фото показано с : invezz.com

Cryptocurrency prices continue to print minor fluctuations as Bitcoin steadies beyond $30K. The leading crypto by market cap traded at $30,701.90 at press time, following a 0.55% 24-hour surge. Meanwhile, altcoins continue to struggle as they stall.

While market players hope for bullish markets, reputable altcoin projects await the release of tokens worth around $138 million into circulating supply. Some of the top cryptos awaiting substantial token offloads include Aptos, ApeCoin, Axie Infinity, and Optimism.

Top altcoins have rapidly slumped following immense token releases in the past, and similar events might surface again. Asset unlocks increase supply, a recipe for deteriorated demand and weakening price actions.

Multiple cryptocurrency projects await token unlocks in July, including Axie Infinity, Optimism, Aptos, and ApeCoin. With assets worth over $138 million set to join a lightly liquid atmosphere, the figure will likely shake the space.

Aptos completed its token unlock today (12 July), releasing 4.54 million coins (worth around $32.38 million) into supply. The project offloaded 3.21 million APTs for the community and 1.33 million for the foundation, with the offloaded tokens constituting 2.16% of the total supply in circulation.

ApeCoin will offload 15.6 million on 17 July. Worth $29.95 million, the coins represent 4.23% of the asset’s circulating supply. The project will unlock the tokens for Yuga Labs & its founder, charities, launch contributors, and Treasury.

Axie Infinity will unlock 3.43 million tokens, worth approximately $20 million, on 22 July as staking rewards. The assets awaiting release represent 2.96% of AXS’s circulating supply.

Optimism will finalize the month by unlocking 24.16 million coins on 30 July. Worth over $29 million at present prices, the figure constitutes 3.75% of the circulating supply.

Token unlocks trigger price slumps for two reasons. Firstly, administrators that receive the offloaded assets might resort to selling. Secondly, other market players may trim their holdings (assuming the first instance).

The massive number of cryptos that investors can sell is a catalyst for price dips. Projects need to ensure significant moves to heighten demand during these events.

The post Altcoin markets brace for July’s $138 million token unlocks – details appeared first on Invezz.

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