- Crypto YouTuber Coin Bureau reports that over $169 million worth of tokens are set to be unlocked this month.
- Token unlocks for Optimism, Axie Infinity, and other tokens worth millions of dollars could impact prices and supply in the crypto market.
- Investors should stay vigilant, as token unlocks often trigger price rallies followed by potential sell-offs.
According to a tweet by Coin Bureau, a crypto YouTuber, a significant amount of tokens, valued at over $169 million, are set to be unlocked this month. The data was collected from TokenUnlocks and Binance Research. The tweet highlights that Aptos and ApeCoin will experience the highest dollar values being unlocked this week, with approximately $37.1 million worth of APT and $34.5 million worth of APE to be unlocked in the upcoming days.
Be careful of token unlocks in July Found this chart from the recent Binance research report quite helpful. pic.twitter.com/mPbF2sLyvr— Coin Bureau (@coinbureau) July 10, 2023
There are several token unlocks scheduled for this month, which could potentially lead to a dilution of supply and downward pressure on prices. Among them, Optimism (OP) and Axie Infinity (AXS) will see $32.9 million and $22 million worth of tokens unlocked, respectively.
In addition, ImmutableX (IMX), DYDX, FLOW, Space ID (ID), SingularityNET (AGIX), and NYM will have unlocks of $13.8 million, $13 million, $5 million, $4.5 million, $2.6 million, and $2.5 million, respectively.
APT and OP token supplies are set to be released on July 12. NYM’s unlock happened on July 8, while DYDX’s happened on July 4. IMX is set to be unlocked on July 15, FLOW on July 16, APE on July 17, AXIE and ID on July 22, and AGIX on July 28.
Investors may choose to sell some or all of their holdings as these tokens become available, potentially impacting their prices negatively. Market participants in the crypto space should remain attentive to news events, as the prices of these tokens often experience a rally in the weeks preceding the token unlock.
The post Over $168 Million Worth of Tokens Set to Unlock in July appeared first on Coin Edition.