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Here are the major token unlocking events to watch out for in July
As July approaches, the cryptocurrency market is anticipating a significant wave of token unlocks, with projects set to release around $3 billion worth of assets.
Token unlocking involves the gradual release of coins to prevent early investors or team members from quickly selling large quantities. Market experts have noted that this process can increase selling pressure on digital assets, which can affect the broader market.
Best Unlocks of July
CryptoRank, a leading crypto research and analysis platform, has highlighted Top 10 Token Unlocking Events of July. These events will unlock over $3 billion in digital assets, including over $100 million in the first week of the month.
AltLayer, a distributor of Ethereum roll-up projects, will release approximately 684 million tokens worth $119 million on July 25. Data from Token Unlock shows that these tokens represent 22% of the market cap. The resources would be distributed to its team, investors, advisors, protocol development, the treasury ecosystem, and the community.
Meanwhile, the Layer-1 blockchain platform Aptos and Ethereum Layer-2 Network Arbitrum Want continue their monthly token releases. The two projects will cumulatively release $150 million worth of tokens for their team, advisors and investors.
To know more: 11 Cryptocurrencies to Add to Your Portfolio Before Altcoin Season
Worldcoin, the personality test projectwill begin a major token unlock on July 24th. This event will release 6.62 million WLD tokens, worth approximately $18 million, every day for 730 days. Tokens are awarded to the community, initial development team, and investors.
To know more: 7 Must-Have Cryptocurrencies for Your Portfolio Before the Next Bull Run
Other notable breakouts in July include Uniswap (UNI), Ronin (RON), ABOUTImmutableX (IMMX-I …), SEI, Starknet (STRK) and Ethereum Name Service (ENS). Uniswap plans to release 8.33 million UNI tokens worth $77.88 million on July 16. Ronin will release 35.71 million RON tokens worth $76.32 million starting July 27.
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