simply put
In August, approximately $495 million worth of tokens will be unlocked, which could impact asset prices.
The Sandbox will issue 332.55 million SAND tokens, accounting for 17.19% of its circulating supply.
Avalanche (AVAX) plans to unlock an additional 2.76% of tokens for each beneficiary, worth $124.33 million.
About 30 projects plan to unlock their tokens in August, which would add about $495 million in potential selling pressure.
The price of investment assets depends on supply and demand. If the supply ratio increases while demand remains the same or decreases, prices will plummet. Conversely, if demand increases and supply remains the same or decreases, prices will increase.
During the token unlock period, new supply is introduced. However, demand will not necessarily increase. Therefore, in general, there will be a negative impact on prices.
$143 million worth of sandbox tokens (SAND) unlocked in August
According to data collected by BeInCrypto from TokenUnlocks, more than 300 million SAND tokens will enter circulation in August.
On August 14, the project will release 332.55 million SAND worth $142.45 million into circulation. The token’s unlocked amount represents 17.19% of the circulating supply.
Sandbox hopes to distribute the upcoming unlocks as follows:
Providing 71.25 million tokens to the team, worth $30.52 million.
Offering 37.5 million tokens to advisors, worth $16.06 million.
96.84 million tokens worth $41.48 million as company reserves.
24 million tokens worth $10.28 million are available for strategic sales.
102.96 million tokens were used for the seed sale, worth $44.1 million.
One community member called the upcoming SAND token unlock “absolutely crazy.”
Avalanche (AVAX) will unlock supply for airdrop winners and others
On August 26, Avalanche will unlock an additional 2.76% of tokens, worth $124.33 million. The company will issue 9.54 million tokens to the following beneficiaries:
Offering 2.25 million tokens worth $29.32 million to strategic partners
The Avalanche Foundation received 1.67 million tokens worth $21.72 million.
providing the team with 4.5 million tokens worth $58.64 million, and
Airdrop winners will receive 1.13 million tokens, worth $14.66 million.
In addition, other projects will release millions of dollars into the circulating supply. Some of them are as follows:
$40 million worth of Optimism ( OP ) will be unlocked on August 30
Aptos (APT) to unlock $32M worth on August 12
Unlock $29 million worth of ApeCoin (APE) on August 17
dYdX’s $13.3 million unlock expires on August 1st. The unlocked amount accounts for 3.81% of the circulating supply. However, the impact on the price of the token is not significant. At the time of writing, it was down 2.11% in the past 24 hours.
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