- Tokens worth over $169 million to be released this month.
- Aptos and ApeCoin to witness largest dollar values being unlocked.
- Multiple token unlocks may result in downward pressure on prices.
As per a recent tweet by Coin Bureau, a prominent cryptocurrency YouTuber, an extensive quantity of tokens worth more than $169 million is scheduled to be released this month. This information has been sourced from reputable platforms such as TokenUnlocks and Binance Research. The tweet emphasizes that Aptos and ApeCoin will witness the largest dollar values being unlocked this week, with an estimated $37.1 million worth of APT and $34.5 million worth of APE set to be released in the coming days.
This month, multiple token unlocks are on the horizon, which may result in a potential increase in supply and subsequent downward pressure on prices. Optimism (OP) and Axie Infinity (AXS) are set to witness the unlocking of tokens worth $32.9 million and $22 million, respectively.
Furthermore, the crypto industry will witness significant unlocks of funds for prominent projects such as ImmutableX (IMX), DYDX, FLOW, Space ID (ID), SingularityNET (AGIX), and NYM. These projects are set to receive substantial amounts of $13.8 million, $13 million, $5 million, $4.5 million, $2.6 million, and $2.5 million, respectively.
The release dates for APT and OP token supplies have been scheduled for July 12th. NYM’s unlocking occurred on July 8th, followed by DYDX on July 4th. IMX is slated to be unlocked on July 15th, FLOW on July 16th, APE on July 17th, AXIE and ID on July 22nd, and AGIX on July 28th.
As these tokens become accessible, investors may opt to divest a portion or the entirety of their holdings, which could potentially exert downward pressure on their prices. Market participants within the cryptocurrency realm must stay vigilant about news developments, as these tokens frequently witness a surge in value during the weeks leading up to their unlocking.
