- This week, over a hundred million dollars’ worth of tokens will be unlocked across ten different altcoin projects.
- The unlock events are anticipated to have significant impacts on circulating supplies and prices.
- Arbitrum (ARB) and Neon (NEON) are highlighted for their particularly large unlock amounts.
Find out how the unlocking of over $142 million in tokens across ten altcoins could shape the market this week.
Major Token Unlock Events in the Crypto Market
Between July 15 and July 22, the crypto market will witness substantial token unlocks across ten altcoin projects, including Pixels (PIXEL), Render (RNDR), and Arbitrum (ARB). According to data from Token Unlocks, more than $142 million worth of tokens will be released into circulation.
Impact on Circulating Supply and Prices
Token unlock events typically result in a noticeable increase in circulating supply, which can exert downward pressure on the associated token prices. Significant unlocks this week include Arbitrum (ARB), Pixels (PIXEL), Axie Infinity (AXS), and Neon (NEON). These events are particularly crucial as they involve large volumes of tokens becoming available on the market.
Spotlight on Arbitrum and Neon
The Arbitrum (ARB) unlock is especially notable, with 96 million tokens worth $71 million being released. This accounts for approximately 2.97% of ARB’s circulating supply, making it one of the most substantial unlocks of the week. Similarly, Neon (NEON) will see 9.4 million tokens valued at $4 million unlocked, representing a significant 16.30% of its circulating supply.
Details of Notable Token Unlocks
The other tokens set to be unlocked include:
- Render (RNDR): 760,000 tokens worth $5 million will be unlocked on July 16, 12:00 PM UTC, representing 0.19% of the circulating supply.
- Axie Infinity (AXS): 2.45 million tokens worth $14 million will be unlocked on July 16, 01:00 AM UTC, representing 1.65% of the circulating supply.
- ApeCoin (APE): 15 million tokens worth $11 million will be unlocked on July 17, 12:00 PM UTC, accounting for 2.31% of the circulating supply.
- Neon (NEON): 9.4 million tokens worth $3.8 million will be unlocked on July 17, 12:00 PM UTC, representing 16.31% of the circulating supply.
- Arkham (ARKM): 2.6 million tokens worth $3.7 million will be unlocked on July 18, 12:00 PM UTC, accounting for 1.15% of the circulating supply.
- Manta Network (MANTA): 7.8 million tokens worth $7 million will be unlocked on July 18, 12:30 PM UTC, representing 2.21% of the circulating supply.
- Pixels (PIXEL): 54 million tokens valued at $10 million will be unlocked on July 19, 10:00 AM UTC, representing 7.05% of the circulating supply.
- Ethena (ENA): 14 million tokens worth $6.1 million will be unlocked throughout the week starting from July 21, 07:00 AM UTC, accounting for 0.87% of the circulating supply.
- SPACE ID (ID): 18 million tokens worth $7.8 million will be unlocked on July 22, 12:00 PM UTC, representing 4.29% of the circulating supply.
Conclusion
This week’s significant token unlocks will likely have a pronounced impact on the crypto market. Investors and traders should be mindful of the potential price fluctuations and market dynamics that may result from these events. The substantial unlocks in Arbitrum and Neon highlight the importance of staying informed about token supply changes, as these can provide valuable insights into forthcoming market trends.
