According to the latest figures, nearly $1 billion of token unlocks are expected to enter the crypto market in August.
Citing data from TokenUnlocks, blockchain reporter Colin Wu reports that over $900 million in unlocks are ready to be released next month.
The largest unlocks include those by decentralized exchange (DEX) dYdX, Layer 1 blockchain Sui, and Ethereum (ETH) Layer 2 Arbitrum (ARB).
The biggest token unlock in the next seven days will come from the cross-chain interoperability protocol wormhole, which will release $154 million of W tokens, representing 33% of the supply.
Analytics firm IntoTheBlock recently reported that projects such as Sam Altman's “proof of identity” project Worldcoin (WLD), decentralized finance (DeFi) platform Stargate Finance (STG), and layer-2 blockchain Mantle (MNT) have been increasing the number of daily tokens Unlocked accounts for a relatively large portion of the market capitalization, according to the company's data.
The company noted that the amount of new tokens issued each day could reduce the price performance of WLD, STG, and MNT.
“This chart shows daily linear unlocks of top assets
The impact on market capitalization is minimal, but $24.9 million worth of BTC is unlocked every day.
Stargate, World Coin, and Mantle have significant unlocks relative to their market caps, creating potential market cap dilution risk. ”
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