- This week, nine altcoins will see significant token unlock events totaling tens of millions of dollars.
- According to Token Unlocks, between August 12 and August 18, over $167 million worth of tokens from nine different altcoin projects, including ApeCoin (APE), CYBER (CYBER), and Arbitrum (ARB), will be unlocked.
- Amazing details show that the release of more than 1% of the circulating supply in token unlock events typically has a noticeable negative impact on prices. This week, noteworthy unlocks will occur in The Sandbox (SAND), Starknet (STRK), Render (RNDR), and CYBER (CYBER).
Discover the upcoming major token unlock events in the cryptocurrency market and their potential impact on altcoin prices.
Significant Token Unlocks This Week
This week, the cryptocurrency market will witness substantial token unlocks across nine different altcoins. Token Unlocks’ data indicates that these unlock events, running from August 12 to August 18, will collectively release over $167 million worth of tokens. These events are expected to influence the token prices, often resulting in negative price pressure due to the sudden increase in circulation.
The Sandbox (SAND) to Release $52 Million Worth of Tokens
The Sandbox (SAND) is set to unlock a significant portion of its tokens, with a total value of $52 million, or 205 million tokens, becoming available on August 14 at 08:00 UTC. This unlock represents 9% of SAND’s circulating supply, making it a critical event for traders to monitor closely. The large influx of new tokens could have a substantial impact on the token’s market price.
CYBER (CYBER) and Its 8.54% Circulating Supply Increase
CYBER’s token unlock will release about 5 million dollars’ worth of tokens, totaling 2 million CYBER tokens, at 12:00 UTC on August 14. This corresponds to 8.54% of CYBER’s circulating supply. Market participants should pay attention as this significant increase in supply could influence the token’s price dynamics.
Additional Altcoin Unlocks to Watch
Several other altcoin projects will also undergo token unlock events that are worth noting:
Starknet (STRK)
Starknet (STRK) will see the release of $23 million worth of tokens, or 64 million tokens, throughout the week starting August 15 at 12:00 UTC. This unlock constitutes 3.95% of STRK’s circulating supply.
Render (RNDR)
Render (RNDR) will have an unlock event releasing $3 million in tokens, totaling 760,000 tokens, on August 15 at 12:00 UTC. This represents 0.19% of RNDR’s circulating supply.
Sei (SEI)
Sei (SEI) will release $7 million in tokens, equating to 23 million tokens, on August 15 at 13:00 UTC. This event represents 0.89% of SEI’s circulating supply.
Arbitrum (ARB)
Arbitrum (ARB) will unlock $53 million worth of tokens, or 96 million tokens, on August 16 at 10:00 UTC. This constitutes 2.87% of ARB’s circulating supply.
ApeCoin (APE)
ApeCoin (APE) will unlock $9 million worth of tokens, totaling 15 million APE, on August 17 at 12:00 UTC. This event represents 2.38% of APE’s circulating supply.
Ethena (ENA)
Ethena (ENA) is set to unlock $4 million worth of tokens, or 14 million ENA, on August 18 at 07:00 UTC, representing 0.84% of its circulating supply.
Oasis Network (ROSE)
Oasis Network (ROSE) will unlock $9 million worth of tokens, equivalent to 151 million ROSE, on August 18 at 04:00 UTC. This unlock represents 2.25% of ROSE’s circulating supply.
Conclusion
This week will be pivotal for numerous altcoins, with substantial token unlock events scheduled across the board. Investors and traders should prepare for potential market volatility, as the release of significant amounts of tokens into circulation often impacts prices. Monitoring these events closely and strategizing accordingly can help navigate the anticipated market fluctuations.
