In August, several crypto projects, including Avalanche, Wormhole, Aptos, Sandbox, Arbitrum, and Optimism, will release tokens worth about $1 billion. Around $260 million of this will be unlocked in the first three days of the month.
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Token unlocks are often used by crypto projects to manage the supply of their assets and prevent market oversaturation. By gradually releasing tokens, they aim to avoid major sell-offs by early investors or team members holding large amounts of the crypto asset.
Major Token Unlocks for August: Wormhole and Avalanche Lead the Way
This month’s largest token unlocks will be led by Wormhole and Avalanche.
On August 3, Wormhole, a cross-chain messaging protocol, will release 600 million tokens worth $151.67 million, which constitutes 33.33% of its circulating supply.
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Avalanche will follow on August 20, unlocking 9.54 million AVAX tokens valued at approximately $251 million, representing 2.42% of its circulating supply. According to the Token Unlocks dashboard, 4.5 million AVAX (worth $118.53 million) will go to the Avalanche team, 2.25 million AVAX (worth $59.27 million) will be allocated to strategic partners, and the remaining tokens will be distributed to the Foundation and as airdrops.
The former Ecosystem Growth Manager at Avalanche highlighted this unlock as the most significant in the project’s history, noting it as the last major unlock for team and public/private investors.
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August Token Unlocks: Sui, dYdX, Aptos, Sandbox, Arbitrum, Optimism
In August, several significant token unlocks are scheduled:
Sui, a layer-1 network, will unlock 64 million tokens valued at $50 million on August 1, which is 2.56% of its circulating supply.
dYdX, a decentralized exchange, will release 8.33 million tokens worth nearly $11 million, amounting to 3.65% of its circulating supply. These tokens will be distributed among investors, founders, staff, and future employees.
Aptos will unlock 11.31 million APT tokens worth $74.64 million on August 12. The distribution will include allocations to the Aptos Community, Core Contributors, Foundation, and Investors, with Core Contributors receiving the largest share of 3.96 million APT valued at $26 million.
Sandbox will release 205.6 million SAND tokens worth $66.75 million on August 14, divided among the team, advisors, and a company reserve.
Arbitrum and Optimism, Ethereum’s layer-2 networks, will unlock over $110 million worth of tokens by August 16 and August 31, respectively.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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