Best Buys For The Bitcoin Halving

Published

5 months ago

28 April, 2024

Bitcoin is up 44% so far this year. Its halving could accelerate this trend and spread the gains to other stocks and tokens. Some crypto miners may face a difficult road ahead.

Bitcoin’s much anticipated halving will occur tomorrow at approximately 9:30 pm EST. What’s a halving? It’s a technical change initially written into the source code of bitcoin by Satoshi Nakamoto, the token’s pseudonymous creator, which mandates a gradual reduction in the growth of its supply. After tomorrow only 3.125 bitcoin will be awarded to miners who solve the complicated mathematical problems (called proof of work) necessary to add a new block to the Bitcoin blockchain. This occurs every 10 minutes. Before the halving miners made double that amount. The halving is part of bitcoin’s answer to the risk of runaway inflation that some currencies face when central banks debase their money. Bitcoin’s maximum total supply is limited to 21 million coins. There are roughly 19.7 million outstanding today. Because of halvings, the last bitcoin is projected to be mined in the year 2140.

For investors, halvings, which occur every four years, have proven to be bullish. When the first halving occurred in 2012, bitcoin’s price was a mere $12 or so. Within less than a year it had risen to more than $100. During its second halving in 2016, bitcoin was selling at $650. In 2017, it surged to nearly $20,000 as the crypto initial coin offering bubble inflated. The asset was trading under $8,000 before the last halving in 2020, today it is worth $62,000.

The easiest way to play the halving today is to simply buy the cryptocurrency through an intermediary like Robinhood or Coinbase, or buy shares in one of the 11 new SEC-approved spot bitcoin exchange-traded funds being offered from the likes of BlackRock, Fidelity, Invesco and Ark Invest. But there are other ways to play a post-halving rise in the price of crypto’s seminal currency.

STOCKS

What’s good for bitcoin is often great for bitcoin miners. Bitcoin miners don’t move any dirt, they instead run banks of energy-slurping servers in an attempt to solve the pointless mathematical equations necessary to create new bitcoin blocks. Since the last halving in May 2020, bitcoin is up 641%. The three largest publicly traded miners, Marathon Digital Holdings (MARA), CleanSpark (CLSK) and Riot Platforms (RIOT), are up 1,821%, 613%, and 407%, respectively.

Over the long term, the miners have performed exceptionally, however year-to-date mining stocks have turned in abysmal performance (see chart below). The exception is CleanSpark, a miner based in Henderson, Nevada with nine mining facilities mostly in the Southeast. Its stock is up around 33%, though it still trails bitcoin, which is up 44% so far this year.

Why are bitcoin mining stocks ailing? Because post-halving, miners stand to make half as much as they were making before, at least until the price of bitcoin doubles. They also face new competition from spot bitcoin ETFs which have amassed $59 billion in assets since January. In the past, investors have used shares of bitcoin miners as SEC-regulated proxies for bitcoin. Now they don’t have to.

Now may be a good time to selectively invest in the beleaguered mining stocks: the most efficient will come through the halving stronger and will ultimately benefit as bitcoin’s price climbs.

“Miners are not going to be making as much money, but they, at least the bigger ones, have done enough over the last year to prepare for the revenue shock,” says Colin Harper, head of content and research at bitcoin mining services firm Luxor Technologies.

“The game is no longer about being on the low end of the cost curve. A miner must be on the low end of the cost curve and have access to capital at a low cost,” says Amanda Fabiano, founder of mining-focused Fabiano Consulting. “As block subsidies become scarcer, the importance of strategy and economies of scale intensifies, leading to an increased activity in mergers and acquisitions. The landscape of miners, both public and private, might look very different in one year’s time.”

LARGE BITCOIN MINERS

Miners like Marathon, CleanSpark, Riot, and Bitdeer have raised over $1 billion in equity last year in an effort to fund new technology that will increase the efficiency and speed of their “fleets” of computers. Additionally, “large miners invested not just in new machines but new facilities to expand their megawatt capacity,” adds Harper. “Miners are going to have to be more vertically integrated to survive post-halving,” he warns. This means controlling not only the machines that process bitcoin transactions but also owning power sources to lower the cost of electricity.

Marathon, the largest miner by computing power, has recently acquired three mining sites in Texas and Nebraska where electricity is cheap. Previously, it had largely relied on computers of competitors like Hut 8, bearing higher operating costs than those of its peers. In February, rival CleanSpark also announced the acquisition of three new facilities in Mississippi to diversify its geographical presence beyond Georgia and New York.

Bitdeer is taking vertical integration to a whole new level. Last month, the Singapore-based miner with $369 million in revenues, announced the testing of its first cryptocurrency mining chip, SEAL01, which it plans to integrate into the company’s new SEALMINER A1 mining machines. The new chips are designed to improve performance while minimizing power consumption. The production of mining rigs may not only open up a fresh source of income for Bitdeer but also allow the company to bypass the need to buy rigs from external suppliers for its own operations (most miners are dependent on the industry’s duopoly of Chinese manufacturers, Bitmain and MicroBT). This could substantially reduce their capital expenditures, notes Mark Palmer, senior equity research analyst at The Benchmark Company. Bitdeer was spun off from Bitmain in January 2021. Its new CEO Jihan Wu cofounded Bitmain and had served as its chief executive before the transition. The company intends to install the new miners at its data centers in Rockdale, Texas and Norway by the year’s end.

Speculative investors may want to consider an investment in Core Scientific, which returned to the public market in January after emerging from bankruptcy. Core’s stock is down 20.9% since its return on Nasdaq on January 24 but Kevin Dede, an analyst at H.C. Wainright, rates the stock a buy, saying, “We expect the company to prove its mettle over time. With only $71 million in debt to service in 2024, we think Core is positioned to streamline its operations further while generating cash in the buoyant mining environment.”

Among miners, Miami’s Hut 8 is even more speculative than Core Scientific, and probably should be avoided. The company has been under attack by short-seller J Capital Research, which released a report in January critical of Hut 8’s merger with US Bitcoin Corp. (USBTC). Shortly after the negative report surfaced Hut 8 appointed new CEO Asher Genoot, cofounder of USBTC, which builds and operates data centers securing the bitcoin network. Genoot was featured in Forbes’ 30 Under 30 2024 list.

Hut 8’s stock lost 23% after J Capital’s report called the miner’s merger with US Bitcoin Corp. an “over-levered pump-and-dump” scheme and alleged questionable undisclosed stock ownership and low operational efficiency. In response, Hut 8 issued a statement calling J Capital “a deliberate attempt to spread misinformation about Hut 8, its operations, finances, management practices, and key executives.”

The ultimate question is, “Who is going to run the best race in terms of getting to scale in the most efficient manner possible by adding electric capacity, increasing the efficiency of their fleets, adding next-generation mining machines, and ultimately positioning themselves to withstand downturns in the future,” asks Palmer.

Aside from crypto mining stocks, Virginia-based software company MicroStrategy (MSTR) is well-positioned to benefit from the halving if the price appreciation that followed the previous halvings reoccurs. MicroStrategy’s shares are up 83% this year, roughly double bitcoin’s 44% gain. “The key to MSTR’s outperformance versus bitcoin has been its use of leverage to acquire bitcoin as a result of its opportunistic tapping of the capital markets,” says Palmer. Just last month, the software maker conducted two convertible bond offerings collectively worth $1.4 billion. Much of the proceeds will go toward buying more bitcoin.

“In as much as MicroStrategy is a levered play on bitcoin, we view it as well positioned to continue to outperform especially if history repeats and a powerful rally follows the fourth bitcoin halving as the first three halvings had been,” notes Palmer.

MicroStrategy may be a turbocharged play on bitcoin, but it is also a risky one. Its market capitalization currently sits at $26 billion but the company holds 214,246 BTC worth about $14.6 billion at current prices—a premium of more than 70%. Dede from H.C. Wainwright thinks the stock is overvalued: “It would be a different story if there wasn’t such a huge premium,” he says.

Another way to play bitcoin’s rise is to buy shares in Coinbase, the publicly traded San Francisco-based pure-play cryptocurrency exchange. Oppenheimer and Keefe, Bruyette & Woods raised their price targets on Coinbase ahead of the halving to $276 and $230 respectively. The stock currently trades for $214.

TOKENS

If halvings tend to be good for bitcoin prices, it stands to reason that other cryptocurrencies will benefit as well—especially those related to bitcoin.

“There exists a large, untapped pool of capital within the bitcoin ecosystem that remains dormant, and surprisingly few listed assets that traders can use to gain exposure to the narrative. Should capital begin to rotate into the bitcoin ecosystem, tokens like rune, stx, and ordi could benefit significantly and outperform,” wrote Jake Ostrovskis, OTC Trader at algorithmic trading firm Wintermute, in comments shared with Forbes.

Rune is the native token of THORChain, a decentralized exchange enabling token swaps across different blockchains. It could be a beneficiary of bitcoin’s rise, though last Thursday it was hacked for $4.9 million. There are other platforms that act as bridges between blockchains similarly to THORChain, such as Wormhole and LayerZero, but they do not have tokens that investors can use to speculate.

Stx is the native token of the Stacks protocol, which enables the creation of decentralized applications on top of Bitcoin similar to Ethereum. The token gained 51% this year thanks to the excitement about the upcoming upgrade to Stacks, which is expected to boost transaction speed on the network. However, the blockchain has been modestly used, according to Forbes’ recent analysis.

Ordi, a meme token based on the Ordinals protocol, famous for enabling the creation of NFTs on the Bitcoin blockchain, surged from its March 2023 inception to a market cap of $1.6 billion by the end of 2023, but is down 45% since the beginning of the year. Ordinals creator Casey Rodarmor said he will soon launch a new token standard for Bitcoin called Runes (separate from THORChain’s rune) that seeks to give users a more efficient way of creating fungible tokens, which will live on top of the Bitcoin blockchain. Think, a better way to create new cryptocurrencies, utility and reward tokens.

But Rodamor himself is skeptical. “Fungible tokens are 99.9% scams and memes,” he wrote in his blog last year. “However, they don’t appear to be going away any time soon, similar to the way in which casinos don’t appear to be going away any time soon. Creating a good fungible token protocol for Bitcoin might bring significant transaction fee revenue, developer mindshare, and users.”

Runes’ launch is expected to co-occur with the halving. Watch out for a rush of new tokens that will likely utilize the new standard. Traders are also likely to pile into meme coins on the Bitcoin network, wrote Bartosz Lipiński, CEO of Cube.Exchange.

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There are more reasons to keep an eye on Runes. “It is expanding the narrative of bitcoin from the digital gold/store of value to this value asset platform and ecosystem with many apps and other native assets being built on top of it,” says Fabiano. “None of that existed at the time of the last halving.” If Runes is successful, Fabiano believes it could “kick off a market frenzy in terms of transaction fees”—as new tokens get created and traded, miners stand to collect fees from those transactions. Says Fabiano, “Anyone not paying attention to this is missing the bigger picture.”

For more investment ideas on how to capitalize on the Bitcoin halving, try Forbes CryptoAsset & Blockchain Advisor.

Editor’s Note: The previous version of the story named Hut 8’s former headquarters in Toronto. The company is now based in Miami.

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We are the editorial team of TokenTalk, where seriousness meets clarity in cryptocurrency analysis. With a robust team of finance and blockchain technology experts, we are dedicated to meticulously exploring complex crypto markets with detailed assessments and an unbiased approach. Our mission is to democratize access to knowledge of emerging financial technologies, ensuring they are understandable and accessible to all. In every article on TokenTalk, we strive to provide content that not only educates, but also empowers our readers, facilitating their integration into the financial digital age.

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Top 5 Crypto Pre-Sales for August 2024

Published

2 months ago

1 August, 2024

TokenTalk Staff

Have you heard about cryptocurrencies in 2011? Was Bitcoin so popular back then? Well, yes, some forward-thinking people saw its potential early and invested in BTC back then. Investors were skeptical about this new financial element; however, many took the risk and invested what they could risk in the cryptocurrency market.

Going through the list of top presales, we have identified and studied five of the main candidates that can change the game on the trading charts. These new opportunities promise the best returns and a great chance to buy tokens at affordable prices. While 5thScape is at the top of our recommendation, projects like DarkLume and Artemis Coin are pioneers in their respective categories.

Top 5 Crypto Pre-Sales to Add to Your Watchlist in 2024

Below we present the top five cryptocurrency pre-sales that you should consider adding to your investment watchlist.

5th Landscape (5SCAPE) – King of digital VR gaming with AR/VR elements
Dark light (DLUME) – Virtual Metaverse for Social Exploration
SpacePay (SPY) – Versatile Financial Payment Gateway for Seamless Transactions
EarthMeta (EMT) – Replicating our planet on a virtual platform
Artemis Coin (ARTMS) – NFT Marketplace for Digital Real Estate Investment

In-Depth Review: The Best Crypto Pre-Sales of 2024

Now, let’s take a closer look at these pre-sale events and how they can help investors make significant profits this year.

5th Landscape (5SCAPE)

The 5thScape project combines emerging technology using the fundamentals of virtual and augmented reality on the Ethereum platform using its native currency as 5SCAPE. Users of the token experience increased security and interactive gameplay in the digital space.

Here are the potential reasons why investors are admiring the 5thScape ecosystem:

Immersive Gameplay: With over five game titles, the platform is ready to amaze the audience with games ranging from archery, sports, battle and high-speed racing.

Innovative VR Content: 5thScape’s progress in the crypto-gaming space will contribute to the development of educational resources and other VR content on the website.

Motion Control Gadgets: This project is working hard to introduce VR devices such as headsets and gaming chairs with precise controls and high-resolution soundscapes to achieve the best immersive feeling while exploring the ecosystem.

Practical utility: 5SCAPE tokens stimulate participation in various activities and convert the ecosystem into economic value for investors.

Staking Opportunities: Acquiring 5SCAPE tokens after listing on exchanges can generate higher earnings

Free Giveaways and Prizes: The distribution of free coins and VR subscriptions attract investors.

Visit 5thScape for more details>>

Dark Light (DLUME)

We just saw how 5thScape captures investors with its AR/VR digital landscape. DarkLume works on similar VR principles but has a completely new VR metaverse. Its presale is about to hit the $1 million mark and simultaneously increase fund inflows.

What are the specifics that allow DarkLume to lead the metaverse industry?

Native currency: The project has DLUME as a digital currency that can be used for in-game purchases or upgrades. These utility tokens also give their holders the right to vote on the development and expansion of the project.

Benefits of staking: Investors who want to hold and earn from this currency expect to multiply their funds after the stock market listing.

Exploratory Metaverse: Once you enter this world, there is no turning back. There are so many opportunities to find recreational activities and relieve stress. Walking through lush landscapes and stargazing at night can be a memorable experience. If you are a party animal, DarkLume’s virtual discos and clubs will win you over.

Visit DarkLume for more details>>

Payment for space (SPY)

Traditional financial setups face many challenges in daily transactions and are also expensive. To solve these concerns, Maxwell Bunting founded SpacePay by combining cryptocurrency payments and blockchain technology. The London-based startup makes online shopping and payments more seamless by integrating its network with existing card terminals, allowing users to make payments in any digital currency. Merchants can choose to receive payments in conventional currency without having to pay exorbitantly.

SpacePay has designed a user-friendly and convenient interface that supports over 325 crypto wallets. SPY, the native token of this platform, serves to enable all transactions within its ecosystem. Tokens can also be used to generate passive income through staking and additional community rewards.

EarthMeta (EMT)

EarthMeta is a virtual metaverse created to replicate our planet, Earth. It is listed as one of the best crypto pre-sales of 2024, with a focus on creating new NFT platforms and virtual assets in premium cities. The startup encourages users to own and govern virtual landscapes.

Cities are then further broken down into smaller assets such as landmarks, buildings, monuments, parks, schools, and more. NFTs can now be bought and sold in the project’s marketplace. Governors are eligible to earn 1% fees per transaction within their city. EMT token holders can also generate more at once with custom API integrations and participation in DAO activities.

Artemis (ARTMS)

Today we have covered a number of financial projects that you can consider along with 5thScape, the most promising VR coins of the decade. Artemis (ARTMS) is a financial platform that allows investors to transact and trade using its digital asset, ARTMS. Users can also lend, borrow, stake, save, and generate rewards from yield farming.

The project is about to enter Phase 4 of development which will see the launch of the Artemis Crypto System. This system is customized to facilitate a large number of secure and transparent crypto transactions. Cryptocurrency enthusiasts and professional entities can buy and sell products such as smartphones, bicycles and internet services using crypto payments. Early investors have great advantages until the project is available at a discounted price in the pre-sale.

Read this before investing in the next cryptocurrency market

Experienced investors know the factors to consider before investing in this dynamic market. Here are some points that beginners should remember before securing a position in the cryptocurrency universe.

It is essential to verify the project details and the founders.
Read and understand the whitepaper for all the technical information about the ICO, the roadmap and the mission of the project.
The project roadmap will provide greater clarity on milestones and results achieved.
Review the fundamentals of the new technologies involved in the development of the platform.
Before investing in any cryptocurrency, carefully evaluate the benefits and risks to avoid losses and build a profitable portfolio.

Conclusion

5thScape ICO Offers Tokens at Deeply Discounted Prices. Once the presale is over, the token price will skyrocket 434% from the first round and promise 600x returns to early investors. Who wouldn’t want to be part of an innovative and growing VR ecosystem? Check your details, review all the documents and start investing in 5thScape now.

Time flies, and so does the $100,000 prize.

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Best Upcoming Cryptocurrencies for Long-Term Profits: Turn $100 Into $1000 With These Picks

Published

2 months ago

1 August, 2024

TokenTalk Staff

Have you ever wondered how much return Bitcoin has given to investors who bought this gold cryptocurrency a decade ago? In 2014, Bitcoin reached its significant milestone of $1,000 in the first month. Currently, it is trading at around $64k, which is an astonishing 6300% increase in the span of 10 years. No stock, no ETF could ever give you such monumental returns. This simply proves that the cryptocurrency market turns your dreams of investment returns into reality.

While the established giants are not giving so much returns now, the ball is in the court of upcoming cryptocurrencies that are based on the development of projects to provide up to 1000x returns in the near future. In this article, we will explore 5 upcoming cryptocurrencies for long-term earnings that can turn your $100 into $1000 – the only key is strategic investing with a lot of patience!

Best Upcoming Cryptocurrencies For Long Term Profits

Below we list the top 5 cryptocurrencies for long-term gains, which are set to give you returns of up to 1000 times in the coming times.

5th Landscape (5LANDSCAPE)
Dark light (DISGUST)
BlockDAG (BDAG)
eTukTuk (TUK)
WienerAI (WAI)

Take a deeper look at the background of these 5 upcoming cryptocurrencies for long-term gains and see why they could be viable options for your cryptocurrency portfolio.

1. 5° Landscape (5SCAPE)

5thScape is changing the face of entertainment by merging augmented and virtual reality with blockchain technology, offering a VR content ecosystem unlike any other destination on the internet. Its native token, 5SCAPE, is the cornerstone of this innovative ecosystem. With a limited supply of 5.21 billion tokens, 5SCAPE offers early investors a unique opportunity to participate in the growth of a potentially transformative platform.

Combining the immersive experiences of VR technology with a cryptocurrency that has a real-world use case, 5thScape presents a compelling investment proposition. The project’s focus on providing unparalleled user experiences, coupled with its potential to generate substantial returns, makes 5SCAPE an ideal new cryptocurrency to have in your portfolio for long-term gains.

Click here to invest in 5thScape today >>

2. DarkLume (DLUME)

DarkLume is a meticulously crafted metaverse where users can experience a lavish digital lifestyle. At its core is the DLUME token, the currency that powers this virtual economy. By owning DLUME, users gain access to exclusive experiences, from owning virtual properties to attending high-society events and hosting virtual celebrations with their friends.

The metaverse is divided into virtual countries, each with its own citizenship requirements. To become a citizen, users must possess a specific amount of DLUME. Maintaining citizenship involves paying taxes in DLUME and creating a sense of community and responsibility among users.

Unlike other metaverse platforms that are limited to digital interactions only, DarkLume offers a wide range of activities, from leisure and entertainment to social interactions and exciting experiences. The platform’s focus on luxury ensures that every aspect of the metaverse is designed to exceed expectations. As DarkLume continues to grow, its DLUME token is expected to be in high demand. The metaverse concept is supported by renowned names such as Mark Zuckerberg and Satya Nadella. As it is the future of immersive socialization, the DLUME token is expected to appreciate in value over time.

Explore DarkLume’s website to learn more

3. BlockDAG (BDAG)

BlockDAG is an innovative blockchain platform that uses a Directed Acyclic Graph (DAG) structure together with blockchain technology to offer fast transaction speeds, lower fees, and better scalability.

Unlike traditional blockchains that process transactions sequentially, BlockDAG processes them in parallel, which allows it to handle a much higher transaction volume. This approach makes BlockDAG an ideal platform for applications that require high throughput and low latency, such as DeFi, gaming, and IoT. Its presale has been a great success so far, and BlockDAG’s adaptability may be an optimistic sign for early investors in the BDAG token.

4. eTukTuk (TUK)

eTukTuk is a new leading crypto project that combines sustainable transportation with blockchain technology. Its main goal is to electrify the famous “tuk-tuk” industry, reducing carbon emissions that cause environmental damage while creating a thriving ecosystem. Its TUK token powers the entire platform.

One of the most notable features of eTukTuk is its Play-to-Earn (P2E) gameplay. Players can earn TUK tokens by completing challenges and missions in the game. This gamified approach not only makes the platform engaging but also incentivizes user participation in building the eTukTuk ecosystem. The primary utility of the TUK token is as a mode of payment for tuk-tuk drivers who use EV charging stations for their vehicles installed across Sri Lanka. The project will soon expand to other countries.

Overall, the value proposition of the TUK crypto token is strengthened by its utility within the platform. It can be used to purchase electric tuk-tuks, charge them at the network’s charging stations, and access various platform services. As eTukTuk adoption grows, demand for TUK tokens is expected to increase, potentially resulting in significant appreciation in the token’s value.

5. WienerAI (WAI)

WienerAI is a new blockchain-based platform that uses next-generation artificial intelligence (AI) technology to transform the cryptocurrency trading space. Its flagship product is an AI trading bot (with a sausage-themed mascot) designed to analyze market trends, identify potential opportunities, and execute trades with zero errors. With the power of AI, WienerAI provides users with a market edge in the complex and dynamic world of investing.

The platform’s native WAI token is a digital asset that underpins the entire ecosystem. Token holders can enjoy various benefits, including discounted trading fees, priority access to new features, and even a share of the platform’s profits. As WienerAI gains traction and its AI trading bot proves successful, the continued flow of demand for the WAI token will fuel its price.

Final Thoughts: Best Cryptocurrencies for Long-Term Profits

Each cryptocurrency project explored in this article brings a unique and innovative perspective to the blockchain industry. From the immersive worlds of 5thScape and DarkLume to the efficiency gains of BlockDAG and the sustainability focus of eTukTuk, not to mention WienerAI’s AI-powered trading bot with a new approach to investing, these projects are pushing the boundaries of what’s possible with blockchain technology.

While all of these projects are promising, 5thScape and DarkLume stand out as particularly interesting investment opportunities. The combination of 5thScape’s robust VR ecosystem tokenomics and unique AR/VR offeringstogether with the fantasy world of the DarkLume metaversehas the potential to appeal to a wide range of investors who may be entertainment lovers, not just cryptocurrency enthusiasts. Given their current presale stages, acquiring 5SCAPE and DLUME tokens at these early-bird prices could prove to be a strategic move for those seeking substantial returns.

This is a sponsored article. The opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on the information presented in this article.

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Avalanche Predicts ‘Most Bullish Unlock’ in Broader Market $1 Billion in Token Release

Published

2 months ago

1 August, 2024

TokenTalk Staff

Avalanche anticipates ‘most bullish unlock’ amid broader market $1 billion in token release

Token Unlocks data shows that several crypto projects:AvalancheWormhole, Aptos, SandboxArbitrum, Optimism and others are set to unlock around $1 billion worth of tokens in August.

Approximately $260 million will be allocated in the first three days of the month.

Crypto projects often schedule token unlocks to control the asset supply and prevent market oversaturation. This gradual release helps avoid significant sell-offs by early investors or team members who hold large amounts of crypto assets.

Wormhole and Avalanche to Release Over $400 Million in Tokens

The biggest news this month will be Wormhole and Avalanche.

On August 3rd, Hole in the walla cross-chain messaging protocol, will release 600 million tokens worth $151.67 million, or 33.33% of its circulating supply.

Avalanche will follow on August 20, unlocking 9.54 million AVAX tokens worth approximately $251 million, or 2.42% of its circulating supply.

The Token Unlocks dashboard shows that 4.5 million AVAX, worth $118.53 million, will go to the Avalanche team, 2.25 million AVAX, worth $59.27 million, will go to strategic partners, and the remainder will go to the Foundation and as an airdrop.

Farid Rached, former head of ecosystem growth at Avalanche, underlined that this planned unlock would be the most bullish in its history because “it is the last big step for the team and public/private investors.”

Other important unlocks

Sui, a layer 1 network, will unlock 64 million tokens worth $50 million, or 2.56% of its circulating supply, on August 1.

Similarly, decentralized exchange dYdX will issue 8.33 million tokens worth nearly $11 million, or 3.65% of its circulating supply. These tokens will be distributed to investors, founders, staff, and future employees.

Aptos will unlock 11.31 million APT tokens worth $74.64 million on August 12. These will be allocated to the Aptos community, top contributors, the foundation, and investors, with top contributors receiving the largest share: 3.96 million APT worth $26 million.

On August 14, Sandbox will release 205.6 million SAND tokens worth $66.75 million. This issuance will be split between the team, advisors, and a corporate reserve.

Finally, Ethereum’s layer 2 networks Referee AND Optimism will collectively unlock over $110 million worth of tokens by August 16 and 31, respectively.

Mentioned in this article

Posted in: Avalanche, Tokens

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Big Tech Beats Bitcoin (BTC) as Trump’s Trade Cancellation Weakens Token

Published

2 months ago

1 August, 2024

TokenTalk Staff

Big Tech Beats Bitcoin (BTC) as Trump's Trade Cancellation Weakens Token

Bitcoin has failed to join the cross-asset rally fueled by dovish comments from the Federal Reserve, as the tight US election race casts doubt on Donald Trump’s ability to implement his pro-cryptocurrency agenda.

The digital asset slipped 2.4% on Wednesday, tracking a Fed-fueled surge in an index of the Magnificent Seven large-cap tech stocks by one of the widest margins in 2024. The token fell further on Thursday, changing hands at $63,750 by 6:10 a.m. in London.

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