- This week, significant token unlock events worth hundreds of millions of dollars will occur across 11 altcoin projects.
- Between July 22 and July 29, major unlocks will include tokens from Ethena (ENA), SingularityNET (AGIX), and Arbitrum (ARB), among others, totaling over $231 million.
- Token unlocks typically result in more than 1% of the circulating supply being released, often exerting downward pressure on prices.
This article examines the potential market impact of significant token unlock events scheduled for this week, focusing on the most critical projects to watch.
Major Token Unlocks Expected This Week
According to Token Unlocks data, the upcoming week will see substantial token unlocks for 11 altcoin projects, collectively valued at over $231 million. Notably, we will witness the unlocks of Ethena (ENA), SingularityNET (AGIX), and Arbitrum (ARB). These events often impact market prices as they alter the circulating supply.
Worldcoin (WLD) and AltLayer (ALT) in the Spotlight
The impending token unlocks for Worldcoin (WLD) and AltLayer (ALT) are particularly noteworthy. Worldcoin (WLD) will have an unlock event worth $84 million, releasing 33 million tokens, which equates to 11.79% of its circulating supply. Meanwhile, AltLayer (ALT) will see a significant event with an unlock worth $107 million, releasing 684 million tokens, representing 42.13% of the circulating supply. These substantial releases could lead to increased volatility for these tokens.
Detailed Breakdown of Upcoming Token Unlocks
Several other projects will also see notable token unlocks this week, including:
- Galxe (GAL): Unlocking $3.7 million worth of tokens, equating to 0.89% of the circulating supply, on July 24, 12:00 PM UTC.
- Pendle (PENDLE): Unlocking $1.1 million worth of tokens, equating to 0.82% of the circulating supply, starting July 24, 12:00 PM UTC.
- Sui (SUI): Unlocking $4.2 million worth of tokens, equating to 0.19% of the circulating supply, on July 25, 07:59 AM UTC.
- Arbitrum (ARB): Unlocking $2.7 million worth of tokens, equating to 3.76% of the circulating supply, on July 25, 10:00 AM UTC.
- Ronin (RON): Unlocking $6 million worth of tokens, equating to 0.88% of the circulating supply, on July 27, 12:00 PM UTC.
- Yield Guild Games (YGG): Unlocking $7 million worth of tokens, equating to 3.75% of the circulating supply, on July 27, 2:00 AM UTC.
- SingularityNET (AGIX): Unlocking $5 million worth of tokens, equating to 1.20% of the circulating supply, on July 28, 12:00 PM UTC.
- Ethena (ENA): Unlocking $7 million worth of tokens, equating to 8.74% of the circulating supply, on July 28, 7:00 AM UTC.
- Portal (PORTAL): Unlocking $2 million worth of tokens, equating to 3.54% of the circulating supply, on July 28, 12:00 PM UTC.
Conclusion
The upcoming week is set to be a significant one for the cryptocurrency market, with major token unlocks scheduled across various altcoin projects. Investors should closely monitor these events, as they have the potential to influence market dynamics considerably. By closely observing the release schedules and evaluating the possible effects on circulating supply, stakeholders can make more informed decisions.
