Markets
Here are the top token unlock events to keep an eye on in July
As July approaches, the cryptocurrency market is anticipating a significant wave of token unlocks, with projects set to release around $3 billion in assets.
Token unlocks involve releasing coins gradually to prevent initial investors or team members from selling large amounts quickly. Market experts noted that this process could increase selling pressure on digital assets, which could affect the broader market.
Top July Unlocks
CryptoRank, a leading crypto research and analysis platform, highlighted Top 10 token unlock events of July. These events will unlock over $3 billion in digital assets, including over $100 million in the first week of the month.
AltLayer, an Ethereum roll-up project implementer, will launch around 684 million tokens worth $119 million on July 25. Data from Token Unlocks shows that these tokens account for 22% of the market cap. The assets would be distributed to its team, investors, advisors, protocol development, treasury ecosystem, and community.
Meanwhile, Layer-1 blockchain platform Aptos and Ethereum Layer-2 Network Arbitration go continue your monthly token releases. The two projects will cumulatively release $150 million in tokens to their team, advisors and investors.
Read more: 11 Cryptocurrencies to Add to Your Portfolio Ahead of the Altcoin Season
Top 10 token unlocks in July. Source: Cryptorank
Worldcoin, the personality proof project, will begin a major token unlock on July 24th. This event will release 6.62 million WLD tokens, valued at approximately $18 million, daily for 730 days. Tokens are allocated to the community, early development team, and investors.
See more information: 7 Essential Cryptocurrencies to Have in Your Portfolio Before the Next Bull Run
Other notable July unlocks include Uniswap (UNI), Ronin (RON), SUIImmutableX (IMX), SEI, Starknet (STRK) and Ethereum Name Service (EN). Uniswap plans to release 8.33 million UNI Tokens worth US$77.88 million on July 16. Ronin will launch 35.71 million RON tokens valued at $76.32 million starting July 27th.
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