- July witnesses massive $169M crypto token unlock, Aptos and ApeCoin leading.
- Potential price volatility is expected due to increased token supply.
- Tokens may present promising investment opportunities amid market uncertainties.
According to an update from renowned crypto YouTuber Coin Bureau, a massive wave of token unlocks valued at over $169 million is slated to occur this month. This data from Binance Research and TokenUnlocks provides compelling insights into the cryptomarket’s immediate future.
The largest token unlocks in US$ terms (Source: TokenUnlocks, Binance Research)
The Heaviest Hitters: Aptos and ApeCoin
Notably, Aptos (APT) and ApeCoin (APE) are projected to experience the highest dollar values unlocked. Approximately $37.1 million worth of APT and $34.5 million worth of APE are scheduled for release in the coming days. Consequently, the substantial influx of these tokens may lead to an oversupply and potential price depreciation.
Moreover, Optimism (OP) and Axie Infinity (AXS) are set to unlock $32.9 million and $22 million worth of tokens, respectively. These are not the only tokens scheduled for release. Additionally, other cryptocurrencies such as ImmutableX (IMX), DYDX, FLOW, Space ID (ID), SingularityNET (AGIX), and NYM have unlocks ranging from $2.5 million to $13.8 million.
Significantly, the unlock schedules for these tokens vary. For instance, APT and OP token supplies are set to be released on July 12. NYM’s unlock occurred on July 8, while DYDX’s on July 4. The rest follow later in the month, with IMX on July 15, FLOW on July 16, APE on July 17, AXIE and ID on July 22, and AGIX on July 28.
Implications for Investors and the Market
Investors who decide to sell or hold their holdings as these tokens become available may negatively affect their prices. Hence, participants in the crypto space must stay updated with news events. Notably, these tokens often experience a rally in the weeks leading up to the token unlock.
These impending unlocks could be a game-changer for investors and the market. The added supply may cause a dilution, putting downward pressure on prices. However, it could also present buying opportunities for those keen on these tokens.
In conclusion, this massive unlock of over $169 million in tokens this July is a noteworthy event in the crypto sphere.
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