- Around 11 projects are set to unlock tokens this week.
- The upcoming unlocks are worth over $160 million.
As a seasoned researcher with years of experience navigating the volatile and fascinating world of cryptocurrency, I must say that August has proven to be quite the whirlwind for token releases. The upcoming unlocks are not just events to watch; they’re tidal waves about to crash onto the shores of the crypto market.
Throughout August, there have been several Token Unlock occurrences starting from the initial week, and it appears that this pattern will persist going forward.
As a seasoned investor with years of experience in the crypto space, I’ve witnessed numerous projects releasing new tokens into circulation, often leading to significant fluctuations in the market. This week, I anticipate several high-profile projects will follow suit, adding billions of dollars worth of assets to the market. This influx could potentially impact my investments and portfolios, so I’ll be closely monitoring the situation to make informed decisions based on my understanding of the market dynamics.
August’s token unlock tsunami
As per the latest information from Token Unlock, it’s estimated that around 14 projects plan to make their tokens available for circulation.
The size of these releases can differ significantly, as certain projects are primed for larger unveilings compared to others.
Sandbox [SAND]
Based on current figures, it’s anticipated that a significant token release will occur for The Sandbox (SAND), amounting to approximately 205.59 million tokens this week.
As an analyst, I’ve calculated that these tokens carry a market value at the time of press roughly equaling around $53.28 million. This recent unlock accounts for nearly 9% of the total circulating supply, a substantial percentage.
The distribution of the unrestricted tokens will be split between the company’s reserves, the team, and advisors; approximately half of these tokens will be set aside for the company’s reserves.
As of this writing, SAND was trading around $0.25, reflecting a slight increase of over 1%.
Arbitrum [ARB]
In the upcoming week, Arbitrum’s token, ARB, is planned for a significant release, amounting to 96 million ARB. This represents approximately 2.87% of its current total circulating supply.
As an analyst, I’m estimating that the upcoming token distribution event carries a value of around $54 million. It’s important to note that this substantial sum is primarily allocated for the team and our investors, with the team set to receive more than half of this total unlock.
As of this writing, ARB was trading at around $0.5, showing a slight increase of over 2%.
ApeCoin [APE]
15.6 million units of ApeCoin (APE) are set to be released this week, equating to a value of around $9.24 million. This amount represents approximately 2.31% of the total circulating ApeCoin supply.
The unsecured tokens have been earmarked for the treasury, Yuga Labs, as well as the founding members of Yuga Labs. Currently, APE is being exchanged at approximately $0.59, showing a rise of more than 2% in value.
Other token unlocks
As per the information from CryptoRank, notable token releases are planned for this week, affecting both Uniswap (UNI) and Worldcoin (WLD).
Around 8.3 million UNI tokens worth about $49.61 million are set to be distributed for Uniswap. This amount makes up approximately 0.83% of the total UNIswap tokens currently in circulation.
Approximately 5.2 million Worldcoin’s WLD tokens, equivalent to a value of about $8.15 million, are set to be released. This represents just under half a percent (0.05%) of the current total circulating supply of these tokens.
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2024-08-13 02:16