Over $2.3 billion in crypto token unlocks scheduled for August 2024.
Major projects like SUI, W, APT, SAND, and AVAX have significant unlocks.
Potential market impact on token prices and overall crypto market sentiment.
Updated data on upcoming token unlocks for August 2024 highlights major projects with scheduled distributions, potentially flooding the market with approximately $2.31 billion worth of tokens. This influx could significantly impact market dynamics and token prices.
On August 1st alone, several tokens are poised for substantial unlocks. Sui (SUI) will release 68.79 million tokens, worth $53.26 million, representing 2.74% of its circulating supply. On the same day, dYdX (DYDX) plans to unlock tokens worth $10.67 million. Helium (HNT) is set to release tokens valued at $226,030.
Other notable unlocks include StepN (GMT), Portal (PORTAL), Akash Network (AKT), ZetaChain (ZETA), Cloud (CLOUD), and Euler (EUL), each expected to add a considerable number of tokens to the market.
A major event follows on August 3rd, when Wormhole (W) plans to release a massive 612.12 million tokens, valued at $179.38 million, accounting for a substantial 34.01% of its circulating supply. This unlock is one of the largest scheduled for the month and could have a significant market impact.
Another significant token unlock is scheduled for August 9th with Immutable (IMX). The project plans to release 32.47 million tokens, worth $50 million, representing 2.11% of its circulating supply. Moonbeam (GLMR) and Io.net (IO) are set to follow suit on August 11th, releasing tokens worth $611,820 and $6.4 million, respectively.
Mid-August brings more substantial unlocks. Aptos (APT), on August 12th, is set to release 11.31 million tokens, valued at $78.83 million, accounting for 2.41% of its circulating supply. The Sandbox (SAND) plans to unlock a massive 205.59 million tokens on August 14th, worth $67.59 million, which constitutes 9% of its circulating supply. Starknet (STRK) and Render (RNDR) follow on August 15. Arbitrum (ARB) and Nym (NYM) have significant unlocks scheduled for August 16.
The month continues with ApeCoin (APE) set to unlock tokens worth $12.14 million on August 17th. A particularly noteworthy event is Avalanche’s (AVAX) unlock on August 20th, with 9.54 million tokens worth $273.8 million set to be released, representing 2.42% of its circulating supply.
The final days of August will see further token unlocks. On August 22nd, SPACE ID (ID) plans to release tokens worth $8.95 million. Finally, SingularityNET (AGIX) will conclude the month on August 28th with tokens worth $4.62 million scheduled for release.
These token unlock events are expected to increase the supply in the market, potentially impacting token prices.
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