust their strategies accordingly.

Top crypto events this week include several significant token unlocks and the launch of Aptos’ staking exchange-traded product (ETP). Additionally, FTX victims are awaiting anticipated settlements.

Here’s a closer look at these developments and how they might impact the markets.

Avalanche, Oasis, Cardano Token Unlocks

Several ecosystems will have token unlock events this week. Key mentions include the Avalanche, Oasis, and Cardano, expected to unleash 1.67 million AVAX, 176 million ROSE, and 18.53 million ADA tokens, respectively.

Taken together, these three events will constitute unlocks worth approximately $90 million between Monday and Thursday.

Importantly, all these events will be cliff unlocks, which usually have a high chance of creating a significant price impact.

Investors typically view token unlocks as bearish catalysts since they increase the token supply, which could outpace demand, especially in a bear market.

Bitwise Aptos Staking ETP Launch

Bitwise Asset Management will launch the Aptos Staking ETP (APTB) on the Swiss exchange SIX on Nov. 19, marking a major step in the crypto asset investment landscape.

As the first Aptos Staking ETP, it demonstrates Bitwise’s commitment to expanding investment opportunities. APTB will target both institutional and retail investors, with the ETP trading on the exchange daily and offering potential returns of approximately 4.7% after fees through staking.

FTX Settlements Hearings

Bankrupt cryptocurrency exchange FTX has secured significant settlements pending court approval, with a hearing set for Wednesday, November 20.

The potential milestones, with Evolve Bank and the Silicon Valley Community Foundation (SVCF), could enable FTX to recover up to $21 million in assets, positioning it among the top crypto news this week.

These pending developments represent FTX’s efforts to maximize creditor recovery. The settlements highlight the firm’s strategy of negotiating asset returns and sidestepping lengthy and costly litigation.

In its agreement with Evolve Bank, FTX will recover approximately $12.77 million from three accounts tied to West Realm Shires Services Inc., an FTX affiliate. However, the bank will retain $462,698.65 for indemnification.

As part of the deal, Evolve Bank has waived all potential claims against FTX, including indemnity and legal expenses under their prior agreement.

Similarly, FTX has reached a settlement with SVCF to recover $8.57 million and 34,208.70 FTT tokens. Former FTX executives Nishad Singh and Caroline Ellison originally donated these assets, with the foundation selling a portion before FTX’s collapse.

By agreeing to return the remaining funds and tokens, SVCF avoids litigation while FTX secures another step toward its recovery goals.

Both settlements reflect FTX’s methodical approach to reclaiming funds amid its bankruptcy proceedings.

Kava 17 Mainnet Upgrade

Another top crypto news story this week is the voting period for the Kava 17 mainnet upgrade, which will end on November 20 and is expected to pass with a 99.47% approval so far.

It will entail the deployment to Kava Mainnet at height 12766500 around 15:00 UTC on November 21.

In this upgrade, the low-level data structure will be updated to IAVL V1, an upgraded data format for the low-level storage of application data in the Kava blockchain.

The change in format will result in much more chain performance synchronization and greatly reduce the storage footprint required for Kava nodes.

Lisk Airdrop Campaign

Lisk airdrop also makes it to the list of top crypto news this week. As BeInCrypto reported, Lisk launched its mainnet and airdrop campaigns with 15 million LSK tokens on November 12.

The campaign, expected to start on November 21, will set the pace for an App Bounty Quest campaign that will launch towards the end of the year.

Meanwhile, the first season of the airdrop will run for four months. It aims to incentivize new users and builders to engage with Lisk’s blockchain ecosystem.

In alignment with this effort, Lisk is implementing a comprehensive plan reflecting its past year’s progress through strategic partnerships and various programs.

This launch represents a new phase for Lisk, and the results will be closely monitored.

Airdrop participants can earn points by completing a range of activities on the Lisk Portal. The number of tasks completed is directly proportional to points earned.

It will determine the total LSK tokens received at the end of the campaign period.

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