Significant Token Unlocks in the Altcoin Market Set for July
We have often witnessed popular altcoins rapidly crash due to massive token unlocks in the past. The same could occur again. Most investors do not take altcoin token inflation into account. For example, when DYDX was launched, a significant number of new tokens were introduced to the market every month, matching the initial circulating supply. This caused the hope for a double-digit price to remain a dream.
July’s Token Unlocks
This July, serious token unlocks are expected for many altcoins, including Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP). With total unlocks exceeding $138 million in a thinly liquid environment, this number is quite high.
Aptos (APT)
Aptos will circulate 4.54 million tokens, valued over $31 million. These tokens constitute 2.16% of the circulating supply. The project will unlock 1.33 million tokens for the foundation and 3.21 million tokens for the community.
The token unlock is expected to be completed within a few hours.
APE Coin
On July 17th, ApeCoin (APE) will release 15.60 million tokens into circulation. Valued at $29.95 million, these APE tokens constitute 4.23% of the circulating supply. The tokens will be unlocked for Yuga Labs, Treasury, contributors to the launch, charities, and the founder of Yuga Labs.
Axie Infinity (AXS)
Axie Infinity has planned to unlock AXS token locks on July 22nd when the project will issue 3.43 million tokens as staking rewards. This unlock, worth about $20 million, will constitute 2.96% of the circulating supply.
Optimism (OP)
Lastly, on July 30th, Optimism (OP) will unlock 24.16 million tokens for its core participants and investors. The tokens, contributing 3.75% to the circulating supply, are valued at about $29 million at current prices.
Such token unlocks can cause a decrease in price for two reasons. First, the administrators who receive the unlocked tokens may opt for selling. Second, other investors may assume the first possibility and decide to sell as well. In any case, an increase in the number of tokens that can be sold is generally a good reason for a price decrease. However, the projects can reverse this fall by making significant announcements to increase demand during the same period. We have seen such examples in the past as well.
The post Significant Token Unlocks in the Altcoin Market Set for July appeared first on COINTURK NEWS.
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Significant Token Unlocks in the Altcoin Market Set for July
We have often witnessed popular altcoins rapidly crash due to massive token unlocks in the past. The same could occur again. Most investors do not take altcoin token inflation into account. For example, when DYDX was launched, a significant number of new tokens were introduced to the market every month, matching the initial circulating supply. This caused the hope for a double-digit price to remain a dream.
July’s Token Unlocks
This July, serious token unlocks are expected for many altcoins, including Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP). With total unlocks exceeding $138 million in a thinly liquid environment, this number is quite high.
Aptos (APT)
Aptos will circulate 4.54 million tokens, valued over $31 million. These tokens constitute 2.16% of the circulating supply. The project will unlock 1.33 million tokens for the foundation and 3.21 million tokens for the community.
The token unlock is expected to be completed within a few hours.
APE Coin
On July 17th, ApeCoin (APE) will release 15.60 million tokens into circulation. Valued at $29.95 million, these APE tokens constitute 4.23% of the circulating supply. The tokens will be unlocked for Yuga Labs, Treasury, contributors to the launch, charities, and the founder of Yuga Labs.
Axie Infinity (AXS)
Axie Infinity has planned to unlock AXS token locks on July 22nd when the project will issue 3.43 million tokens as staking rewards. This unlock, worth about $20 million, will constitute 2.96% of the circulating supply.
Optimism (OP)
Lastly, on July 30th, Optimism (OP) will unlock 24.16 million tokens for its core participants and investors. The tokens, contributing 3.75% to the circulating supply, are valued at about $29 million at current prices.
Such token unlocks can cause a decrease in price for two reasons. First, the administrators who receive the unlocked tokens may opt for selling. Second, other investors may assume the first possibility and decide to sell as well. In any case, an increase in the number of tokens that can be sold is generally a good reason for a price decrease. However, the projects can reverse this fall by making significant announcements to increase demand during the same period. We have seen such examples in the past as well.
The post Significant Token Unlocks in the Altcoin Market Set for July appeared first on COINTURK NEWS.
Read More