As July approaches, the crypto market is gearing up for a significant token unlocking process involving projects worth approximately $3 billion. Token unlocking involves the gradual release of coins to prevent early investors or team members from selling large amounts quickly.
Unlockings Worth $3 Billion
Market experts indicated that this process could increase selling pressure on crypto assets, potentially affecting the broader market. A leading crypto research and analysis platform, CryptoRank, highlighted the top 10 token unlocking events in July. These events will unlock over $3 billion in crypto assets, with over $100 million in the first week of the month.
The popular platform of the Ethereum ecosystem, AltLayer, will release approximately 684 million tokens worth $119 million on July 25. Token Unlocks data shows that these crypto assets represent 22% of the market value. The assets will be distributed to the team, investors, advisors, protocol development, treasury ecosystem, and community.
Meanwhile, the Layer-1 blockchain platform Aptos and the Ethereum Layer-2 network Arbitrum will continue their monthly token unlockings. Both projects will cumulatively unlock tokens worth $150 million for their teams, advisors, and investors.
Notable Details
The controversial platform in the blockchain sector, Worldcoin, will unlock a significant amount of tokens on July 24. This event will release 6.62 million WLD tokens worth approximately $18 million per day over 730 days. The assets will be allocated to the community, the initial development team, and investors.
Significant unlocking events in July include Uniswap (UNI), Ronin (RON), SUI, ImmutableX (IMX), SEI, Starknet (STRK), and Ethereum Name Service (ENS). Uniswap plans to release 8.33 million UNI tokens worth $77.88 million on July 16. Ronin will release 35.71 million RON tokens worth $76.32 million starting July 27.
