According to Token Unlocks, the altcoin market is poised to unlock more than $403 million in tokens next month. Accordingly, a total of 25 projects are planned to launch their tokens, contribute to the circulating supply and potentially impact the crypto landscape. On the other hand, among these projects, The Sandbox (SAND), Avalanche (AVAX) and Aptos (APT) stand out as those with the largest token locks in this period.
Altcoin token lock
Unlock events are scheduled throughout the month. Accordingly, some important events are expected to attract the attention of both investors and analysts. Here is a breakdown of notable token unlock dates and their respective projects. On August 1, altcoin dYdX (DYDX) will be unlocked. On that day, dYdX will unlock 6.52 million tokens, accounting for 3.81% of its circulating supply, with an approximate value of $13.37 million. This event is likely to affect the trading activities surrounding the platform.
On August 12, altcoin Aptos (APT) and ImmutableX (IMX) tokens will be unlocked. Accordingly, Aptos will launch 4.54 million tokens worth approximately $32.12 million. Simultaneously, ImmutableX will release 18.08 million tokens with an estimated value of $14.58 million.
August 14: The Sandbox (SAND)
Altcoin The Sandbox will unlock 332.55 million tokens, equivalent to 17.19% of its circulating supply. Total value is approximately $142.61 million. This unlock event can significantly affect the market dynamics for The Sandbox and attract a lot of interest from investors.
On August 16, altcoin Flow (FLOW) will unlock the token. Accordingly, Flow is scheduled to unlock 7.29 million tokens, which make up 0.7% of its circulating supply and have an approximate value of $4.23 million.
August 17: ApeCoin (APE)
On this date, altcoin ApeCoin will unlock $31 million worth of tokens. Accordingly, 15.6 million tokens will be on the market, representing 4.23% of the circulating supply.
On August 18, Oasis Network (ROSE) will unlock the token. Accordingly, altcoin Oasis Network will launch 3.4% of its circulating supply. It also plans to unlock 171 million tokens with an approximate value of $8.51 million.
Other altcoin unlock events
Altcoin SPACE ID will unlock 15.15 million tokens with an estimated value of $3.73 million, equivalent to 5.3% of its circulating supply. On the other hand, on August 26, Lido Finance (LDO) and Avalanche (AVAX) will unlock the token. Lido Finance will unlock 8.5 million tokens, representing 0.97% of its circulating supply of 16.41 million USD. On the same day, Avalanche will unlock 9.54 million tokens, 2.76% of its circulating supply worth $125.47 million.
cryptocoin.com As we mentioned, these unlock events represent a significant injection of tokens into the market. It also potentially affects price dynamics and market sentiment for each relevant project. On the other hand, various other tokens are planned to be unlocked during August 2023, which will contribute to the overall increase in circulating supply. Other altcoin token unlock dates are as follows
- August 1 altcoin STEPN (GMT): $543,000 will unlock.
- August 1, Acala (ACA): Will unlock $1.87 million.
- August 1st 1INCH (1INCH): Will unlock $4,600.
- Aug 2 Pendle (PENDLE): $47,970 will unlock.
- August 2 Euler (EUL): Will unlock $434,000.
- Aug 3: Trader Joe (JOE): Will unlock $22,670.
- August 4: altcoin Nym (NYM): $622,000 to unlock.
- August 5: Liquidity (LQTY): $736.230 will unlock.
- August 5th: Tornado Cash (TORN): $79,000 to unlock.
- August 7: altcoin Hashflow (HFT): $1 million unlocked.
- August 9: Moonbeam (GLMR): $697,000 will unlock.
- August 9: GMX (GMX): $22,670 to unlock.
- August 14: Curve DAO (CRV): Will unlock $326,000.
- August 27: Yield Guild Game (YGG): $2.3 million unlocked.
- August 28: SingularityNET (AGIX): $2.2 million unlock.
