Date: Mon, Sept 09, 2024, 05:26 AM GMT
This week, the crypto market is bracing for a significant event with over $111 million worth of tokens set to be unlocked. These unlocks, scheduled across various high-profile cryptocurrencies, have the potential to stir up market prices and create volatility.
Among the tokens gearing up for release are Aptos (APT), Render (RENDER), and Starknet (STRK). These projects, each with their own unique use cases and communities, will be seeing substantial portions of their circulating supply released into the market.
Here’s a breakdown of the most notable token unlocks coming up:
Source: Token Unlock
Aptos (APT): A whopping $66.05 million worth of $APT tokens will be unlocked, representing 2.32% of the token's circulating supply. Aptos is a layer 1 blockchain known for its focus on scalability and user experience.
Starknet (STRK): Starknet, a layer 2 scaling solution for Ethereum, is set to release $25.07 million worth of $STRK tokens. This accounts for 3.60% of its circulating supply.
Render (RENDER): $3.58 million worth of $RENDER tokens, making up 0.19% of its circulating supply, will be unlocked. Render is a decentralized network that connects users looking to render digital content with those who have idle GPU power.
Other tokens such as $IO ($3.20 million), $ENA ($3.12 million), and $CYBER ($2.78 million) are also scheduled for unlocks, though with smaller impacts on their respective markets.
As these unlocks approach, traders and investors are advised to keep an eye on market movements and consider how the increased supply might influence prices. With $111 million on the line, next week could be an eventful period for the crypto market.
