Markets
Cryptocurrency Market Expects $3 Billion Token Unlocks in July; Worldcoin (WLD) Price Analysis
As July approaches, the cryptocurrency market is bracing for a substantial influx of token unlocks, with an estimated $3 billion worth of digital assets scheduled for release. Token unlocks are designed to distribute coins gradually, a strategy intended to prevent early investors and team members from unloading large amounts at once, which could destabilize the market. Market experts suggest that such unlocks could increase selling pressure, potentially impacting the broader digital asset landscape.
CryptoRank, a reputable crypto research and analytics platform, has identified the top ten token unlock events scheduled for July. Collectively, these events will unlock over $3 billion worth of digital assets, with over $100 million being made available in the first week of the month alone.
A significant unlock event involves AltLayer, a project that facilitates the deployment of Ethereum roll-ups. On July 25, AltLayer is expected to release approximately 684 million tokens, valued at around $119 million.
According to data from Token Unlocks, these tokens constitute 22% of AltLayer’s market capitalization. The rollout will target multiple stakeholders, including the project team, investors, advisors, and the broader AltLayer community, supporting the development of the protocol and treasury ecosystem.
Extensive Worldcoin Token Unlock Schedule
The significant token unlocks set for July will affect multiple blockchain platforms and networks. Aptos, a Layer-1 blockchain platform, and Arbitrum, an Ethereum Layer-2 network, will continue their routine monthly token distributions, releasing a combined total of $150 million in tokens to their teams, advisors, and investors.
Another major event is the planned token unlock by Worldcoin, known for its proof-of-personality initiative. Starting July 24, Worldcoin will begin releasing 6.62 million WLD tokens daily over a period of 730 days. These tokens, valued at approximately $18 million daily, are designated for community members, the early development team, and investors.
Top 10 token unlocks in July. Source: Cryptorank
Additionally, July will see notable token launches from other major projects in the crypto space. Uniswap is set to distribute 8.33 million UNI tokens, valued at $77.88 million, on July 16. Following this, Ronin plans to release 35.71 million RON tokens worth $76.32 million starting on July 27. , SEI, Starknet (STRK), and Ethereum Name Service (ENS). These unlocks are critical events for the respective token markets, potentially influencing their valuation and market dynamics.
Worldcoin (WLD) technical analysis
In recent trading sessions, Worldcoin (WLD) has shown a sharp bearish trend against US Tether (USDT) on Binance, as evidenced by analyzing the 30-minute price chart. The data extracted from this chart offers insight into prevailing market sentiment and possible future trends for the cryptocurrency.
The Exponential Moving Average (EMA), depicted in blue and currently positioned at approximately $2,436, has recently seen the price of WLD fall below it. This drop below the EMA line suggests a possible short-term bearish trend and indicates that WLD is facing significant selling pressure as it struggles to overcome this dynamic resistance level.
Furthermore, the Relative Strength Index (RSI) is recorded at 46.22, which puts it in a neutral to slightly bearish range. Being below the 50 midline but not extending into the oversold area (below 30), the RSI suggests there could be further downward movement or potential stabilization if buying interest increases.
Currently, Worldcoin’s price trajectory further underscores the bearish sentiment, with a recent price point close to $2,457. The consistent inability to break above the EMA despite multiple attempts further confirms its role as a critical barrier to price gains, reinforcing the overall bearish trend observed in the market.
Support and Resistance Zones
In the current trading scenario, WLD has established a primary support level of approximately $2.42. This price acts as a floor, historically preventing further declines, as evidenced by several cases in which the price recovered upon reaching or approaching this level. A break below this level could suggest a shift into a more pronounced downtrend, necessitating a review of trading strategies.
If the price falls below this primary support, the next critical level to monitor will be near $2.36. This support level has previously seen a small consolidation, indicating sustained buying interest that could serve as a buffer against further declines.
Regarding resistance levels, immediate resistance is identified at around $2.44, slightly above the current trading price. This resistance closely aligns with the Exponential Moving Average (EMA) and is characterized by recent price failures to maintain upward movements. Breaking above this EMA is seen as essential to reversing the prevailing bearish sentiment.
More formidable resistance is around $2.48, a level confirmed by observation of spikes that have consistently acted as a significant barrier. Repeated difficulties exceeding this price level highlight strong selling pressure. A successful break above this mark could signal a potential bullish reversal or at least indicate an increase in upward momentum.