As the cryptocurrency landscape continues to evolve, the coming weeks will see significant token unlocks from several prominent projects in the industry. These unlocks, worth a combined $350 million at current prices, will undoubtedly impact the market dynamics and investor sentiments.
Worldcoin’s Doubled Token Unlock Rate
Worldcoin, co-founded by Sam Altman, has seen its token price drop by around 80% from its peak in March. However, the project is set to double its daily token unlock rate, releasing 6.62 million tokens per day starting July 24, 2024, worth approximately $13.3 million at current prices.
Layer 3 and Layer 2 Token Unlocks
In addition to Worldcoin, several other projects are scheduled to unlock substantial amounts of tokens in July:
- XAI, a Layer 3 gaming-focused project built on Arbitrum, will unlock nearly 200 million tokens, representing 72% of its circulating supply, on July 9, valued at around $70 million.
- ImmutableX, a Web3 gaming firm, will unlock 32.5 million tokens, representing 2.15% of its circulating supply, on July 12, valued at $43 million.
- Aptos, a project staffed by former members of Facebook’s Libra currency team, will unlock 11.31 million tokens, representing 2.49% of its circulating supply, on July 12, valued at around $68 million.
- StarkNet, the Ethereum Layer 2 network, will unlock 64 million tokens, representing 4.9% of its circulating supply, on July 15, valued at approximately $37 million.
- Arbitrum, the first Layer 2 network to hit $150 billion in total volume on Uniswap, will unlock 92.6 million tokens, representing 2.9% of its circulating supply, on July 16, valued at around $64 million.
Other Significant Unlocks
The month of July will also see notable token unlocks from other prominent projects, including:
- Axie Infinity, which will unlock 2.45 million tokens, representing 1.66% of its circulating supply, on July 16, valued at around $12.5 million.
- Apecoin, which will unlock 15.6 million tokens, representing 2.31% of its circulating supply, on July 17, valued at approximately $11.9 million.
- Pixels, which will unlock 54.4 million tokens, representing 7% of its circulating supply, on July 19, valued at around $10.5 million.
As the crypto industry continues to evolve, these substantial token unlocks will undoubtedly shape the market dynamics and investor sentiment in the weeks to come. Cryptocurrency enthusiasts and market participants will undoubtedly be closely monitoring these developments and their potential impact on the broader ecosystem.
