In July, more than 40 projects will unlock a total of $755 million worth of cryptocurrency tokens.
The unlocking mechanism helps prevent price drops in the early stages of a crypto project by preventing sudden selling by initial investors and the team.
According to Token Unlocks data, the largest amount of crypto assets in July 2024 are AltLayer (ALT), Xai (XAI), Aptos (APT), Arbitrum (ARB), Optimism (OP), Sui (SUI), Immutable (IMX) and Starknet. It will be unlocked by (STRK).
The biggest tokens to be unlocked in July
Decentralized protocol AltLayer will launch 684 million ALT tokens worth approximately $125 million on July 25. These tokens will be allocated to the team, investors, advisors, protocol developers, treasury ecosystem and the community.
Gaming-focused project Xai will release the second largest amount, with approximately $93 million in tokens to unlock on July 9. It is stated that, like AltLayer, these crypto assets will be allocated to the team, investors and ecosystem. Additionally, approximately $2 million worth of tokens will be allocated to reserves.
The ALT token is currently trading around $0.18, while the value of XAI is $0.46.
Projects that unlock tokens regularly
Aptos, which unlocked $101 million worth of tokens in May and $102 million in June, will release 11.31 million APT tokens worth $77 million in July. These tokens will be allocated to the foundation, community, core participants and investors.
While the price of APT was $17.63 on April 1, it dropped to $6.99 on June 28.
Arbitrum is planning a $75 million unlock for advisors and investors on July 16, after unlocking $95 million worth of tokens in May and $105 million in June. The project launched 1.1 billion ARB tokens worth $2.32 billion on March 16.
ARB prices have fallen 63% since the big unlock, falling from $2.27 on March 8 to $0.82 at the time of writing.
Optimism, Sui, Immutable and Starknet, which have unlocked millions worth of their native tokens in the last two months, will also unlock similar amounts in July.
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