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Over $138 million in crypto tokens will be released into circulation in July, including Aptos (APT), ApeCoin (APE), Axie Infinity (AXS), and Optimism (OP), potentially increasing selling pressure.
The upcoming token unlock events for the projects are significant for traders and investors who are closely monitoring these events. These unlocks can potentially introduce a substantial amount of new tokens into the market, which may impact the token’s price due to increased supply.
$31 Million Aptos Token Unlock Upcoming in Less Than 12 Hours
According to data compiled by BeInCrypto from Token Unlocks, over $138 million tokens will be released into circulation in July. The most recent is the Aptos token (APT) unlock, due in less than 12 hours from press time.
Aptos will introduce 4.54 million tokens worth over $31 million to circulation. The token comprises 2.16% of the circulation supply.
The project will unlock 1.33 million tokens for the foundation and 3.21 million for the community.
APE Token Unlock: 2.22 Million Tokens For Yuga Labs Founder
Then on July 17, ApeCoin (APE) will release 15.60 million tokens into circulation. The APE tokens, worth $29.95 million, make up to 4.23% of the circulation supply
Tokens will be unlocked for Yuga Labs, the Treasury, launch contributors, charity, and the Yuga Lab founder.
Axie Infinity Staking Rewards Worth $20 Million
Axie Infinity has scheduled AXS token unlocks for July 22, when the project will issue 3.43 million tokens as staking rewards. The tokens, worth around $20 million at press time, will make up 2.96% of the circulating supply.
Lastly, on July 30, Optimism (OP) will unlock 24.16 million tokens for its core contributors and investors. The tokens contribute 3.75% to the circulation supply, and at the current price are worth nearly $29 million.
Read our ultimate guide on Aptos cryptocurrency (APT) and its network here.
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For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
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