Top 5 Token Unlocks to Watch This Week: More Bleeding Expected?

Token unlocks release previously restricted tokens, strategically scheduled to avoid market disruptions. However, liquidity issues or early investor sell-offs can impact token value.

Here are five significant token unlocks to watch this week:

AltLayer (ALT)

- Unlock Date: June 25

- Tokens Unlocked: 105.21 million ALT

- Current Supply: 1.5 billion ALT

- Overview: AltLayer enhances blockchain scalability using Restaked Rollups, integrating multiple stacks like OP Stack and Arbitrum Orbit.

Yield Guild Games (YGG)

- Unlock Date: June 27

- Tokens Unlocked: 16.69 million YGG

- Current Supply: 372 million YGG

- Overview: YGG's unlocked tokens will be distributed among community members, developers, investors, and the treasury, fueling the guild's expansion.

SingularityNET (AGIX)

- Unlock Date: June 28

- Tokens Unlocked: 8.57 million AGIX

- Current Supply: 1.28 billion AGIX

- Overview: SingularityNET's AGIX unlock will distribute tokens to AGIX-ADA rewards program participants, promoting community engagement.

Optimism (OP)

- Unlock Date: June 30

- Tokens Unlocked: 31.34 million OP

- Current Supply: 1.08 billion OP

- Overview: Optimism is a Layer-2 Ethereum scaling solution. The unlocked tokens will go to investors and core contributors. Community members are concerned about liquidity issues, which might lead to price drops if investors sell off a significant portion.

Ethena (ENA)

- Unlock Date: June 30

- Tokens Unlocked: 14.89 million ENA

- Current Supply: 1.7 billion ENA

- Overview: Ethena is a synthetic currency protocol on Ethereum offering a dollar-denominated savings instrument called the ‘Internet Bond.’ The unlocked tokens will focus on ecosystem development.

Additionally, Echelon Prime (PRIME), Acala (ACA), and Tornado Cash (TORN) will unlock tokens next week, totaling over $108 million. While some view token unlocks as bearish, a well-executed schedule can boost long-term project viability.
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