July Token Unlocks: $755 Million in Crypto Assets Set for Release

July Token Unlocks: $755 Million in Tokens to Be Unlocked Across Major Projects

Crypto News- In July, cryptocurrency tokens worth $755 million will be unlocked as vesting periods for over 40 projects come to an end. This significant event is expected to have a notable impact on the crypto market.

Understanding Crypto Vesting

Crypto vesting is a mechanism designed to prevent early investors and team members from immediately selling their tokens. By locking these tokens for a specified period, vesting helps prevent a sharp decline in token prices during the initial stages of a crypto project.

Major Projects and Their Token Unlocks

According to data from Token Unlocks, the largest crypto asset unlocks in July 2024 belong to prominent projects such as AltLayer (ALT), Xai (XAI), Aptos (APT), Arbitrum (ARB), Optimism (OP), Sui (SUI), Immutable (IMX), and Starknet (STRK).

Biggest Token Unlocks in July:

AltLayer (ALT): Leading the pack, decentralized protocol AltLayer will unlock a substantial 684 million ALT tokens worth approximately $125 million on July 25. These tokens are allocated to various stakeholders including the team, investors, advisers, protocol development, treasury ecosystem, and community.

Xai (XAI): Gaming-focused project Xai will release the second-largest amount of tokens, valued at around $93 million, on July 9. Similar to AltLayer, these tokens are designated for the team, investors, and ecosystem, with an additional $2 million allocated to its reserves. Currently, ALT’s token price is around $0.18, while XAI is valued at $0.46.

Regular Token Unlocks:

Aptos (APT): Aptos, which has been consistently unlocking tokens, will release another batch worth $77 million in July. This follows previous unlocks of $101 million in May and $102 million in June. The new release includes 11.31 million APT tokens allocated to the foundation, community, core contributors, and investors. APT’s price has seen a significant drop, falling 60% from $17.63 on April 1 to $6.99 on June 28.

Arbitrum (ARB): Arbitrum, another major player, will unlock $75 million worth of tokens on July 16. This follows previous releases of $95 million in May and $105 million in June. The project also made headlines in March by releasing 1.1 billion ARB tokens valued at $2.32 billion. Since then, ARB prices have dropped by 63%, from a high of $2.27 on March 8 to $0.82 currently.

Other Notable Unlocks: Projects like Optimism, Sui, Immutable, and Starknet, which have unlocked millions of their native tokens in the past two months, are set to continue this trend with similar amounts in July.

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