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ARB, OP, STRK and more
Token unlocking involves releasing previously locked tokens based on the fundraising terms. Projects carefully plan these releases to avoid market pressure and prevent token prices from falling.
However, factors such as lack of liquidity or early profit-taking by investors can have a significant impact on the dynamics of an asset. Here are five important token unlocks to watch next week.
Optimism (OP)
- Release Date: July 15th
- Number of tokens unlocked: 10 million OP
- Current circulating supply: 1.12 billion OP
Optimism is a Level-2 scalability solution designed to improve the speed and reduce the costs of transactions on Ethereal mainnet. The OP token plays a crucial role in governance, allowing holders to vote on proposals and decisions that shape the development and management of the network.
On July 15, Optimism will increase its circulating supply by 10 million OP tokens. According to TokenUnlocks, the project will use these tokens to retroactive financing program for public goods.
This initiative is designed to reward projects that have had a positive impact on the ecosystem. By providing retroactive grants, it incentivizes developers to contribute to public goods, knowing that their efforts may be rewarded later.
To know more: Optimism vs. Arbitrum: Comparing Ethereum Level 2 Rollups
Star Grid (STRK)
- Release Date: July 15th
- Number of tokens unlocked: 64 million STARK
- Current circulating supply: 1.3 billion STARK
Starknet is developing a ZK-Rollup Layer-2 solution to scale decentralized applications on Ethereum. After a successful investment round, the team introduced the STRK token, which is essential for the decentralization of the network.
“The STRK token was created so that STARK-based scaling can happen in a more decentralized way. The token design helps Starknet be managed and administered by the community, and Provisions is a powerful means to achieve this,” said Diego Oliva, CEO of the Starknet Foundation.
On July 15, the project will unlock 64 million STRK tokens, which will be distributed to investors and early contributors.
To know more: An in-depth analysis of Starkware, StarkNet and StarkEx
Referee (ARB)
- Release Date: July 16th
- Number of tokens unlocked: 92.6 million ARB
- Current circulating supply: 2.9 billion ARB
Refereedeveloped by Offchain Labs, it is one of the most popular Layer-2 solutions for Ethereum. main network launched in August 2021, with funding from Lightspeed Venture Partners, Polychain Capital, Ribbit Capital, Redpoint Ventures, Pantera Capital, Alameda Research, entrepreneur Mark Cuban, and cryptocurrency exchange Coinbase.
Next week, Referee will unlock over 90 billion ARB, currently valued at approximately $92.59 million. The team, advisors, and investors will receive these tokens.
To know more: How to Buy Arbitrum (ARB) and Everything You Need to Know
Axie Infinite (AXS)
- Release Date: July 16th
- Number of tokens unlocked: 2.45 million AXIS
- Current circulating supply: 147.8 million AXS
Axie Infinity, created by Sky Mavis, is a leader Blockchain Play-to-Earn Game where players collect, breed, and battle creatures called “axies.” The game has gained considerable popularity, in part due to its engaging gameplay and potential for earning rewards. Players can breed axies to create new characters and earn rewards by winning battles and selling axies on the market.
The game uses its native AXS token for various purposes, including platform development and governance. On July 16, 2.45 million AXS will be unlocked to distribute betting rewardsfurther incentivizing player participation.
To know more: Axie Infinity (AXS) Price Prediction 2024/2025/2030
ApeCoin (APE)
- Release Date: July 17
- Number of tokens unlocked: 15.6 million MONKEY
- Current circulating supply: 674.6 million MONKEY
ApeCoin is the native token of Yuga Labs’ Ape ecosystem, which includes the popular Bored Ape Yacht Club (BAYC) NFT CollectionOn July 17, the project will unlock over 15 million tokens and distribute them among the treasury, founders, team, and contributors.
Typically, APE experiences a price drop following major breakouts. Investors and traders should pay attention to this event, as it could have a serious impact on the token’s dynamics.
To know more: Bored Ape Yacht Club: What is BAYC?
Other unlocks next week include Cyber (CYBER), Render (RNDR), Manta Network (MANTA), and more tokens, with a total value of more than $170 million.
While many consider token unlocks to be bearish, well-planned planning can strengthen the long-term viability of a project. Aligned with development milestones and progress, unlocks will motivate team members, increase community engagement, and promote ecosystem growth.
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