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What is Liquid Staking? Liquid Staking Explained for Beginners
In blockchain technology, ensuring the validity of transactions and the creation of new blocks is vital. Proof-of-Stake (PoS) blockchains revolutionized this process by requiring participants to lock up a portion of their cryptocurrency holdings as collateral. This practice, known as crypto staking, was implemented to fortify the network’s security.
However, when individuals staked their cryptocurrency, it became temporarily inaccessible for other purposes within the blockchain ecosystem. This safeguard was necessary to incentivize validators tasked with verifying transactions to uphold the network’s integrity.
In the event of misbehavior or misconduct, validators risked losing their staked funds, thus ensuring their adherence to protocol guidelines.
As blockchain technology evolved, a problem emerged. While staking strengthened network security, it also immobilized a significant portion of crypto assets, limiting their utility in other blockchain applications.
So, that’s how liquid staking appeared, and a solution was devised to address this challenge.
Liquid staking provided a means to maintain blockchain security while unlocking the potential of staked assets for utilization in decentralized liquid staking protocols and other blockchain applications.
But how did this innovative concept come to completion, and what mechanisms underpin its functionality? Let’s delve into the narrative of liquid staking and explore its transformative impact on blockchain technology.
What is Liquid Staking?
Liquid staking is the process of staking crypto assets in a way that allows HODLers to retain the liquidity of their tokens while still earning rewards for participating in the network’s consensus mechanism.
Basically, liquid staking is like traditional staking, but you can access your staked crypto tokens anytime.
Liquid staking came about because people didn’t like locking up their crypto for a long time. They wanted to be able to use it whenever they needed it.
So, the liquid staking solutions aim to address this issue by allowing staked tokens to be used as collateral or traded on secondary markets while still earning staking rewards. This is achieved through various mechanisms, such as tokenization or the use of derivatives, which represent staked assets and can be freely transferred or traded.
How Does Liquid Staking Work?
In traditional staking, users lock up their crypto assets to help secure a proof-of-stake (PoS) blockchain network and earn rewards in return. However, the locked assets are inaccessible during the staking period.
Liquid staking offers a more flexible alternative. Through liquid staking, users just deposit their crypto tokens with a liquid staking service provider.
Further, the provider takes the tokens and pools them with other users’ deposits. This creates a larger stake, improving the proof-of-stake blockchain’s efficiency and security. They then delegate this stake to validators.
In return for the deposit, the provider mints new LSTs (liquid staking tokens). The tokens represent your original stake plus any rewards it accumulates over time. Essentially, it’s a receipt for the staked tokens.
As the validators process transactions, they earn rewards for securing the network. The liquid staking provider distributes a portion of these rewards proportionally according to the LST holding.
What are Liquid Staking Tokens (LSTs)?
Since we briefly touched on the topic earlier, let’s dive deeper into liquid staking tokens (LSTs) to understand these receipt tokens better.
As mentioned, LSTs, also known as liquid tokens or liquid staking derivatives (LSDs), are essentially digital receipts that confirm your ownership of a staked digital asset. Their value is directly tied to that of the original asset.
Like other blockchain assets, LSTs have a wide range of applications within the decentralized finance (DeFi) ecosystem. For instance, you can trade them or exchange them for other cryptocurrencies.
Furthermore, LSTs can be used for lending purposes and even as collateral for borrowing other tokens. Essentially, they are tokenized assets with numerous potential uses. There are countless possibilities for their utilization, making it impractical to cover all of them in this article.
A notable example is Ethereum: Following ‘The Merge,’ the blockchain introduced a Proof of Stake (PoS) consensus mechanism, allowing token holders to stake their ETH and earn rewards while retaining the flexibility to use their assets. This is how stETH came into existence.
Advantages and Disadvantages of Liquid Staking
Feature | Description | Benefit/Risk |
Liquidity | Earn staking rewards while still having access to your assets. You can trade or use them in DeFi applications through tradable tokens called Liquid Staking Tokens (LSTs). | Benefit |
DeFi Participation | LSTs unlock the doors to various DeFi applications like lending platforms and prediction markets. This allows you to potentially earn additional yield on top of your staking rewards. | Benefit |
Increased Returns | By combining staking rewards with potential DeFi yield, you can achieve a compounding effect and significantly boost your overall returns. | Benefit |
Accessibility | Liquid staking removes technical barriers and minimum stake requirements. You can participate with any amount of tokens, making it a more accessible option for everyone. | Benefit |
Security | Liquid staking inherits slashing risk from the validators chosen by the provider. If these validators misbehave, your staked assets could be penalized. | Risk |
Centralization | There’s a potential risk of a single provider accumulating a dominant share of staked assets in a network, which could lead to centralization and reduce the overall decentralization of the network. | Risk |
Regulation | Crypto staking regulations are still evolving, and there’s some uncertainty about how they might impact your participation in liquid staking, especially depending on your location. | Risk |
Governance | When you stake your tokens through a liquid staking platform, you might give up some control over your assets. This could include sacrificing your voting rights in on-chain governance proposals related to the underlying token. | Risk |
Advantages of Liquid Staking
If you’ve read all of the above, you might probably say that the biggest advantage of liquid staking is related to the accessibility it offers, and you’re right; unlike traditional staking, liquid staking offers increased flexibility.
But there are also a lot of other advantages, so let’s explore some of the unique advantages it brings:
1. Unlocked Liquidity – Traditional staking involves locking up your tokens, restricting their immediate use. Liquid staking solves this by issuing tradable liquid staking tokens (LSTs). These tokens represent your staked assets and can be readily bought, sold, or used in DeFi applications. This injects liquidity into your holdings, allowing for more strategic capital allocation.
2. Composability in DeFi – LSTs open doors to the exciting world of DeFi. They function as Lego blocks for your crypto portfolio. You can leverage them in various DeFi protocols:
- Lending Platforms – Deposit your LSTs as collateral and borrow other cryptocurrencies, amplifying your returns.
- Prediction Markets – Stake your LSTs to predict future events and potentially earn high yields.
3. Reward Stacking – Liquid staking lets you enjoy the best of both worlds:
- Staking Rewards – You continue to earn rewards for securing the blockchain network through your staked assets.
- DeFi Yield – LSTs can be used in DeFi protocols, potentially generating additional yield on top of your staking rewards. This creates a compounding effect, boosting your overall returns.
4. Lower Barrier to Entry – Traditional staking often requires significant technical knowledge and resources. For example, running a validator node on Ethereum necessitates a minimum stake of 32 ETH. Liquid staking eliminates these hurdles. You can participate in staking with any amount through a liquid staking provider, making it highly accessible for everyone.
Disadvantages of Liquid Staking
1. Slashing Risk – In Proof-of-Stake (PoS) networks, validators verify transactions and maintain network security. However, for malicious behavior or negligence (going offline for extended periods), validators can face penalties called “slashing.” This slashing results in a portion of their staked tokens being destroyed. Since liquid staking enables users to delegate their stake to validators chosen by the provider, their tokens are also susceptible to slashing if the provider selects unreliable validators.
2. Centralization Concerns – Liquid staking providers often pool user tokens together to create a larger staking pool. While this improves efficiency, it can also lead to centralization if a single provider accumulates a dominant share of the staked assets in a particular network. To mitigate this risk, it’s advisable to choose platforms that promote a distributed network of validators.
3. Regulatory Uncertainty – The cryptocurrency industry is a relatively new and rapidly evolving space. Regulations surrounding crypto staking are still under development in many jurisdictions. It’s crucial to stay informed about any legal or regulatory changes that might impact your participation in liquid staking, especially in your specific location.
4. Reduced Governance Rights – When you stake your tokens through a liquid staking platform, you might relinquish some control over your assets. This could include sacrificing your voting rights in on-chain governance proposals related to the underlying token. While convenience comes with liquid staking, it’s important to weigh the potential trade-off in terms of your participation in the governance of your chosen cryptocurrency.
Examples of Liquid Staking Platforms or Liquid Staking Services
1. Lido Finance
As of April 25, 2023, Lido is the largest liquid staking protocol, boasting a Total Value Locked (TVL) surpassing $29.592 billion. Participants have the opportunity to stake their tokens and receive daily rewards without the need to lock them or manage their infrastructure.
Lido extends its offerings across multiple blockchain ecosystems, including Ethereum, Polygon, and Solana, by providing stETH (staked ETH) LSTs, stMATIC, and stSOL, respectively.
2. Rocket Pool
Rocket Pool is another famous liquid staking protocol within the Ethereum ecosystem, boasting a Total Value Locked (TVL) exceeding $3.818 billion.
Notably, Rocket Pool offers accessibility without imposing a minimum deposit requirement for users seeking access to its rETH LSTs. However, individuals interested in operating a minipool validator must adhere to specific criteria, including a minimum deposit of 8 ETH alongside 2.4 ETH worth of RPL tokens.
3. Coinbase Prime
In addition to decentralized liquid staking protocols like Lido and Rocket Pool, centralized entities such as exchanges can also provide liquid staking services to their users. The fundamental contrast lies in the custody arrangement: decentralized services are non-custodial, whereas centralized services retain full control over users’ staked assets. While decentralized services face vulnerability to smart contract exploits, centralized services carry their own set of risks.
Coinbase Prime has partnered with Liquid Collective to introduce liquid staking for Ethereum (ETH). Users deposit ETH into Liquid Collective’s smart contract, where it’s staked. In return, they receive LsETH tokens, representing their staked ETH. These tokens can be traded and used in DeFi. The value of LsETH is determined by factors like staked ETH, rewards, and penalties, which are updated daily.
FAQ
What is a Liquid Staking Token (LST)?
A Liquid Staking Token is a tradable cryptocurrency that represents your stake in a Proof-of-Stake (PoS) blockchain. When you stake your coins on a PoS network to earn rewards, you traditionally wouldn’t be able to access them until the staking period ends. LSTs solve this by acting like a receipt for your stake. You receive these tokens in exchange for your original cryptocurrency, allowing you to trade, sell, or even use them in DeFi applications while your original stake continues to earn rewards in the background. Essentially, LSTs unlock the liquidity of your staked assets.
How Do I Start with Liquid Staking?
Here’s a simplified process on how to start liquid staking:
- Choose a Reputable Platform (e.g., Lido, Rocket Pool) that supports liquid staking and your crypto and has strong security.
- Fund Your Platform Wallet by transferring your desired crypto.
- Pick Your Stake Amount, considering any minimums.
- Start Staking following the platform’s instructions. You’ll receive LSTs representing your staked assets, allowing you to earn rewards with some flexibility.
What are Traditional Staking Methods?
These staking methods typically enable users to lock up their cryptocurrency holdings to participate in the consensus mechanism of a blockchain network. This can be done by either running a node or delegating their tokens to a validator.
Does Lido and Rocket Pool Support Liquid Staking?
Yes, both Lido and Rocket Pool support liquid staking using their platforms.
Conclusion
So, liquid staking combines the perks of staking with the flexibility of accessing your crypto when needed. This means stakers can get more out of their assets while still being able to use them when required, which could save them from missing out on other opportunities.
As more projects adopt liquid staking and platforms like Lido, Rocket Pool, Coinbase Prime, and Binance make it easier to use, the future looks bright for this method.
However, users need to do their homework, understand the risks involved, and monitor any changes in the rules. With these steps in mind, liquid staking can be a valuable tool for anyone wanting to explore the many possibilities in the world of cryptocurrencies.
* The information in this article and the links provided are for general information purposes only
and should not constitute any financial or investment advice. We advise you to do your own research
or consult a professional before making financial decisions. Please acknowledge that we are not
responsible for any loss caused by any information present on this website.
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Top 5 Crypto Pre-Sales for August 2024
![Top 5 Crypto Pre-Sales for August 2024](https://tokentalk.top/wp-content/uploads/2024/08/Top-5-Crypto-Pre-Sales-for-August-2024.jpg)
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
![Crypto](https://tokentalk.top/wp-content/uploads/2024/08/1722526213_Best-Upcoming-Cryptocurrencies-for-Long-Term-Profits-Turn-100-Into-1000.jpg)
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
![Avalanche anticipates ‘most bullish unlock’ amid broader market $1 billion in token release](https://tokentalk.top/wp-content/uploads/2024/08/Avalanche-Predicts-‘Most-Bullish-Unlock-in-Broader-Market-1-Billion.jpg)
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.
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Big Tech Beats Bitcoin (BTC) as Trump’s Trade Cancellation Weakens Token
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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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