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In July, a noteworthy development is unfolding for altcoins that could potentially trigger substantial sales . This event pertains to the imminent token unlock , resulting in a significant influx of tokens entering the market within the upcoming hours and days . Now, let’s delve into the specifics and explore further details surrounding this occurrence.
Important development for altcoins
In July, a significant amount of crypto tokens will be unleashed into the market, totaling over $138 million in value . This release includes various altcoins such as Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP) . Specifically, Aptos is scheduled to unlock 4.54 million tokens valued at more than $31 million, constituting approximately 2.16% of its circulating supply .
Furthermore, an important milestone awaits Optimism (OP) on July 30th . On this date , it will initiate the unlocking process for 24.16 million tokens with an estimated worth of around $29 million designated for core participants and investors involved in the project’s development and growth.
During the month of July, a substantial influx of cryptocurrencies valued at over $138 million is expected to enter the market. This includes altcoins such as Aptos (APT), ApeCoin (APE) , Axie Infinity (AXS), and Optimism (OP). As a result, there may be an increase in selling pressure within the market .
The upcoming token unlock events hold significant importance for traders and investors who closely monitor these developments. These events have the potential to introduce a considerable amount of new tokens into circulation ultimately impacting token prices due to the subsequent increase in supply .
$31M Aptos token unlocked in less than 12 hours
Aptos is set to release tokens valued at over $31 million, amounting to 4.54 million tokens in circulation . This token represents approximately 2.16% of the total circulating supply. The project plans to unlock 1.33 million tokens for its foundation and allocate an additional 3.21 million tokens for the community’s benefit .
On July 17th, there is another token unlock event scheduled. ApeCoin (APE) will release a total of 15.60 million tokens into circulation . These APE tokens hold a value of $29.95 million and represent approximately 4.23% of the circulating supply . The distribution of these unlocked tokens includes allocations for Yuga Labs , Treasury, contributors involved in the project’s launch, as well as charitable initiatives and the founder of Yuga Lab itself.
Axie Infinity staking rewards worth $20 million
Axie Infinity has scheduled the unlocking of AXS tokens on July 22nd, during which the project will distribute 3.43 million tokens as staking rewards . As of now , these tokens hold an approximate value of $20 million . This release represents about 2.96% of the circulating supply and is expected to have an impact on token prices due to the significant quantity being introduced into the market . Furthermore, it is worth noting that the availability of these newly unlocked tokens for sale can also play a crucial role in potentially reducing their price.
An important event is set to occur for Optimism (OP) on July 30th. During this time, the project will initiate the unlocking of 24.16 million tokens designated for its core participants and investors . These tokens represent approximately 3.75% of the circulating supply and hold an estimated value of around $29 million based on current prices.It remains to be seen how this token unlock event will impact the price of Optimism in the upcoming days, as market dynamics can play a significant role in determining its trajectory .
