In an exciting development, some altcoins are about to face the impact of a large increase in supply due to big token releases. The latest news from the TokenUnlocks App shows that more than $580 million worth of crypto will be unlocked this month, causing concern among investors. Here’s a look at these token unlocks and how the prices of these coins are moving.
Token unlocks involve releasing previously locked coins into the market, which can affect supply dynamics. A significant increase in supply often leads to negative market sentiments, prompting investors to be cautious and avoid trading specific coins. According to the TokenUnlocks App, here are ten coins expected to experience major token unlocks in August.
1. Immutable (IMX)
On August 9, Immutable (IMX) will experience an unlock of 32.47 million IMX, valued at $48.39 million. This release represents 2.11% of the coin’s circulating supply. Currently, IMX is trading at $1.36, marking a 4.90% decrease in the past 24 hours. The coin’s price has ranged from $1.35 to $1.46 during this period.
2. XAI
On August 9, XAI will unlock 35.88 million coins, valued at $11.39 million. This release accounts for 6.91% of the total circulating supply. XAI’s price is currently $0.2938, reflecting a 3.15% decrease over the past day. The coin’s 24-hour price range is $0.286 to $0.3093.
3. Aptos (APT)
Aptos (APT) is set to unlock 11.31 million APT on August 12, worth $75.21 million. This unlock represents 2.41% of the circulating supply. APT is trading at $6.35 today, down 3.03% from the previous day. The 24-hour price range is $6.25 to $6.68.
4. The Sandbox (SAND)
The Sandbox (SAND) will experience an unlock of 205.59 million tokens, valued at $66.95 million, on August 12. This amounts to 9% of the circulating supply. SAND’s current price is $0.3074, showing a 5.09% decline. The 24-hour price range is $0.3029 to $0.3282.
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5. Starknet (STRK)
Starknet (STRK) will unlock 64 million STRK, worth $31.98 million, on August 15. This release is 4.38% of the circulating supply. STRK is trading at $0.4709, with a 3.78% decrease over the past day. The 24-hour price range is $0.4582 to $0.4997.
6. Arbitrum (ARB)
Arbitrum (ARB) is set to unlock 92.65 million ARB on August 16, valued at $63.26 million. This represents 2.77% of the coin’s circulating supply. ARB is priced at $0.644 today, marking a 4.87% drop. The 24-hour price range is $0.6383 to $0.6863.
7. ApeCoin (APE)
ApeCoin (APE) will see an unlock of 15.60 million APE, worth $12.23 million, on August 17. This represents 2.31% of the circulating supply. APE’s price stands at $0.728, down 5.78% over the past day. The 24-hour price range is $0.7252 to $0.7853.
8. Oasis Network (ROSE)
On August 18, Oasis Network (ROSE) will unlock 151 million ROSE, worth $12.57 million. This unlock equals 2.24% of the circulating supply. ROSE is trading at $0.0783, down 3.75% from the previous day. The 24-hour price range is $0.078 to $0.08344.
9. Pixel (PIXEL)
On August 19, Pixel (PIXEL) will unlock 54.37 million coins, valued at $10.17 million. This release represents 7.05% of the circulating supply. PIXEL is currently priced at $0.178, reflecting a 2.54% decline over the past day. The 24-hour price range is $0.1704 to $0.1876.
10. Avalanche (AVAX)
Avalanche (AVAX) is set to unlock 9.54 million AVAX on August 20, worth $254.96 million. This unlock accounts for 2.42% of the circulating supply. AVAX is trading at $25.25 today, marking a 3.53% decrease. The 24-hour price range is $24.97 to $26.82.
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