What Will Be the Impact of July’s $138 Million Token Unlock?

2023-7-11 17:15

Over $138 million in crypto tokens will be released into circulation in July, including Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP), potentially increasing selling pressure.

The upcoming token unlock events for the projects are significant for traders and investors who are closely monitoring these events. These unlocks can potentially introduce a substantial amount of new tokens into the market, which may impact the token’s price due to increased supply.

$31 Million Aptos Token Unlock Upcoming in Less Than 12 Hours 

According to data compiled by BeInCrypto from Token Unlocks, over $138 million tokens will be released into circulation in July. The most recent is the Aptos token (APT) unlock, due in less than 12 hours from press time.

Aptos will introduce 4.54 million tokens worth over $31 million to circulation. The token comprises 2.16% of the circulation supply.

The project will unlock 1.33 million tokens for the foundation and 3.21 million for the community. 

APT token unlock. Source: Token Unlocks APE Token Unlock: 2.22 Million Tokens For Yuga Labs Founder

Then on July 17, ApeCoin (APE) will release 15.60 million tokens into circulation. The APE tokens, worth $29.95 million, make up to 4.23% of the circulation supply

Tokens will be unlocked for Yuga Labs, the Treasury, launch contributors, charity, and the Yuga Lab founder.

APE token unlock. Source: Token Unlocks Axie Infinity Staking Rewards Worth $20 Million

Axie Infinity has scheduled AXS token unlocks for July 22, when the project will issue 3.43 million tokens as staking rewards. The tokens, worth around $20 million at press time, will make up 2.96% of the circulating supply.

AXS token unlock. Source: Token Unlocks

Lastly, on July 30, Optimism (OP) will unlock 24.16 million tokens for its core contributors and investors. The tokens contribute 3.75% to the circulation supply, and at the current price are worth nearly $29 million.

OP token unlock. Source: Token Unlocks

Read our ultimate guide on Aptos cryptocurrency (APT) and its network here.

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For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

The post What Will Be the Impact of July’s $138 Million Token Unlock? appeared first on BeInCrypto.

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