There is an important development for altcoins, which may have a big sale in July. Accordingly, a significant number of tokens will be in the market. Because there is a token unlock event in the coming hours and days. Let’s look at the details.
Important development for altcoins
Over $138 million in crypto tokens will be released in July, including altcoins Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP). Accordingly, Aptos will unlock 4.54 million tokens with a valuation of over $31 million, accounting for 2.16% of the circulating supply. On the other hand, there is an important development for Optimism (OP) on July 30th. Accordingly, it will unlock 24.16 million tokens worth approximately $29 million for its core participants and investors.
In July, over $138 million in cryptocurrencies will enter circulation, including altcoins Aptos (APT), ApeCoin (APE), Axie Infinity (AXS) and Optimism (OP). It will also potentially increase sales pressure. The upcoming token unlock events for projects are important to traders and investors who follow these events closely. These unlock events potentially introduce a significant amount of new tokens to the market. It also affects the token price due to increased supply.
$31M Aptos token unlocked in less than 12 hours
Aptos will circulate 4.54 million tokens worth over $31 million. The token accounts for 2.16% of the circulating supply. The project will unlock 1.33 million tokens for the foundation and 3.21 million for the community.
On July 17, another token has an unlock. ApeCoin (APE) will circulate 15.60 million tokens. APE tokens, valued at $29.95 million, make up 4.23% of the circulating supply. Tokens Yuga Labs, Treasury, for those who contributed to the launch. It will also open for charities and the Yuga Lab founder.
Axie Infinity staking rewards worth $20 million
Axie Infinity has planned to unlock AXS tokens for July 22, when the project will issue 3.43 million tokens as staking rewards. The tokens are worth around $20 million at the time of writing. Accordingly, it will constitute 2.96% of the circulating supply. A large number means that the token price will be affected. In addition, the fact that they are subject to sale is an important factor in reducing the price.
cryptocoin.com Looking back, there is a development for Optimism (OP) on July 30. Accordingly, it will unlock 24.16 million tokens for its core participants and investors. Tokens contribute 3.75% to the circulating supply. It’s also worth about $29 million at current price. We will see how it will affect the price of Optimism in the coming days.
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