In the coming days, 3 more high-volume altcoins are preparing for a million token unlock event. Pay attention to these dates on and after 17 July.
3 altcoin giants to launch $ 100 million
Optimism, Aptos, and ApeCoin are all set to launch a significant amount of tokens worth over $100 million. July will see a high flow of tokens with the token openings. This move, which is eagerly awaited by investors, marks an important milestone in the development and market value of these projects.
According to data from Token Unlocks, ApeCoin (APE) will unlock approximately 15.6 million tokens on July 17. The $34.3 million unlocking accounts for approximately 4.23% of APE’s circulating supply. From here, $16.2 million worth of APE will be allocated to the treasury of the project. In addition, $9.2 million will be allocated to Yuga Labs developers and $4.9 million to the founders of the project.
Note that a similar token unlock event in June caused a slight drop in the price of APE. At that time, the APE price fell 5% from $2.1 to $1.98. APE is currently trading sideways at $2.19. In the same time frame, BTC and ETH prices were stagnant.
aptos (APT)
In addition to ApeCoin, Aptos is also set to unlock 4.5 million Aptos (APT) on July 12. These cryptos make up about 2.17% of the total supply. Its estimated value is approximately $33.5 million. Among the unlocked altcoins, the supporting community will add around $24 million worth of APT. $10 million goes to the Aptos Foundation.
After the previous token release of 4.54 million APT the previous month, the price of APT dropped 4.5%. It then went back to $8.12. Recently, the price of APT has gained around 10% in the last 24 hours, according to CoinGecko. However, investors should be wary of any significant sell-offs after the token unlock. If the initial investors sell their tokens on the market at the same time, there will be significant price drops.
Optimism (OP)
One of the notable token launches in July belongs to the Optimism project. On July 30, Optimism, renamed OP Mainnet, will launch the token equivalent to 3.75% of the circulating supply. In other words, 24.2 million OPs will be released. The approximate value of these cryptos is $32.4 million. About $17 million of the unlocked tokens will be allocated to the project contributors, while $15 million will be distributed to investors. Currently, OP is trading at $1.33, down 2.5% on the day.
Optimism, now operating under the name OP Mainnet, aims to create a “superchain” network of various Layer-2 solutions. According to Interlock, some layer 2 projects have partnered with OP Mainnet to create this superchain system. Among these collaborations, Base, a layer 2 developed by cryptocurrency exchange Coinbase, and Zora Network, the blockchain network powering the NFT marketplace project Zora, draw attention.
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