- This week, significant token unlocks are scheduled for various altcoins.
- The cumulative value of these unlocks exceeds $230 million, impacting key projects like IO, IMX, and ENA.
- Notably, XAI and STRK are set to release substantial amounts of tokens into circulation.
Discover the upcoming token unlocks for notable altcoins and their potential impact on the market. Stay informed about XAI, STRK, and more!
Major Token Unlocks This Week: Over $230 Million in Value
This week, the cryptocurrency market is poised to witness significant token unlock events, with over $230 million worth of digital assets set to be released. Key players such as IO, IMX, and ENA are among the 11 altcoin projects affected, potentially influencing market dynamics and investor sentiments.
XAI and STRK: Tokens to Watch Closely
XAI (Xai) and STRK (Starknet) are particularly noteworthy due to the scale of their upcoming unlocks. XAI will release 198 million tokens valued at $65 million, constituting 71.59% of its circulating supply. Similarly, STRK will unlock 64 million tokens worth $35 million, which represents 4.92% of its total supply. These substantial inflows could exert considerable pressure on their respective markets.
Understanding the Impact of Token Unlocks on Market Prices
The release of a significant portion of tokens into the market can often lead to downward pressure on prices due to the increased supply. Historical data suggests that when more than 1% of the circulating supply is unlocked, the market tends to react negatively. Therefore, the upcoming unlocks for STRK, IO, IMX, and APT could have notable implications.
Detailed Overview of Upcoming Unlocks
Here are the specifics for the key upcoming token unlocks:
- XAI (Xai): 198 million tokens worth $65 million will be unlocked on July 9, representing 71.59% of the circulating supply.
- DYDX (dYdX): 24,000 tokens worth $628,000 will be unlocked starting July 9, accounting for 0.68% of the circulating supply.
- PENDLE (Pendle): 250,000 tokens worth $858,000 will be unlocked starting July 10, representing 0.16% of the circulating supply.
- GLMR (Moonbeam): 572,000 tokens worth $3 million will be unlocked starting July 11, comprising 0.34% of the circulating supply.
- IO (IO.NET): 2.5 million tokens worth $6 million will be unlocked on July 11, accounting for 3.01% of the circulating supply.
- IMX (Immutable): 32 million tokens worth $38 million will be unlocked on July 12, making up 0.72% of the circulating supply.
- APT (Aptos): 11 million tokens worth $62 million will be unlocked on July 12, representing 2.49% of the circulating supply.
- ENA (Ethena): 14.89 million tokens worth $5.2 million will be unlocked on July 14, accounting for 0.87% of the circulating supply.
- OP (Optimism): 10 million tokens worth $14 million will be unlocked on July 15, representing 0.89% of the circulating supply.
- STRK (Starknet): 64 million tokens worth $36 million will be unlocked on July 15, making up 4.92% of the circulating supply.
- CYBER (Cyber): 886,000 tokens worth $3.64 million will be unlocked starting July 15, representing 3.81% of the circulating supply.
Conclusion
The upcoming token unlock events this week highlight the dynamic nature of the cryptocurrency market and its susceptibility to supply shifts. Investors should closely monitor these developments, particularly for XAI, STRK, and other major unlocks, to navigate potential market fluctuations and make informed decisions.
