The cryptocurrency market is bracing for the release of approximately $230 million in vested tokens across 14 different cryptocurrencies this week, potentially adding selling pressure to an already volatile environment.
Scheduled for the week of August 12-18, these token unlocks could significantly impact market dynamics. According to data from Token Unlocks, key tokens set for substantial releases include Aptos (APT), The Sandbox (SAND), and Arbitrum (ARB).
🔓 Weekly Cliff Unlocks : 12-18 August 24 🔓
🔥 $ 228.7m 🔥
🌟 Unlock Highlights 🌟$APT (2.40%) – $65.14m$SAND (9.00%) – $54.24m$ARB (2.77%) – $50.38m$STRK (3.95%) – $24.52m$ROSE (2.24%) – $9.60m$APE (2.31%) – $9.46m
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( % of cir. supply) pic.twitter.com/WVZWA68hFi— Token Unlocks (@Token_Unlocks) August 9, 2024
Unlock Highlights:
– Aptos (APT): $65.14 million (2.40% of supply)
– The Sandbox (SAND): $54.24 million (9.00% of supply)
– Arbitrum (ARB): $50.38 million (2.77% of supply)
– StarkNet (STRK): $24.52 million (3.95% of supply)
– Oasis Network (ROSE): $9.60 million (2.24% of supply)
– ApeCoin (APE): $9.46 million (2.31% of supply).
CRYPTO MARKET BRACES FOR $230 MILLION TOKEN UNLOCKS
The release of $230 million in vested tokens across 14 cryptocurrencies this week could add selling pressure to an already volatile market.
Key tokens like The Sandbox (SAND), Aptos (APT), and Arbitrum (ARB) are expected to… pic.twitter.com/dlvpz4KWzf
— Crypto Town Hall (@Crypto_TownHall) August 11, 2024
Top Seven (7) Token Unlocks Coming This Week
According to CryptoRank, the top seven token unlocks of the upcoming week are led by Arbitrum, with a total of $51.57 million set to be released. Other notable unlocks include Uniswap ($49.61 million), StarkNet ($23.46 million), Moca ($21.16 million), Cyber ($11.28 million), ApeCoin ($8.91 million), and Worldcoin ($8.15 million).
🔓 Top 7 Token Unlocks of the Upcoming Week
The following tokens with the largest unlock amount will be unlocked next week:
Arbitrum – $51.57M
Uniswap – $49.61M
StarkNet – $23.46M
Moca – $21.16M
Cyber – $11.28M
ApeCoin – $8.91M
Worldcoin – $8.15M pic.twitter.com/5HeJOXDKBk— CryptoRank.io (@CryptoRank_io) August 11, 2024
The largest of these, Aptos (APT), is expected to see over $65 million in new supply released on August 12. This significant influx of tokens into the market could exacerbate recent declines, contributing to heightened volatility and price instability.
With the release of such a large volume of tokens, investors and traders should prepare for potential price swings as the market adjusts to the increased supply. These token unlocks may not only influence individual token prices but could also impact the broader market, making this a critical period for those involved in the cryptocurrency space.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/crypto-market-prepares-for-230-million-token-unlocks-this-week/