Markets
Cryptocurrency Market Expected to Unlock $860 Million in Tokens in July
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Around 40 crypto projects are expected to be unlocked next month, with a combined market value of around $860 million. According to data Among Token Unlocks, Xai, AltLayer, Arbitrum, and Aptos lead the charge with the largest token releases.
Xai is expected to issue approximately 198 million XAI tokens on July 9, representing 71.5% of its circulating supply, valued at approximately $97 million. These tokens are allocated to the team, pool, investors and the project ecosystem.
Up close, Aptos will unlock 11.3 million APT tokens on July 12, worth nearly $79 million, for the Aptos Foundation, its community, key contributors, and investors.
Arbitrum will release 92.6 million ARB tokens on July 16, worth $76 million, split between the project team, investors, and advisors.
The AltLayer token unlock is scheduled for July 25, with 684 million ALT tokens, representing almost 45% of the circulating supply and valued at approximately $133 million. These tokens are intended to serve various project needs, including protocol development and community incentives.
Other notable token unlocks include Io.net (IO), Starknet (STRK), and Sui (SUI).
Io.net is expected to release 7.5 million IO tokens, or nearly 8% of its circulating supply, valued at approximately $26 million, on July 1.
Sui will unlock 64 million tokens, or over 2.5% of its circulating supply, worth $56 million on July 1.
Finally, Starknet will release 64 million STRK tokens, approximately 5% of its circulating supply and worth approximately $47 million on July 15.
What’s next for the price?
Token release refers to the release of a certain number of tokens that were previously prohibited from trading. Investors often fear a price drop caused by selling pressure when a large amount of tokens enter the market.
However, token unlocks are not inherently bad. Small unlocks can have minimal impact. An annual report from Token Unlocks shows that Tokens increase by an average of 34% after being unlocked for private investors.
Overall, the exact impact of token unlocking is often unpredictable. When considering a crypto investment, it is important to be aware of upcoming token unlocks and their potential impact on price.
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